TrueCar predicts 15.4 million SAAR in February
(February 26, 2014) SANTA MONICA, Calif. — TrueCar today released its February 2014 sales and incentives forecast predicting the February SAAR will hit 15.4 million, up 1 percent year-over-year.
TrueCar's forecast includes:
• 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.
"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 |
% Change vs. February |
% Change vs. January |
|
Fiat/Chrysler |
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 |
|
Fiat/Chrysler |
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 |
|
Fiat/Chrysler |
$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 |
Email this Editorial
