February 2013 New Car Sales Expected to Be Up Six Percent According to TrueCar; February 2013 SAAR at 15.7M, Highest February SAAR Since 2007 Estimated Incentive Spending for February 2013 at $2,392

SANTA MONICA, Calif., Feb. 25, 2013 /PRNewswire/ -- TrueCar.com, the authority on new car pricing information, trends and forecasting, today released its February 2013 sales and incentives forecast.  The forecast shows the following:

  • For February 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,214,194 units, up 5.7 percent from February 2012 and up 16.5 percent from January 2013 (on an unadjusted basis)
  • The February 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.7 million new car sales, up from 14.5 million in February 2012 and up from 15.3 million in January 2013
  • Retail sales are up 5.2 percent compared to February 2012 and up 20.6 percent from January 2013
  • Fleet and rental sales are expected to make up 21 percent of total industry sales in February 2013
  • The industry average incentive spending per unit will be approximately $2,392 in February 2013, which represents a decrease of 3.9 percent from February 2012 and an increase of 1.8 percent from January 2013
  • Used car sales* are estimated to be 3,402,345, up from 3.25 million February 2012. The ratio of new to used is estimated to be 1:3 for February 2013

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"The unusual strength of the full size truck segment in February helped industry sales to nearly reach the 15.7 million SAAR mark, despite gas prices increasing," said Jesse Toprak, senior analyst for TrueCar.com. "Pent up demand for pick up trucks by small businesses will be a critical factor in this year's continued sales recovery."

Forecasts for the top eight manufacturers for February 2013:

Unit Sales

Manufacturer

February 2013 Forecast

% Change vs. January

2013

% Change vs. February

2012

Chrysler

145,665

23.7%

9.1%

Ford

199,843

20.5%

11.9%

GM

221,019

13.5%

5.6%

Honda

112,708

20.4%

2.3%

Hyundai/Kia

89,578

12.0%

-6.9%

Nissan

101,748

25.7%

-4.7%

Toyota

168,917

7.1%

6.0%

Volkswagen

44,629

14.2%

14.1%

Industry

1,214,194

16.5%

5.7%

 

Market Share

Manufacturer

February 2013 Forecast

January 2013

February 2012

Chrysler

12.0%

11.3%

11.6%

Ford

16.5%

15.9%

15.6%

GM

18.2%

18.7%

18.2%

Honda

9.3%

9.0%

9.6%

Hyundai/Kia

7.4%

7.7%

8.4%

Nissan

8.4%

7.8%

9.3%

Toyota

13.9%

15.1%

13.9%

Volkswagen

3.7%

3.7%

3.4%

 

Incentive Spending

Manufacturer

February

2013

Incentives

% Change vs. January

2013

% Change vs. February

 2012

Total Spending

Chrysler

$3,010

-0.3%

-1.3%

$438,503,123

Ford

$2,711

3.6%

-4.3%

$541,730,520

GM

$3,143

-0.3%

0.9%

$694,566,310

Honda

$1,291

6.3%

-39.3%

$145,529,432

Hyundai/Kia

$1,420

1.9%

18.8%

$127,203,722

Nissan

$2,428

10.5%

-24.9%

$247,013,770

Toyota

$1,681

-1.6%

3.8%

$284,033,376

Volkswagen

$2,326

-2.4%

12.0%

$103,797,746

Industry

$2,392

1.8%

-3.9%

$2,904,112,771

"Automakers enjoyed a month of ideal conditions for profitability in February with incentives down nearly four percent and sales up double digits compared to year ago levels," said Kristen Andersson, analyst for TrueCar.com. "We expect incentives spending to track within a narrow range the rest of the year as the supply of vehicles and consumer demand are forecasted to increase at similar levels."

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 to the automotive industry and has been forecasting residual values for nearly 50 years in both 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.  This is why, since its founding in 2005, TrueCar dealer partners have sold nearly 700,000 vehicles across the country.  Its national network of more than 5,500 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.com



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