June 2013 New Car Sales Expected to Be Up Nearly Eight Percent According to TrueCar; June 2013 SAAR at 15.7M, Highest June SAAR Since 2007

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

• For June 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,380,543 units, up 7.8 percent from June 2012 and down 3.9 percent from May 2013 (on an unadjusted basis).
• The June 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.7 million new car sales, up from 15.3 million in May 2013 and up from 14.4 million in June 2012.
• Retail sales are up almost seven percent compared to June 2012 and down four percent from May 2013.
• Fleet and rental sales are expected to make up 18.7 percent of total industry sales in June 2013.
• The industry average incentive spending per unit will be approximately $2,537 in June 2013, which represents a decrease of 0.6 percent from June 2012 and is down 4.4 percent from May 2013.
• Used car sales* are estimated to be 3,225,454.  The ratio of new to used is estimated to be 1:3 for June 2013.

"Despite the lackluster performance in financial markets in June, new vehicle sales reached their highest levels in six years – yet more proof that the recent surge in consumer demand is real and not going anywhere," said Jesse Toprak, senior analyst for TrueCar.com. "The better news for the automakers is that they are back to selling nearly 16 million units a year collectively while spending less on incentives, thanks to the best selection of vehicles ever in their showrooms; product is the king once again."

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Forecasts for the top eight manufacturers for June 2013:

Unit Sales

Market Share

Incentive Spending

"Incentive spending will reach its lowest level in the month of June since 2002, with the exception of 2011 when inventories were affected by the natural disaster in Japan," said Kristen Andersson, analyst for TrueCar.com. "Overall sales are strong in June and as a result automakers are able to curb incentive spending." 

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