July 2013 New Car Sales Expected to Be Up 15.3 Percent According to TrueCar; July 2013 SAAR at 15.8M, Highest July SAAR since 2006 Estimated incentive spending up 7.6 percent since last year at $2,684 per vehicle

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

  • For July 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,326,035 units, up 15.3 percent from July 2012 and down 5.1% percent from June 2013 (on an unadjusted basis).
  • The June 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.8 million new car sales, up from 15.9 million in June 2013 and up from 14.1 million in July 2012.
  • Retail sales are up 12.3 percent compared to July 2012 and up 0.3 percent from June 2013.
  • Fleet and rental sales are expected to make up 15.0 percent of total industry sales in July 2013.
  • The industry average incentive spending per unit will be approximately $2,684 in July 2013, which represents an increase of 7.6 percent from July 2012 and is up 0.7 percent from June 2013.
  • Used car sales* are estimated to be 3,127,912.  The ratio of new to used is estimated to be 1:3 for July 2013.

"Value conscious buyers are devouring the compact segment inventories while the recovering housing sector is fueling the small business purchases of large trucks," said Jesse Toprak, senior analyst for TrueCar.com.

"July delivered the highest year-over-year increase so far in 2013," said Toprak. "Consumer demand for new vehicles remained healthy, with small cars/SUVs and large trucks outperforming the industry sales rate.

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Forecasts for the top eight manufacturers for July 2013:

Unit Sales:

Manufacturer

July 2013 Forecast

% Change vs. June 2013

% Change vs. July 2012

Chrysler

151,172

-3.2%

20.4%

Ford

200,594

-12.9%

17.5%

GM

247,406

-6.6%

22.9%

Honda

135,656

-0.9%

16.0%

Hyundai/Kia

111,552

-3.5%

1.3%

Nissan

101,539

-2.5%

3.3%

Toyota

191,133

-2.1%

15.9%

Volkswagen Group

53,374

-1.8%

3.6%

Industry

1,326,035

-5.1%

15.3%

 

Market Share

Manufacturer

July 2013 Forecast

Jun-13

Jul-12

Chrysler

11.4%

11.2%

10.9%

Ford

15.1%

16.5%

14.8%

GM

18.7%

19.0%

17.5%

Honda

10.2%

9.8%

10.2%

Hyundai/Kia

8.4%

8.3%

9.6%

Nissan

7.7%

7.5%

8.6%

Toyota

14.4%

14.0%

14.3%

Volkswagen Group

4.0%

3.9%

4.5%

 

Incentive Spending

Manufacturer

July 2013 Incentives

% Change vs. June 2013

% Change vs. July 2012

Total Spending

Chrysler

$3,200

2.9%

7.9%

$      483,736,060

Ford

$3,006

-2.7%

11.3%

$      603,062,847

GM

$3,747

0.6%

22.3%

$      926,991,520

Honda

$1,868

3.0%

-17.5%

$      253,338,032

Hyundai/Kia

$1,789

10.1%

65.9%

$      199,535,904

Nissan

$2,490

1.0%

-21.4%

$      252,840,462

Toyota

$1,960

3.5%

7.3%

$      374,628,785

Volkswagen Group

$2,699

-0.1%

4.9%

$      144,032,357

Industry

$ 2,684

0.7%

7.6%

$  3,559,160,089

"Incentives are up almost eight percent in July as the summer sell-down season begins, dealers have more vehicles to clear out from lots than last year," said Kristen Andersson, analyst for TrueCar.com. "Hyundai/Kia is aiming to stay competitive by increasing incentives to their highest levels in almost three years." 

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 800,000 vehicles across the country. Its national network of more than 6,000 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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