Welcome!

News Feed Item

April SAAR to Hit 16.2 Million Vehicles, According to TrueCar; 2014 New Vehicle Sales Expected to be up 8 Percent Year-Over-Year

Estimated incentive spending hits $2,750 per vehicle

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

  • New light vehicle sales in the U.S. (including fleet) are expected to reach 1,382,000 units, up 7.5 percent from April 2013 and down 10.0 percent from March 2014.
  • Seasonally Adjusted Annualized Rate ("SAAR") of 16.2 million new vehicle sales is up 9.2 percent from April 2013 and down 0.5 percent over March 2014.
  • Share of retail sales is expected to be up 2.2 percent compared to April 2013 and up 2.8 percent from March 2014.
  • Fleet and rental sales are expected to make up 16.9 percent of total industry sales in April 2014.
  • The industry average incentive spending per unit will be approximately $2,751 in April 2014, an increase of 8.9 percent from April 2013 and an increase of 1.0 percent from March 2014.
  • Used car sales* are estimated to be 3,404,000. The ratio of new to used is estimated to be 1:2.5 for April 2014.
TrueCar Logo.

"Automakers were determined to make sure March sales momentum continued in April, putting sales back on track for 2014," said Larry Dominique, President of ALG and Executive Vice President of TrueCar.  "This month, the Asian manufacturers turned up the incentive dial, while the Domestic manufacturers remained more restrained."

Forecasts for the top eight manufacturers for April 2014:

Unit Sales

Manufacturer

April

 2014 Forecast

% Change vs. April 2013

% Change vs. March 2014

Chrysler

180,000

14.9%

-7.2%

Ford

211,000

-0.5%

-13.3%

GM

253,000

6.5%

-1.2%

Honda

141,000

7.6%

5.8%

Hyundai/Kia

113,000

1.9%

-7.2%

Nissan

100,000

13.8%

-32.9%

Toyota

200,000

13.5%

-7.1%

Volkswagen Group

48,000

-5.6%

-12.4%

Industry

1,382,000

7.5%

-10.0%

 

Market Share

Manufacturer

April

 2014 Forecast

Apr-13

Mar-14

Chrysler

13.0%

12.2%

12.6%

Ford

15.3%

16.5%

15.9%

GM

18.3%

18.5%

16.7%

Honda

10.2%

10.2%

8.7%

Hyundai/Kia

8.2%

8.6%

7.9%

Nissan

7.2%

6.8%

9.7%

Toyota

14.5%

13.7%

14.0%

Volkswagen Group

3.5%

4.0%

3.6%

 

Incentive Spending

Manufacturer

Apr. 2014 Incentives

% Change vs.

Apr. 2013

% Change vs.

Mar. 2014

Total Spending

Chrysler

$3,260

-1.6%

1.5%

$     586,819,366

Ford

$3,212

9.9%

-3.9%

$     677,708,554

GM

$3,562

-2.0%

4.7%

$     901,216,371

Honda

$2,120

32.2%

0.4%

$     298,936,498

Hyundai/Kia

$2,087

51.0%

-0.3%

$     235,882,371

Nissan

$2,763

27.6%

2.2%

$     276,292,736

Toyota

$1,713

9.0%

-2.7%

$     342,694,715

Volkswagen Group

$2,778

17.5%

-0.5%

$     133,353,621

Industry

$2,751

8.9%

1.0%

$ 3,796,375,806

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.

Logo - http://photos.prnewswire.com/prnh/20110118/LA31413LOGO

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
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).