June 2013 New Car Sales Expected to Be Up Nearly Eight Percent
TrueCar.com, recognized for its information on new car pricing information, trends and forecasting, anticipates that for June 2013, new light vehicle sales in the U.S. (including fleet) is expected to be 1,380,543 units, up 7.8 percent from June 2012 and down 3.9 percent from May 2013 (on an unadjusted basis).
The June 2013 forecast translates into a Seasonally Adjusted Annualized Rate (“SAAR”) of 15.7 million new car sales, up from 15.3 million in May 2013 and up from 14.4 million in June 2012. Retail sales are up almost seven percent compared to June 2012 and down four percent from May 2013.
Fleet and rental sales are expected to make up 18.7 percent of total industry sales in June 2013.
The industry average incentive spending per unit will be approximately $2,537 in June 2013, which represents a decrease of 0.6 percent from June 2012 and is down 4.4 percent from May 2013.
Used car sales* are estimated to be 3,225,454. The ratio of new to used is estimated to be 1:3 for June 2013.
“Despite the lackluster performance in financial markets in June, new vehicle sales reached their highest levels in six years – yet more proof that the recent surge in consumer demand is real and not going anywhere,” said Jesse Toprak, senior analyst for TrueCar.com. “The better news for the automakers is that they are back to selling nearly 16 million units a year collectively while spending less on incentives, thanks to the best selection of vehicles ever in their showrooms; product is the king once again.”
“Incentive spending will reach its lowest level in the month of June since 2002, with the exception of 2011 when inventories were affected by the natural disaster in Japan,” said Kristen Andersson, analyst for TrueCar.com. “Overall sales are strong in June and as a result automakers are able to curb incentive spending.”
TrueCar.com bases its forecast on actual transaction data. The transaction data based forecast is refined by other current and historical factors that impact vehicle sales, including sales, inventory, incentives, fuel prices, and macro economic data (major stock market indexes, consumer confidence, new home starts and CPI). TrueCar.com does not adjust for selling days in year-over-year percentage change calculations.
*Used car sales figures include sales from franchise dealerships, independent dealerships and private party sales.
About TrueCar, Inc.
TrueCar, Inc., headquartered in Santa Monica, Calif.,is an automotive pricing information and analysis company and an online publisher of new and used car transaction data. The company prides itself for determining what others recently paid for similarly-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information in the auto industry and has been forecasting residual values for nearly 50 years in the U.S. and Canadian markets.
Category: Featured, General Update
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