Santa Monica, Calif. — TrueCar.com reported 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
