Welcome!

News Feed Item

January SAAR to Hit 15.6 According to TrueCar; 2014 New Vehicle Sales Expected to be up 2.7 Year-Over-Year

Estimated incentive spending decreases to $2,452 per vehicle

SANTA MONICA, Calif., Jan. 29, 2014 /PRNewswire/ -- TrueCar, the negotiation-free car buying platform, today released its January 2014 sales and incentives forecast, which shows the following:

  • For January 2014, new light vehicle sales in the U.S. (including fleet) are expected to be 1,050,000 units, up 0.9 percent from January 2013.
  • The January 2014 forecast translates into a Seasonally Adjusted Annualized Rate ("SAAR") of 15.6 million new vehicle sales, up 2.7 percent over January 2013.
  • Share of retail sales are up 3.5 percent compared to January 2013 and down 0.8 percent from December 2013.
  • Fleet and rental sales are expected to make up 17.9 percent of total industry sales in January 2014.
  • The industry average incentive spending per unit will be approximately $2,452 in January 2014, a decrease of 3.1 percent from January 2013 and a decrease of 10.4 percent from December 2013.
  • Used car sales* are estimated to be 4,007,000. The ratio of new to used is estimated to be 1:2.8 for January 2014.

"January has been moving along at a steady pace," said Larry Dominique, President of ALG and Executive Vice President of TrueCar. "Sales are up slightly over last January, which is a positive start to the year."

Forecasts for the top eight manufacturers for January 2014:

Unit Sales

Manufacturer

Unit Sales Forecast

Chrysler

121,000

Ford

153,000

GM

190,000

Honda

98,000

Hyundai/Kia

81,000

Nissan

98,000

Toyota

155,000

Volkswagen Group

43,000

Industry

1,049,500

Market Share

Manufacturer

January 2014 Forecast

December 2013

January 2013

Chrysler

11.5%

11.8%

11.3%

Ford

14.6%

15.6%

15.7%

GM

18.1%

17.0%

18.7%

Honda

9.3%

10.0%

9.0%

Hyundai/Kia

7.7%

7.1%

7.7%

Nissan

9.3%

8.1%

7.8%

Toyota

14.8%

14.1%

15.2%

Volkswagen Group

4.1%

4.0%

4.1%

Percentage Point Change in Market Share – January 2014 vs. January 2013

Manufacturer

Percentage Point Change

Ford

-1.1%

GM

-0.6%

Toyota

-0.4%

Volkswagen Group

0.0%

Hyundai/Kia

0.0%

Chrysler

0.3%

Honda

0.3%

Nissan

1.6%

Incentive Spending

Manufacturer

January 2014 Forecast

% Change vs. December 2013

% Change vs. January 2013

Forecast Total Incentive Spending

Chrysler

$2,623

-10.0%

-19.6%

$350,781,077

Ford

$3,123

-8.1%

14.6%

$500,532,417

GM

$3,376

-7.5%

-3.6%

$610,802,191

Honda

$1,769

-8.4%

12.6%

$231,678,058

Hyundai/Kia

$1,649

-0.6%

8.6%

$162,239,608

Nissan

$2,572

-8.4%

7.2%

$257,805,114

Toyota

$1,843

-10.3%

0.4%

$337,518,045

Volkswagen Group

$2,101

-11.3%

-0.4%

$101,023,096

Other

$2,368

-8.5%

-8.3%

$355,784,521

Industry

$2,452

-10.4%

-3.1%

$2,908,164,127

"Incentive spend is down short-term, with Chrysler and GM having reduced incentives," said Dominique. "That said, incentives and fleet will quickly become attractive levers to pull if OEMs realize they've overreached on their sales goals."  

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.

*Used car sales figures include sales from franchise dealerships, independent dealerships and private party sales

About TrueCar

TrueCar is the negotiation-free car buying platform. TrueCar empowers car buyers by giving them transparent insight into what others actually paid, upfront pricing info, a guaranteed savings certificate and a connection to a trusted TrueCar Certified Dealer to seamlessly complete the car purchase. The reality is buying a car is painful and buyers fear they are going to overpay. TrueCar's transparent upfront pricing information and guaranteed savings certificate make the car buying process simple so buyers never overpay. TrueCar's mission is to prove that truth and transparency are a more profitable way of doing business -- starting with cars. TrueCar users and its Certified Dealers have completed over 1 million automobile transactions since inception, and nearly 400,000 in 2013. Its national network of more than 7,000 TrueCar Certified Dealers is committed to providing negotiation-free savings for some of the country's largest membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports. Note: Not all program features are available in all states.  Go to www.truecar.com for program details. TrueCar is a privately held company headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas. 

(Logo: http://photos.prnewswire.com/prnh/20110118/LA31413LOGO)

SOURCE TrueCar.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...