PRN: April 2012 New Car Sales Anticipate Highest April SAAR Since 2007 According to TrueCar.com

April 2012 New Car Sales Anticipate Highest April SAAR Since 2007 According to TrueCar.com

Highest April Unit Sales Since 2008; Toyota Market Share Highest Since December 2010

[25-April-2012]
SANTA MONICA, Calif., April 25, 2012 /PRNewswire/ — TrueCar.com, the authority on new car pricing, trends and forecasting, today released its April 2012 sales and incentives forecast. The forecast shows the following:

  • For April 2012, new light vehicle sales in the U.S. (including fleet) is expected to be 1,195,809 units, up 3.4 percent from April 2011 and down 14.8 percent from March 2012 (on an unadjusted basis)
  • The April 2012 forecast translates into a Seasonally Adjusted Annualized Rate (SAAR) of 14.6 million new car sales, up from 13.2 million in April 2011 and up from 14.4 million in March 2012
  • Retail sales are up 6.7 percent compared to April 2011 and down 9.5 percent from March 2012
  • Fleet and rental sales are expected to make up 18 percent of total industry sales in April 2012
  • The industry average incentive spending per unit will be approximately $2,446 in April 2012, which represents a decrease of 4.7 percent from March 2012 and increase of 5.6 percent from April 2011
  • Used car sales* are estimated to be 3,615,148, down 2.0 percent from April 2011 but up 33.6. percent from March 2012. The ratio of new to used is estimated to be 1:3 for April 2012

“The momentum built by the recovering economy and compelling product choices in the first quarter continued to fuel new vehicle sales in April, ” said Jesse Toprak, Vice President of Market Intelligence for TrueCar.com. “Consumer demand for the smaller, fuel-efficient vehicles remain strong while the SUV and truck categories are not seeing any dramatic drop in sales – thanks to the introduction of several new models that offer significantly better fuel economy.”

Forecasts for the top eight manufacturers for April 2012:

Unit Sales
Manufacturer April 2012 Forecast % Change vs. March 2012 % Change vs. April 2011
Chrysler 138,025 -15.5% 17.7%
Ford 181,898 -18.4% -3.9%
GM 209,399 -9.4% -10.0%
Honda 115,105 -9.4% -7.8%
Hyundai/Kia 112,615 -11.5% 3.5%
Nissan 86,921 -36.2% 21.5%
Toyota 183,096 -9.9% 14.8%
Volkswagen 42,501 -11.8% 10.2%
Industry 1,195,809 -14.8% 3.4%
Market Share
Manufacturer April 2012 Forecast March 2012 April 2011
Chrysler 11.5% 11.6% 10.1%
Ford 15.2% 15.9% 16.4%
GM 17.5% 16.5% 20.1%
Honda 9.6% 9.0% 10.8%
Hyundai/Kia 9.4% 9.1% 9.4%
Nissan 7.3% 9.7% 6.2%
Toyota 15.3% 14.5% 13.8%
Volkswagen 3.6% 3.4% 3.3%
Incentive Spending
Manufacturer April 2012 Incentives % Change vs. March 2012 % Change vs. April 2011 Total Spending
Chrysler $3,071 -6.1% 10.3% $423,833,509
Ford $2,558 -9.9% 6.6% $465,269,011
GM $3,156 -3.4% 2.9% $660,816,079
Honda $2,398 8.0% 10.5% $275,972,017
Hyundai/Kia $1,223 -1.1% -4.4% $137,729,026
Nissan $2,723 -10.7% 36.4% $236,708,639
Toyota $1,823 4.4% -2.9% $333,721,236
Volkswagen $2,277 -6.1% 25.2% $96,770,490
Industry $2,446 -4.7% 5.6% $2,925,312,446

“Toyota has fully recovered from inventory shortages caused by last year’s earthquake and tsunami and have recouped most of their lost market share in April,” said Kristen Andersson, Senior Analyst at TrueCar.com. “The automaker will post their highest market share since December 2010 led by sales of fuel efficient vehicles like the Camry, Prius, and Corolla.”

TrueCar.com also projects sales down to the brand level, which can be viewed in its entirety at TrueCar Blog. Brand level incentive spending forecasts are available upon request.

TrueCar.com 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: sales, inventory, incentives, fuel prices, and macro economic data (major stock market indexes, consumer confidence, new home starts, and CPI). TrueCar.com 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, Inc.

TrueCar, Inc. is an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers. Consumers want a hassle-free car buying experience and dealers want high-quality sales velocity. TrueCar helps achieve these goals by providing unbiased market information on new car transactions and by supplying an online communications platform through which dealers and consumers can communicate with each other. TrueCar’s market-based information provides both consumers and dealers with an accurate and comprehensive understanding of what others actually paid recently for similar vehicles, both locally and nationally. TrueCar’s communications platform then allows informed, ready-to-buy consumers to communicate directly with participating dealers. Some of the nation’s largest and most well respected membership and service organizations rely on websites powered by TrueCar to help educate their membe rs and customers who are in the automotive market. TrueCar is headquartered in Santa Monica, CA, and has offices in San Francisco, CA, and Austin, TX. After experiencing dramatic growth since 2006,TrueCar is developing a suite of products and services centered on radical clarity through the comprehensive analysis of market data and information. TrueCar’s participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide.

You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.

Disclaimer

This press release and the information contained herein is for noncommercial use on “as-is, as available” basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.< /p>

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.
Jesse Toprak
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=94534

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

SOURCE TrueCar.com

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