TrueCar Forecasts Strong Sales in October; Up 5.9% Compared To Last Year

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TrueCar, Inc., the negotiation-free car buying and selling platform, today released its October 2014 sales and incentives forecast, which shows the following: Seasonally Adjusted Annualized Rate ("SAAR") for October of 16.3 million new vehicle sales. TrueCar's 2014 full year Sales Forecast remains at 16.4 million vehicles. New light vehicle sales in the U.S. (including fleet) are expected to reach 1,278,800 units for the month. New light vehicle sales are up 5.9% from October 2013. With the same number of selling days, the Daily Selling Rate (DSR) for this October is 5.9% greater than that of October 2013. Fiat Chrysler, which began trading this month on NASDAQ, is poised to have the largest YOY gain among full-line manufacturers (+21.8%), while Ford may see the largest YOY decline in sales (-5.9%). Subaru, which joins TrueCar's forecast table this month, may see a 27.6% YOY increase in sales. TrueCar forecasts average incentive spending by automotive manufacturers to be $2,629 per vehicle sold in October 2014, an increase of 2.2% from October 2013 and a decrease of 11.6% from September 2014. Registration mix expected to be 84.8% retail and 15.2% fleet for the month, compared to 85.4% retail, and 14.6% fleet last October. Total used car sales, including franchise and independent dealerships, and private party sales, are estimated to be 3,084,040, up 2.8% compared to last October. "Fiat Chrysler's growth, fueled by Jeep and Ram, has set up a dogfight this month, with FCA, Ford and Toyota battling for second place behind GM in total volume," said John Krafcik, president of TrueCar. "Industry-wide, we're looking at the strongest October since 2004, with incentive spending at healthy levels, and on-track to finish the year at 16.4 million units." Forecasts for the top ten manufacturers for October 2014: Unit Sales Manufacturer October 2014 Forecast % Change vs. October 2013 Fiat Chrysler 170,600 21.8% Ford 180,000 -5.9% GM 230,100 1.6% Honda 124,400 8.6% Hyundai 56,400 5.3% Kia 42,700 7.4% Nissan 102,100 12.2% Subaru 44,000 27.6% Toyota 178,500 5.6% Volkswagen Group 48,200 7.8% Industry 1,278,800 5.9% Market Share Manufacturer October 2014 Forecast October 2013 September 2014 Fiat Chrysler 13.3% 11.6% 13.7% Ford 14.1% 15.8% 14.4% GM 18.0% 18.8% 18.0% Honda 9.7% 9.5% 9.5% Hyundai 4.4% 4.4% 4.5% Kia 3.3% 3.3% 3.3% Nissan 8.0% 7.5% 8.3% Subaru 3.4% 2.9% 3.3% Toyota 14.0% 14.0% 13.5% Volkswagen Group 3.8% 3.7% 3.6% Incentive Spending Manufacturer October 2014 Forecast % Change vs. October 2013 % Change vs. September 2014 Total Spending Fiat Chrysler $3,150 3.3% -10.8% $538,572,302 Ford $3,254 -2.2% -9.4% $585,770,133 GM $3,302 -3.0% -10.0% $759,536,402 Honda $1,920 22.5% -12.4% $238,121,540 Hyundai $1,547 -9.0% -6.9% $89,726,000 Kia $2,350 10.9% -9.1% $108,120,245 Nissan $2,509 16.6% -22.4% $255,950,000 Subaru $627 -18.7% -9.2% $28,822,064 Toyota $1,922 3.8% -11.6% $342,180,595 Volkswagen Group $2,542 16.7% -8.7% $109,304,306 Industry $2,629 2.2% -11.6% $3,351,639,149
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