TrueCar Forecasts 17 Million SAAR in November as Early Black Friday Events Prime the Market

Best November since 2001; automaker incentive spending down 2 percent from October

25 Nov, 2014, 09:15 ET from TrueCar, Inc.

SANTA MONICA, Calif., Nov. 25, 2014 /PRNewswire/ -- TrueCar, Inc., the negotiation-free car buying and selling platform, forecasts the pace of auto sales in November accelerated to a seasonally adjusted annualized rate ("SAAR") of 17 million new units with the early launch of Black Friday sales campaigns. 

New light vehicle sales in the U.S. (including fleet) are expected to reach 1,296,700 units for the month, up 4.1 percent from a year ago. On a daily selling rate (DSR) basis, with one less selling day this November, deliveries are expected to rise 8.2 percent. Among larger volume brands, Subaru is projected to have the biggest gain with a 25.6 percent increase. Hyundai may post the largest decline with sales down 7.2 percent from a year ago.

"Black Friday has established itself as the start of the final epic selling season of the year, and this year that season has started earlier than ever," said John Krafcik, president of TrueCar. "Hard-hitting sales events, great new products, and receptive consumers are driving a 17 million SAAR in November -- that's terrific for the industry and a positive sign as we look to 2015."

Auto manufacturers' incentive spending averaged $2,660 per vehicle in November, down 0.2 percent from a year earlier and a decrease of 2.3 percent from October 2014.

Other key findings for the month include:

  • Expected registration mix of 86.5 percent retail sales and 13.5 percent fleet versus 86.6 percent retail and 13.4 percent fleet last November.
  • Total used auto sales, including franchise and independent dealerships and private party transactions, are estimated to be over 3,079,327, up 23.7 percent compared to last November.

Forecasts for the 10 largest manufacturers by volume for November 2014:

Unit Sales

Manufacturer

November 2014 Forecast

% Change vs. November 2013

Fiat Chrysler

171,300

19.7%

Ford

187,500

-1.2%

GM

225,000

6.1%

Honda

127,000

9.0%

Hyundai

52,000

-7.2%

Kia

45,000

-0.9%

Nissan

106,000

-0.5%

Subaru

46,000

25.6%

Toyota

183,100

2.8%

Volkswagen Group

50,100

2.8%

Industry

1,296,700

4.1%

Market Share

Manufacturer

November 2014 Forecast

November 2013

October 2014

Fiat Chrysler

13.2%

11.5%

13.4%

Ford

14.5%

15.2%

14.7%

GM

17.4%

17.0%

17.7%

Honda

9.8%

9.4%

9.5%

Hyundai

4.0%

4.5%

3.9%

Kia

3.5%

3.6%

3.5%

Nissan

8.2%

8.6%

8.1%

Subaru

3.5%

2.9%

3.4%

Toyota

14.1%

14.3%

14.1%

Volkswagen Group

3.9%

3.9%

3.9%

Incentive Spending

Manufacturer

November 2014 Forecast

% Change vs. November 2013

% Change vs. October 2014

Total Spending

Fiat Chrysler

$3,027

3.4%

-2.3%

$515,195,192

Ford

$3,217

-4.1%

0.5%

$603,113,449

GM

$3,304

-7.1%

0.1%

$743,325,356

Honda

$1,928

1.7%

4.5%

$244,849,149

Hyundai

$1,381

-9.4%

0.1%

$71,812,000

Kia

$2,495

24.4%

0.2%

$112,275,000

Nissan

$2,567

-5.7%

-21.8%

$272,100,000

Subaru

$592

-25.5%

-0.5%

$27,224,286

Toyota

$1,931

-0.9%

2.5%

$353,584,326

Volkswagen Group

$2,573

17.0%

-1.0%

$127,873,229

Industry

$2,660

-0.2%

-2.3%

$3,439,940,636







About TrueCar 
TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar's transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar's mission is to make car buying simple, fair and fun. Its national network of more than 9,000 TrueCar Certified Dealers, including both new car franchise dealers and non-franchise dealers, is committed to providing negotiation-free savings off MSRP and upfront pricing information for all car-buyers, including members of some of the country's largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.

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SOURCE TrueCar, Inc.



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