June SAAR to Hit 16.4 Million Vehicles, According to TrueCar; 2014 New Vehicle Sales Expected to be up 1.0 Percent Year-Over-Year
Estimated incentive spending at $2,735 per vehicle
SANTA MONICA, Calif., June 25, 2014 /PRNewswire/ -- TrueCar, Inc. the negotiation-free car-buying platform, today released its June 2014 sales and incentives forecast, which shows the following:
- New light vehicle sales in the U.S. (including fleet) are expected to reach 1,416,000 units, up 1.0 percent from June 2013 and down 11.9 percent from May 2014.
- Seasonally Adjusted Annualized Rate ("SAAR") of 16.4 million new vehicle sales is up 3.2 percent from June 2013 and down 1.8 percent over May 2014.
- Share of retail sales is expected to be up 1.5 percent compared to June 2013 and up 0.1 percent from May 2014.
- Fleet and rental sales are expected to make up 16.6 percent of total industry sales in June 2014.
- The industry average incentive spending per unit will be approximately $2,735 in June 2014, an increase of 1.6 percent from June 2013 and an increase of 2.4 percent from May 2014.
- Used car sales, including sales from franchise dealerships, independent dealerships and private party sales, are estimated to be 3,205,923. The ratio of new to used is estimated to be 1:2.3 for June 2014.
"Summer selling season is off to an even better start than last year, despite one fewer weekend this June," said John Krafcik, president of TrueCar. "Strong retail sales and stable incentive spending heading into the heart of summer give us confidence that 2014 will be the best year for automakers and dealers since 2007."
Forecasts for the top eight manufacturers for June 2014:
| Unit Sales |
|||
| Manufacturer |
June 2014 Forecast |
% Change vs. June 2013 |
% Change vs. May 2014 |
| Chrysler |
170,000 |
8.9% |
-12.6% |
| Ford |
219,000 |
-6.8% |
-13.6% |
| GM |
257,000 |
-3.0% |
-9.7% |
| Honda |
137,000 |
0.1% |
-10.2% |
| Hyundai |
67,000 |
3.1% |
-5.5% |
| Kia |
52,000 |
2.9% |
-13.5% |
| Nissan |
110,000 |
5.6% |
-19.1% |
| Toyota |
208,000 |
6.5% |
-14.5% |
| Volkswagen Group |
52,000 |
-4.3% |
-2.6% |
| Industry |
1,416,000 |
1.0% |
-11.9% |
| Market Share |
|||
| Manufacturer |
June 2014 Forecast |
Jun-13 |
May-14 |
| Chrysler |
12.0% |
11.1% |
12.1% |
| Ford |
15.5% |
16.8% |
15.8% |
| GM |
18.1% |
18.9% |
17.7% |
| Honda |
9.7% |
9.8% |
9.5% |
| Hyundai |
4.7% |
4.6% |
4.4% |
| Kia |
3.7% |
3.6% |
3.7% |
| Nissan |
7.8% |
7.4% |
8.5% |
| Toyota |
14.7% |
13.9% |
15.1% |
| Volkswagen Group |
3.7% |
3.9% |
3.3% |
| Incentive Spending |
||||
| Manufacturer |
June 2014 Incentives |
% Change vs. June 2013 |
% Change vs. May 2014 |
Total Spending |
| Chrysler |
$ 3,480 |
9.8% |
8.4% |
$ 591,620,712 |
| Ford |
$ 3,374 |
9.3% |
2.4% |
$ 738,955,578 |
| GM |
$ 3,280 |
-11.9% |
2.0% |
$ 842,922,300 |
| Honda |
$ 2,009 |
10.8% |
3.0% |
$ 275,218,724 |
| Hyundai |
$ 2,012 |
43.1% |
5.0% |
$ 134,830,606 |
| Kia |
$ 2,403 |
26.0% |
2.8% |
$ 124,944,008 |
| Nissan |
$ 2,125 |
-12.2% |
-6.7% |
$ 233,750,000 |
| Toyota |
$ 2,044 |
7.9% |
2.6% |
$ 425,126,507 |
| Volkswagen Group |
$ 3,096 |
14.7% |
6.0% |
$ 161,013,618 |
| Industry |
$ 2,735 |
1.6% |
2.4% |
$ 3,866,974,679 |
TrueCar 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 inventory, incentives, fuel prices and macro economic data (major stock market indexes, consumer confidence, new home starts and CPI). TrueCar does not adjust for selling days in year-over-year percentage change calculations.
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 8,000 TrueCar Certified Dealers is committed to providing negotiation-free savings off MSRP 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.com
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