August 2013 New Car Sales Expected to Be Up 14.4 Percent According to TrueCar; August 2013 SAAR at 15.75M, Highest August SAAR since 2007 Estimated incentive spending drops to below $2,500 per vehicle

SANTA MONICA, Calif., Aug. 28, 2013 /PRNewswire/ -- TrueCar.com, the data-driven company that sources, compiles, and analyzes car-buying information, today released its August 2013 sales and incentives forecast.  The forecast shows the following:

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  • For August 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,464,214 units, up 14.4 percent from August 2012 and up 11.8% percent from July 2013 (on an unadjusted basis).
  • The August 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.75 million new car sales, down less than one percent from July 2013 and up nine percent over August 2012.
  • Retail sales are up 10.5 percent compared to August 2012 and up 11.7 percent from July 2013.
  • Fleet and rental sales are expected to make up 15.0 percent of total industry sales in August 2013.
  • The industry average incentive spending per unit will be approximately $2,477 in August 2013, which represents an increase of 0.4 percent from August 2012 and is down 2.6 percent from July 2013. Incentives are at their lowest percentage since January of this year.
  • Used car sales* are estimated to be 3,451,179.  The ratio of new to used is estimated to be 1: 3 for August 2013.

Individual Manufacturer highlights:

  • General Motors is enjoying its highest sales since Sept. 2008
  • Honda's sales are its highest since August 2009
  • Chrysler enjoyed its second highest sales month this year

"New vehicle sales defied their typical strong correlation with Wall Street in August and continued to post a healthy increase despite the lackluster performance in financial markets," said Jesse Toprak, senior analyst for TrueCar.com. "Small SUVs became the fastest growing segment this month, with this very functional and affordable vehicle category now making up 15.5% of all sales, up from 13.5% from a year ago."

Forecasts for the top eight manufacturers for August 2013:

Unit Sales

Manufacturer

August 2013 Forecast

% Change vs. July 2013

% Change vs. Aug. 2012

Chrysler

169,269

22.0%

14.5%

Ford

217,173

15.1%

12.6%

GM

265,369

13.4%

10.3%

Honda

156,371

10.6%

19.1%

Hyundai/Kia

121,462

5.6%

9.3%

Nissan

118,247

8.4%

20.0%

Toyota

215,413

11.4%

14.3%

Volkswagen Group

59,710

13.4%

7.5%

Industry

1,464,214

11.8%

14.4%



Market Share

Manufacturer

August 2013 Forecast

Jul-13

Aug-12

Chrysler

11.6%

10.6%

11.5%

Ford

14.8%

14.4%

15.1%

GM

18.1%

17.9%

18.8%

Honda

10.7%

10.8%

10.3%

Hyundai/Kia

8.3%

8.8%

8.7%

Nissan

8.1%

8.3%

7.7%

Toyota

14.7%

14.8%

14.7%

Volkswagen Group

4.1%

4.0%

4.3%



Incentive Spending

Manufacturer

August 2013
Incentives

% Change
vs. July 2013

% Change
vs. August 2012

Total Spending

Chrysler

$ 2,987

-0.7%

-8.8%

$  505,588,038

Ford

$ 2,949

-1.2%

12.1%

$  640,336,893

GM

$ 3,469

-3.4%

12.1%

$  920,612,117

Honda

$ 1,498

-15.2%

-38.1%

$  234,287,982

Hyundai/Kia

$ 1,584

-2.2%

33.4%

$  192,433,604

Nissan

$ 2,301

-10.1%

-16.7%

$  272,083,915

Toyota

$ 1,863

4.6%

-0.5%

$  401,334,151

Volkswagen Group

$ 2,461

-3.3%

17.4%

$  146,955,118

Industry

$ 2,477

-2.6%

0.4%

$ 3,622,340,527

"Despite the push to sell down older models, incentive spending has declined for its second consecutive month," said Kristen Andersson, analyst at TrueCar.com. "Chrysler hit its lowest level of incentive spending since May 2011 while also seeing double digit sales increases, as their strong product lineup continues to resonate with buyers. Honda has also slashed its incentive spending, which is down almost 40 percent from last year." 

TrueCar.com bases its forecast on actual transaction data. The transaction data based forecast is refined by other current and historical factors that impact vehicle sales, including  sales, inventory, incentives, fuel prices, and macro economic data (major stock market indexes, consumer confidence, new home starts and CPI).  TrueCar.com does not adjust for selling days in year-over-year percentage change calculations.

*Used car sales figures include sales from franchise dealerships, independent dealerships and private party sales

About TrueCar, Inc.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers.  As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area.  TrueCar also owns ALG, the benchmark for vehicle value information in the auto industry and has been forecasting residual values for nearly 50 years in the U.S. and Canadian markets.

TrueCar is a data-driven company that sources, compiles and analyzes car-buying information unlike anybody in the industry. Since its founding in 2005, TrueCar dealer partners have sold over 900,000 vehicles across the country. Its national network of more than 6,500 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

Disclaimer
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only.  TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including without limitation, the implied warranty of merchantability, fitness for a particular purpose and non-infringement.  The information contained in this press release may include technical inaccuracies or typographical errors.  Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation, lost revenues or lost profits arising from or in connection with your use or reliance on the information presented in this press release.

SOURCE TrueCar, Inc.



RELATED LINKS
http://www.TrueCar.com

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