March 2013 New Car Sales Expected to Be Up Almost Five Percent According to TrueCar; March 2013 SAAR at 15.42M, Highest March SAAR Since 2007
Estimated incentive spending unchanged at $2,523 per vehicle
SANTA MONICA, Calif., March 26, 2013 /PRNewswire/ --TrueCar.com, the authority on new car pricing information, trends and forecasting, today released its March 2013 sales and incentives forecast. The forecast shows the following:
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- ForMarch 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,466,956 units, up 4.5 percent fromMarch 2012 and up 23.1 percent fromFebruary 2013 (on an unadjusted basis).
- The March 2013 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.42 million new car sales, up from 15.4 million in February 2013 and up from 14.1 million in March 2012.
- Retail sales are up 4.2 percent compared to March 2012 and up 20.2 percent from February 2013.
- Fleet and rental sales are expected to make up 21.0 percent of total industry sales in March 2013.
- The industry average incentive spending per unit will be approximately $2,523 in March 2013, which represents a decrease of 1.7 percent from March 2012 and is unchanged from February 2013.
- Used car sales* are estimated to be 2,891,896. The ratio of new to used is estimated to be 1:2 for March 2013.
"The rally in the stock market, improved availability of auto financing and compelling new products continued to propel new car sales in March," said Jesse Toprak, senior analyst for TrueCar.com. "The Domestic 'Big Three' will all have their highest level of sales in over four years thanks to their much improved lineup of vehicles."
Forecasts for the top eight manufacturers for March 2013:
Unit Sales
Manufacturer | March 2013 Forecast | % Change vs. February 2013 | % Change vs. March 2012 |
Chrysler | 170,091 | 22.4% | 4.1% |
Ford | 232,494 | 19.0% | 4.3% |
GM | 261,141 | 16.4% | 13.0% |
Honda | 139,870 | 29.5% | 10.1% |
Hyundai/Kia | 113,973 | 21.5% | -10.4% |
Nissan | 136,604 | 37.1% | 0.2% |
Toyota | 206,708 | 24.2% | 1.7% |
Volkswagen | 53,027 | 25.3% | 10.1% |
Industry | 1,466,956 | 23.1% | 4.5% |
Market Share
Manufacturer | March 2013 Forecast | February 2013 | March 2012 |
Chrysler | 11.6% | 11.7% | 11.6% |
Ford | 15.8% | 16.4% | 15.9% |
GM | 17.8% | 18.8% | 16.5% |
Honda | 9.5% | 9.1% | 9.0% |
Hyundai/Kia | 7.8% | 7.9% | 9.1% |
Nissan | 9.3% | 8.4% | 9.7% |
Toyota | 14.1% | 14.0 % | 14.5% |
Volkswagen | 3.6% | 3.6% | 3.4% |
Incentive Spending
Manufacturer | March 2013 Incentives | % Change vs. February 2013 | % Change vs. March 2012 | Total Spending |
Chrysler | $3,264 | 0.8% | -0.2% | $555,100,503 |
Ford | $2,843 | -1.8% | 0.1% | $661,025,806 |
GM | $3,453 | 2.3% | 5.7% | $901,689,922 |
Honda | $1,531 | 9.3% | -31.0% | $214,187,015 |
Hyundai/Kia | $1,369 | -6.2% | 10.6% | $156, 001, 622 |
Nissan | $2,765 | 3.6% | -9.4% | $377,698,832 |
Toyota | $1,515 | -4.6% | -13.2% | $313,083,236 |
Volkswagen | $2,341 | -1.2% | -5.2% | $124,162,555 |
Industry | $2,523 | 0.0% | -1.7% | $3,701,126,407 |
"Automakers have continued to maintain discipline in incentive spending throughout this past year, and in March, unit sales reached their highest levels since August 2007," said Kristen Andersson, analyst for TrueCar.com. "Toyota is spending at its lowest levels in almost two years while seeing its highest sales month since summer of 2009."
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
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 http://TrueCar.com
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