Market Overview

TrueCar Comments on Feb. Auto Sales

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TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling mobile marketplace, finds
that amid the best auto industry and economic fundamentals in a decade, higher
new vehicle sales and transaction prices in February generated $41.8 billion
of revenue for automakers, an 11.6 percent jump over a year ago.

TrueCar estimates sales of new cars and light trucks expanded 8.5 percent last
month, reaching the best February volume since 2002. The average transaction
price (ATP) for light vehicles was $32,245, up 2.8 percent over a year ago,
while average incentive spending per unit decreased by $79 to $2,623. The
ratio of incentive spending to ATP was 8.1 percent, contracting from 8.6
percent versus the prior year.

"February yielded attractive net revenue gains for auto manufacturers during
this second consecutive month of double-digit growth," said Eric Lyman, vice
president of industry insights for TrueCar. "With West Coast port labor
disputes resolved, strong new vehicle sales and industry incentive spending to
average transaction prices at reasonable levels, the health of the industry
and automotive outlook for 2015 remain remarkably bright."

Robust automotive sector performance coupled with personal savings growth and
a slight increase in inflation-adjusted consumer spending signal a strong
footing for the U.S. economy, Lyman said.

Average Transaction Price (ATP)

Feb. 2015 Percent Percent
Manufacturer Forecast Feb. 2014 Jan. 2015 Change vs. Change vs.
Feb. 2014 Jan. 2015
FCA (Chrysler, Dodge, $31,531 $30,404 $31,967 3.7% -1.4%
Jeep, Ram, Fiat)
Ford (Ford, Lincoln) $34,508 $33,597 $34,667 2.7% -0.5%
GM (Buick, Cadillac, $35,293 $33,276 $35,275 6.1% 0.1%
Chevrolet, GMC)
Honda (Acura, Honda) $28,085 $27,368 $28,299 2.6% -0.8%
Hyundai $24,397 $23,199 $24,740 5.2% -1.4%
Kia $23,375 $23,086 $23,485 1.2% -0.5%
Nissan (Nissan, Infiniti) $26,862 $26,436 $26,953 1.6% -0.3%
Subaru $28,304 $26,411 $28,121 7.2% 0.7%
Toyota (Lexus, Scion, $30,416 $29,949 $30,460 1.6% -0.1%
Toyota)
Volkswagen (Audi, Porsche, $36,929 $39,307 $40,554 -6.0% -8.9%
Volkswagen)
Industry $32,245 $31,352 $32,572 2.8% -1.0%

TrueCar estimates the average incentive for light vehicles in February
decreased $79, or 2.9 percent, from a year ago, while increasing $36, or 1.4
percent, from January 2015.

Incentive per Unit Spending

Feb. 2015 Percent Percent
Manufacturer Forecast Feb. 2014 Jan. 2015 Change vs. Change vs.
Feb. 2014 Jan. 2015
FCA (Chrysler, Dodge, $3,145 $3,248 $3,090 -3.2% 1.8%
Jeep, Ram, Fiat)
Ford (Ford, Lincoln) $2,888 $3,184 $2,808 -9.3% 2.8%
GM (Buick, Cadillac, $3,247 $3,514 $3,129 -7.6% 3.8%
Chevrolet, GMC)
Honda (Acura, Honda) $1,871 $1,923 $1,776 -2.7% 5.4%
Hyundai $1,844 $1,683 $1,791 9.6% 3.0%
Kia $3,000 $2,222 $2,910 35.0% 3.1%
Nissan (Nissan, Infiniti) $2,554 $2,787 $2,943 -8.4% -13.2%
Subaru $808 $864 $779 -6.5% 3.7%
Toyota (Lexus, Scion, $1,811 $1,802 $1,811 0.5% 0.0%
Toyota)
Volkswagen (Audi, Porsche, $2,394 $2,514 $2,302 -4.8% 4.0%
Volkswagen)
Industry $2,623 $2,702 $2,587 -2.9% 1.4%

Last month's ratio of incentive to ATP for light vehicles was 8.1 percent,
down 5.6 percent from February 2014 and up 2.4 percent from January 2015,
based on TrueCar analysis. GM, Subaru and Ford showed the most improvement in
ATP ratio in February versus the year-earlier month.

Incentive Spending as a Percentage of ATP

Percent Percent
Manufacturer Feb. 2015 Feb. 2014 Jan. Change vs. Change vs.
Forecast 2015 Jan. 2015
Feb. 2014
FCA (Chrysler, Dodge, Jeep, 10.0% 10.7% 9.7% -6.7% 3.2%
Ram, Fiat)
Ford (Ford, Lincoln) 8.4% 9.5% 8.1% -11.7% 3.3%
GM (Buick, Cadillac, 9.2% 10.6% 8.9% -12.9% 3.7%
Chevrolet, GMC)
Honda (Acura, Honda) 6.7% 7.0% 6.3% -5.2% 6.2%
Hyundai 7.6% 7.3% 7.2% 4.2% 4.4%
Kia 12.8% 9.6% 12.4% 33.3% 3.6%
Nissan (Nissan, Infiniti) 9.5% 10.5% 10.9% -9.8% -12.9%
Subaru 2.9% 3.3% 2.8% -12.8% 3.0%
Toyota (Lexus, Scion, Toyota) 6.0% 6.0% 5.9% -1.0% 0.1%
Volkswagen (Audi, Porsche, 6.5% 6.4% 5.7% 1.4% 14.2%
Volkswagen)
Industry 8.1% 8.6% 7.9% -5.6% 2.4%

Total Net Revenue

Manufacturer Feb. 2015 Forecast Feb. 2014 Percent Change
vs. Feb. 2014
FCA (Chrysler, Dodge, Jeep, $5,319,220,448 $4,733,994,012 12.4%
Ram, Fiat)
Ford (Ford, Lincoln) $6,677,249,946 $6,159,976,353 8.4%
GM (Buick, Cadillac, $8,283,245,126 $7,390,732,704 12.1%
Chevrolet, GMC)
Honda (Acura, Honda) $3,210,145,948 $2,747,884,040 16.8%
Hyundai $1,232,038,118 $1,136,820,597 8.4%
Kia $1,070,553,231 $951,558,748 12.5%
Nissan (Nissan, Infiniti) $3,258,409,484 $3,049,656,960 6.8%
Subaru $1,132,154,045 $921,981,599 22.8%
Toyota (Lexus, Scion, $5,696,954,488 $4,770,396,516 19.4%
Toyota)
Volkswagen (Audi, Porsche, $1,672,889,911 $1,629,078,615 2.7%
Volkswagen)
Industry $41,776,710,112 $37,419,530,096 11.6%

The average transaction price (ATP) for light vehicles was $32,245, up 2.8
percent over a year ago, while average incentive spending per unit decreased
by $79 to $2,623. The ratio of incentive spending to ATP was 8.1 percent,
contracting from 8.6 percent versus the prior year.

Posted-In: News Retail Sales Press Releases

 

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