TrueCar: February SAAR Highest Since 2007

According to TrueCar, February’s SAAR sits at 15.7 million units, the highest SAAR since 2007. Estimated incentive spending is at nearly $2,400 for the month.

by Staff

February 26, 2013

2 min to read

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