TrueCar Forecasts Strong Sales in October; Up 5.9% Compared to Last Year

Manufacturers Expected to Spend an Average of $2,629 Per Vehicle in Incentives, Down Nearly 12% from September

Oct 23, 2014, 09:00 ET from TrueCar, Inc.

SANTA MONICA, Calif., Oct. 23, 2014 /PRNewswire/ -- TrueCar, Inc., the negotiation-free car buying and selling platform, today released its October 2014 sales and incentives forecast, which shows the following:

  • Seasonally Adjusted Annualized Rate ("SAAR") for October of 16.3 million new vehicle sales.
  • TrueCar's 2014 full year Sales Forecast remains at 16.4 million vehicles.
  • New light vehicle sales in the U.S. (including fleet) are expected to reach 1,278,800 units for the month.
    • New light vehicle sales are up 5.9% from October 2013.
    • With the same number of selling days, the Daily Selling Rate (DSR) for this October is 5.9% greater than that of October 2013.
    • Fiat Chrysler, which began trading this month on NASDAQ, is poised to have the largest YOY gain among full-line manufacturers (+21.8%), while Ford may see the largest YOY decline in sales (-5.9%).
  • Subaru, which joins TrueCar's forecast table this month, may see a 27.6% YOY increase in sales.
  • TrueCar forecasts average incentive spending by automotive manufacturers to be $2,629 per vehicle sold in October 2014, an increase of 2.2% from October 2013 and a decrease of 11.6% from September 2014.
  • Registration mix expected to be 84.8% retail and 15.2% fleet for the month, compared to 85.4% retail, and 14.6% fleet last October.
  • Total used car sales, including franchise and independent dealerships, and private party sales, are estimated to be 3,084,040, up 2.8% compared to last October.

"Fiat Chrysler's growth, fueled by Jeep and Ram, has set up a dogfight this month, with FCA, Ford and Toyota battling for second place behind GM in total volume," said John Krafcik, president of TrueCar. "Industry-wide, we're looking at the strongest October since 2004, with incentive spending at healthy levels, and on-track to finish the year at 16.4 million units."

Forecasts for the top ten manufacturers for October 2014:

Unit Sales

Manufacturer

October 2014 Forecast

% Change vs. October 2013

Fiat Chrysler

170,600

21.8%

Ford

180,000

-5.9%

GM

230,100

1.6%

Honda

124,400

8.6%

Hyundai

56,400

5.3%

Kia

42,700

7.4%

Nissan

102,100

12.2%

Subaru

44,000

27.6%

Toyota

178,500

5.6%

Volkswagen Group

48,200

7.8%

Industry

1,278,800

5.9%

Market Share

Manufacturer

October 2014 Forecast

October 2013

September 2014

Fiat Chrysler

13.3%

11.6%

13.7%

Ford

14.1%

15.8%

14.4%

GM

18.0%

18.8%

18.0%

Honda

9.7%

9.5%

9.5%

Hyundai

4.4%

4.4%

4.5%

Kia

3.3%

3.3%

3.3%

Nissan

8.0%

7.5%

8.3%

Subaru

3.4%

2.9%

3.3%

Toyota

14.0%

14.0%

13.5%

Volkswagen Group

3.8%

3.7%

3.6%

Incentive Spending

Manufacturer

October 2014 Forecast

% Change vs. October 2013

% Change vs. September 2014

Total Spending

Fiat Chrysler

$3,150

3.3%

-10.8%

$538,572,302

Ford

$3,254

-2.2%

-9.4%

$585,770,133

GM

$3,302

-3.0%

-10.0%

$759,536,402

Honda

$1,920

22.5%

-12.4%

$238,121,540

Hyundai

$1,547

-9.0%

-6.9%

$89,726,000

Kia

$2,350

10.9%

-9.1%

$108,120,245

Nissan

$2,509

16.6%

-22.4%

$255,950,000

Subaru

$627

-18.7%

-9.2%

$28,822,064

Toyota

$1,922

3.8%

-11.6%

$342,180,595

Volkswagen Group

$2,542

16.7%

-8.7%

$109,304,306

Industry

$2,629

2.2%

-11.6%

$3,351,639,149







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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