Click here to close now.

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
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult – let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and liv...
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, reviewed the changes that the cloud computing industry has gone through over the last five years and shared insights into what the next five will bring. He also chronicled the challenges enterprise companies are facing as they move to the public cloud. He delved into the "Hybrid Cloud" space and explained why every CIO should consider ‘hybrid cloud' as part of their future strategy to achie...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
"A lot of the enterprises that have been using our systems for many years are reaching out to the cloud - the public cloud, the private cloud and hybrid," stated Reuven Harrison, CTO and Co-Founder of Tufin, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
17th Cloud Expo, taking place Nov 3-5, 2015, 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 enterprises ar...
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users? Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
"We help to transform an organization and their operations and make them more efficient, more agile, and more nimble to move into the cloud or to move between cloud providers and create an agnostic tool set," noted Jeremy Steinert, DevOps Services Practice Lead at WSM International, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.