TrueCar: February SAAR Highest Since 2007

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

Market Share

Incentive Spending