May 2013 New Car Sales Expected to Be Up Almost Nine Percent According to TrueCar; May 2013 SAAR at 15.2M, Highest May SAAR Since 2007 Estimated incentive spending down three percent since last year at $2,482 per vehicle

SANTA MONICA, Calif., May 23, 2013 /PRNewswire/ -- TrueCar.com, the authority on new car pricing information, trends and forecasting, today released its May 2013 sales and incentives forecast.  The forecast shows the following:

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  • For May 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,435,495 units, up 8.5 percent from May 2012 and up 12.1 percent from April 2013 (on an unadjusted basis).
  • The May 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.2 million new car sales, up from 14.9 April 2013 and up from 13.9 million in May 2012.
  • Retail sales are up almost six percent compared to May 2012 and up twelve percent from April 2013.
  • Fleet and rental sales are expected to make up 20.2 percent of total industry sales in May 2013.
  • The industry average incentive spending per unit will be approximately $2,482 in May 2013, which represents a decrease of 3 percent from May 2012 and is down 1.7 percent from April 2013.
  • Used car sales* are estimated to be 3,345,674.  The ratio of new to used is estimated to be 1:3 for May 2013.

"Full size truck sales continue to gain momentum in May and we expect the segment to post a 22 percent increase compared to the nearly nine percent industry increase," said Jesse Toprak, senior analyst for TrueCar.com. "Stability in the industry is now the norm, which is a positive for automakers as it results in the ability to optimize production levels, therefore improving profitability."

Forecasts for the top eight manufacturers for May 2013:

Unit Sales

Manufacturer

May 2013 Forecast

% Change vs. April 2013

% Change vs. May 2012

Chrysler

139,436

-10.4%

-6.2%

Ford

246,829

18.4%

20.1%

GM

266,167

12.0%

8.5%

Honda

143,107

9.2%

6.8%

Hyundai/Kia

119,222

7.5%

0.4%

Nissan

115,120

31.0%

25.4%

Toyota

213,317

21.1%

5.1%

Volkswagen Group

57,988

14.1%

9.4%

Industry

1,435,495

12.1%

8.5%

 

Market Share

Manufacturer

May 2013 Forecast

April 2013

May 2012

Chrysler

9.7%

12.2%

11.2%

Ford

17.2%

16.3%

15.5%

GM

18.5%

18.6%

18.5%

Honda

10.0%

10.2%

10.1%

Hyundai/Kia

8.3%

8.7%

9.0%

Nissan

8.0%

6.9%

6.9%

Toyota

14.9%

13.8%

15.3%

Volkswagen Group

4.0%

4.0%

4.0%

 

Incentive Spending

Manufacturer

May 2013 Incentives

% Change vs. April 2013

% Change vs. May 2012

Total Spending

Chrysler

$3,223

-2.9%

2.6%

$      449,460,344

Ford

$2,990

2.3%

12.7%

$      737,986,768

GM

$3,254

-10.5%

-3.4%

$      865,975,132

Honda

$1,810

12.8%

-23.1%

$      258,954,006

Hyundai/Kia

$1,405

1.6%

13.1%

$      167,477,888

Nissan

$1,821

-15.9%

-34.2%

$      209,688,952

Toyota

$1,925

22.5%

-2.2%

$      410,560,641

Volkswagen Group

$2,393

1.2%

-5.9%

$      138,759,116

Industry

$2,482

-1.7%

-3.0%

$  3,562,162,196

"Incentive spending has continued to decline in May, painting an even better picture of profitability for automakers," said Kristen Andersson, analyst for TrueCar.com. "In May, Nissan was the only major automaker to decrease incentive spending, post a double digit sales increase and gain a full percentage point of market share compared to last year, due to continued interest in the redesigned Altima." 

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 700,000 vehicles across the country. Its national network of nearly 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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