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TrueCar: February SAAR Highest Since 2007

February 26, 2013

SANTA MONICA, Calif. — TrueCar.com reported this week that light vehicle sales in February are on pace to top 1.2 million units, which, if realized, would mark a 5.7 percent increase from February 2012 and a 16.5 percent increase from January 2013 (on an unadjusted basis).

The February 2013 forecast translates into a seasonally adjusted annualized rate (SAAR) of 15.7 million new vehicle sales, up from 14.5 million in February 2012 and up from 15.3 million in January 2013. Meanwhile, retail sales are up 5.2 percent compared to February 2012 and up 20.6 percent from January 2013.

Fleet and rental sales are expected to make up 21 percent of total industry sales this month

Average incentive spending per unit, according to TrueCar, is expected to be at approximately $2,392, which, if realized, would represent a 3.9 percent decrease from February 2012 but an increase of 1.8 percent from January.

TrueCar also predicted that use-car sales should total more than 3.4 million units, up from 3.25 million in the same month one year ago. The vehicle information site also estimates that the industry will sell one new vehicle for every three vehicles sold.

“The unusual strength of the full-size truck segment in February helped industry sales to nearly reach the 15.7 million SAAR mark, despite gas prices increasing,” said Jesse Toprak, senior analyst for TrueCar.com. “Pent-up demand for pickup trucks by small businesses will be a critical factor in this year's continued sales recovery.”

Forecasts for the top eight manufacturers for February 2013:

Unit Sales

Manufacturer

February 2013 Forecast

% Change vs. January 2012

% Change vs. February 2012

Chrysler

145,665

23.7%

9.1%

Ford

199,843

20.5%

11.9%

GM

221,019

13.5%

5.6%

Honda

112,708

20.4%

2.3%

Hyundai/Kia

89,578

12.0%

-6.9%

Nissan

101,748

25.7%

-4.7%

Toyota

168,917

7.1%

6.0%

Volkswagen

44,629

14.2%

14.1%

Industry

1,214,194

16.5%

5.7%

 

 

Market Share

Manufacturer

February 2013 Forecast

January 2013

February 2012

Chrysler

12.0%

11.3%

11.6%

Ford

16.5%

15.9%

15.6%

GM

18.2%

18.7%

18.2%

Honda

9.3%

9.0%

9.6%

Hyundai/Kia

7.4%

7.7%

8.4%

Nissan

8.4%

7.8%

9.3%

Toyota

13.9%

15.1%

13.9%

Volkswagen

3.7%

3.7%

3.4%

 

 

Incentive Spending

Manufacturer

February 2013 Incentives

% Change vs. January 2013

% Change vs. February 2012

Total Spending

Chrysler

$3,010

-0.3%

-1.3%

$438,503,123

Ford

$2,711

3.6%

-4.3%

$541,730,520

GM

$3,143

-0.3%

0.9%

$694,566,310

Honda

$1,291

6.3%

-39.3%

$145,529,432

Hyundai/Kia

$1,420

1.9%

18.8%

$127,203,722

Nissan

$2,428

10.5%

-24.9%

$247,013,770

Toyota

$1,681

-1.6%

3.8%

$284,033,376

Volkswagen

$2,326

-2.4%

12.0%

$103,797,746

Industry

$2,392

1.8%

-3.9%

$2,904,112,771

 

 

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