2014

Highest November SAAR Since 2007 According to TrueCar; 2013 New Car Sales Expected to be up 6.3 Percent Estimated incentive spending climbs above $2,500 per vehicle

SANTA MONICA, Calif., Nov. 27, 2013 /PRNewswire/ -- TrueCar.com, the negotiation-free car buying platform, today released its November 2013 sales and incentives forecast, which shows the following:

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  • The new car unit sales forecast for November 2013 is the best November since 2003.
  • For November 2013, new light vehicle sales in the U.S. (including fleet) are expected to be 1,211,120 units, up 6.3 percent from November 2012 and up 0.8 percent from October 2013.
  • The November 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.8 million new car sales, up 4.3 percent from October 2013 and up 2.2 percent over November 2012.
  • Retail sales are up 1 percent compared to November 2012 and up .3 percent from October 2013.
  • Fleet and rental sales are expected to make up 16.1 percent of total industry sales in November 2013.
  • The industry average incentive spending per unit will be approximately $2,507 in November 2013, which represents an increase of 0.7 percent from November 2012 but a decrease of -2.1 percent from October 2013. Incentives are at their lowest levels since January 2013.
  • Used car sales* are estimated to be 3,000,508. The ratio of new to used is estimated to be 1.2:3 for November 2013.

"Dealerships across the country continued to experience robust sales numbers in November, fueled by attractive discounts on the outgoing 2013 model year vehicles as well as several new, compelling 2014 model year introductions," said Jesse Toprak, senior analyst for TrueCar.com. "We are on track to reach nearly 15.7 million new vehicles sold in 2013, followed by our forecast of 16.5 million units in 2014."

Forecasts for the top eight manufacturers for November 2013:

Unit Sales

Manufacturer

November 2013

Forecast

% Change vs. October

2013

% Change vs. November

 2012

Chrysler

140,753

1.4%

15.5%

Ford

181,338

-3.4%

4.5%

GM

218,451

-3.5%

17.1%

Honda

119,848

4.6%

2.8%

Hyundai/Kia

94,168

0.9%

-0.4%

Nissan

99,026

8.8%

2.9%

Toyota

171,426

1.4%

6.0%

Volkswagen Group

45,670

2.2%

-13.3%

Industry

1,211,120

0.8%

6.3%

Market Share

Manufacturer

November 2013

 Forecast

Oct-13

Nov-12

Chrysler

11.6%

11.5%

10.7%

Ford

15.0%

15.6%

15.2%

GM

18.0%

18.8%

16.4%

Honda

9.9%

9.5%

10.2%

Hyundai/Kia

7.8%

7.8%

8.3%

Nissan

8.2%

7.6%

8.4%

Toyota

14.2%

14.1%

14.2%

Volkswagen Group

3.8%

3.7%

4.6%

Incentive Spending

Manufacturer

Nov. 2013

 Incentives

% Change vs.

Oct. 2013

% Change vs.

Nov. 2012

Total Spending

Chrysler

$2,756

-6.0%

-12.3%

$     387,931,695

Ford

$3,317

-0.4%

23.4%

$     601,517,128

GM

$3,067

-9.9%

8.4%

$     669,925,572

Honda

$1,724

10.0%

-18.6%

$     206,676,264

Hyundai/Kia

$1,858

-1.1%

25.9%

$     174,942,826

Nissan

$2,554

18.7%

-10.7%

$     252,935,168

Toyota

$1,876

1.6%

3.7%

$     321,644,972

Volkswagen Group

$2,332

1.2%

8.8%

$        97,451,322

Industry

$2,507

-2.1%

0.7%

$ 3,032,220,588

"Overall incentive spending hit its lowest level since January," said Kristen Andersson, analyst at TrueCar.com. "Chrysler's incentive spending dips to its lowest level since January 2003 as their strong product lineup is driving a double-digit sales increase this month." 

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.com is the negotiation-free car buying platform. TrueCar.com empowers car buyers by giving them transparent insight into what others actually paid, upfront pricing info, a guaranteed savings certificate and a connection to a trusted TrueCar Certified Dealer to seamlessly complete the car purchase. The reality is buying a car is painful and buyers fear they are going to overpay. TrueCar.com's transparent upfront pricing information and guaranteed savings certificate makes the car buying process simple so buyers never overpay. TrueCar.com's mission is to prove that truth and transparency are a more profitable way of doing business -- starting with cars. TrueCar.com users and dealers have completed over 1 million automobile transactions representing over $33.6 billion in sales since inception. This has resulted in TrueCar.com users saving over $3.4 billion off of MSRP. Its national network of nearly 7,000 TrueCar Certified Dealers is committed to providing negotiation-free pricing for some of the country's largest membership and service organizations, including AARP, American Express, AAA and Consumer Reports. Note: Not all program features are available in all states.  Go to www.truecar.com for program details. TrueCar.com is a privately held company headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.

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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