Welcome!

News Feed Item

February SAAR to Hit 15.4 According to TrueCar; 2014 New Vehicle Sales Expected to be up 1 Percent Year-Over-Year

Estimated incentive spending climbs above $2,600 per vehicle - highest since 2010

SANTA MONICA, Calif., Feb. 25, 2014 /PRNewswire/ -- TrueCar, the negotiation-free car buying platform, today released its February 2014 sales and incentives forecast, which shows the following:

  • New light vehicle sales in the U.S. (including fleet) are expected to be 1,197,000 units, up 0.5 percent from February 2013 and up 18.5 percent from January 2014.
  • Seasonally Adjusted Annualized Rate ("SAAR") of 15.4 million new vehicle sales is up 1.0 percent from February 2013 and up 0.6 percent over January 2014.
  • Share of retail sales is up 2.9 percent compared to February 2013 and down 0.7 percent from January 2014.
  • Fleet and rental sales are expected to make up 19.7 percent of total industry sales in February 2014.
  • The industry average incentive spending per unit will be approximately $2,633 in February 2014, an increase of 5.1 percent from February 2013, and an increase of 3.3 percent from January 2014.
  • Used car sales* are estimated to be 3,302,000. The ratio of new to used is estimated to be 1:2.8 for February 2014.

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

"With February incentives hitting a three-year high and inventory levels at their peak since 2009, we expect elevated incentive spending to continue," said Larry Dominique, President of ALG and Executive Vice President of TrueCar. "March is going to be a 'must-win' month for dealers if they hope to have a successful 2014."

Forecasts for the top eight manufacturers for February 2014:

Unit Sales

Manufacturer

February 2014
Forecast

% Change vs. February
2013

% Change vs. January
2014

FCA

147,000

5.7%

15.6%

Ford

182,000

-6.8%

18.6%

GM

211,000

-5.9%

23.0%

Honda

109,000

0.9%

19.0%

Hyundai/Kia

95,000

1.3%

17.3%

Nissan

113,000

13.4%

24.9%

Toyota

166,000

-0.2%

13.4%

Volkswagen Group

46,000

1.9%

25.4%

Industry

1,197,000

0.5%

18.5%


Market Share

Manufacturer

February 2014 Forecast

Feb-13

Jan-14

FCA

12.3%

11.7%

12.6%

Ford

15.2%

16.4%

15.2%

GM

17.6%

18.8%

17.0%

Honda

9.1%

9.1%

9.1%

Hyundai/Kia

7.9%

7.9%

8.0%

Nissan

9.4%

8.4%

9.0%

Toyota

13.9%

14.0%

14.5%

Volkswagen Group

3.8%

3.8%

3.6%


Incentive Spending

Manufacturer

Feb. 2014 Incentives

% Change vs.

Feb. 2013

% Change vs.

Jan. 2014

Total Spending

FCA

$3,012

-10.1%

3.0%

$    442,747,322

Ford

$3,305

15.6%

2.2%

$     601,580,035

GM

$3,204

-5.1%

1.4%

$     676,022,736

Honda

$2,043

45.9%

4.4%

$     222,708,357

Hyundai/Kia

$1,978

35.5%

2.0%

$     187,870,737

Nissan

$2,613

2.8%

3.5%

$    297,249,669

Toyota

$1,915

22.7%

3.2%

$    317,897,527

Volkswagen Group

$2,581

28.0%

4.6%

$     117,587,446

Industry

$2,633

5.1%

3.3%

$ 3,148,314,510

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 information, and a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and 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 is a more profitable way of doing business -- starting with automotive. 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.

SOURCE TrueCar

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
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...