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Classified in: Transportation
Subject: SLS

TrueCar Releases Analysis of December Industry Sales


Heading into 2023, more indications that OEMs and Dealers will look to stimulate demand

SANTA MONICA, Calif., Dec. 29, 2022 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, expects total new vehicle industry sales to reach 1,275,694 units in December 2022, up 4.5% from a year ago and up about 4% from November 2022, when adjusted for the same number of selling days. This month's seasonally adjusted annualized rate (SAAR) for total light vehicle industry sales is an estimated 13.3 million, up 3% from December 2021. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,096,411 units, about even from a year ago and up about 3% from November 2022.

"Sales are on pace to finish higher than a year ago for the fifth consecutive month with inventory improving steadily," said Zack Krelle, Industry Analyst at TrueCar. "As we head into the new year, the industry shows signs of reverting to old customs. Mark-ups (% of sales over MSRP) are being reduced, incentives are inching up and a larger proportion of sales are allocated to rental fleets?all normal indicators after what has been an abnormal few years."

"As inventory continues to build, many OEMs are starting to feel pressure to incentivize, especially with winter storms and rising interest rates keeping more folks on the sidelines," said Justin Colon, Vice President of OEM Solutions at TrueCar.

Additional December Industry Insights (from TrueCar):

Total Unit Sales



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YoY % Change

YoY % Change
(Daily Selling Rate)

MoM % Change

MoM % Change
(Daily Selling Rate)

BMW

41,415

42,528

36,272

-2.6 %

-2.6 %

14.2 %

5.7 %

Daimler

30,124

31,932

26,777

-5.7 %

-5.7 %

12.5 %

4.2 %

Ford

170,471

172,257

144,984

-1.0 %

-1.0 %

17.6 %

8.9 %

GM

219,264

163,990

196,113

33.7 %

33.7 %

11.8 %

3.5 %

Honda

95,349

105,068

79,862

-9.2 %

-9.2 %

19.4 %

10.5 %

Hyundai

74,741

56,339

68,310

32.7 %

32.7 %

9.4 %

1.3 %

Kia

63,734

48,506

56,703

31.4 %

31.4 %

12.4 %

4.1 %

Nissan

68,196

77,949

60,106

-12.5 %

-12.5 %

13.5 %

5.1 %

Stellantis

118,146

155,138

108,896

-23.8 %

-23.8 %

8.5 %

0.5 %

Subaru

58,661

51,146

50,138

14.7 %

14.7 %

17.0 %

8.3 %

Tesla

49,536

47,253

43,453

4.8 %

4.8 %

14.0 %

5.6 %

Toyota

178,183

173,847

169,698

2.5 %

2.5 %

5.0 %

-2.8 %

Volkswagen Group

47,919

48,011

44,170

-0.2 %

-0.2 %

8.5 %

0.5 %

Industry

1,275,694

1,220,427

1,138,281

4.5 %

4.5 %

12.1 %

3.8 %

 

Retail Unit Sales



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YoY % Change

YoY % Change
(Daily Selling Rate)

MoM % Change

MoM % Change
(Daily Selling Rate)

BMW

39,565

40,146

33,277

-1.4 %

-1.4 %

18.9 %

10.1 %

Daimler

27,977

29,131

24,898

-4.0 %

-4.0 %

12.4 %

4.0 %

Ford

123,092

133,520

108,229

-7.8 %

-7.8 %

13.7 %

5.3 %

GM

172,357

147,514

161,656

16.8 %

16.8 %

6.6 %

-1.3 %

Honda

93,744

104,528

77,609

-10.3 %

-10.3 %

20.8 %

11.8 %

Hyundai

73,688

55,609

67,517

32.5 %

32.5 %

9.1 %

1.1 %

Kia

61,880

45,531

54,797

35.9 %

35.9 %

12.9 %

4.6 %

Nissan

59,900

69,315

49,055

-13.6 %

-13.6 %

22.1 %

13.1 %

Stellantis

80,191

124,423

84,468

-35.5 %

-35.5 %

-5.1 %

-12.1 %

Subaru

57,660

50,114

48,828

15.1 %

15.1 %

18.1 %

9.3 %

Tesla

41,695

46,802

36,402

-10.9 %

-10.9 %

14.5 %

6.1 %

Toyota

168,019

162,816

151,795

3.2 %

3.2 %

10.7 %

2.5 %

Volkswagen Group

43,384

47,217

40,370

-8.1 %

-8.1 %

7.5 %

-0.5 %

Industry

1,096,411

1,100,321

985,025

-0.4 %

-0.4 %

11.3 %

3.1 %

 

Fleet Unit Sales



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YoY % Change

YoY % Change
(Daily Selling Rate)

MoM % Change

MoM % Change
(Daily Selling Rate)

BMW

1,850

2,382

2,995

-22.3 %

-22.3 %

-38.2 %

-42.8 %

Daimler

2,147

2,801

1,879

-23.4 %

-23.4 %

14.2 %

5.8 %

Ford

47,379

38,737

36,755

22.3 %

22.3 %

28.9 %

19.4 %

GM

46,907

16,476

34,457

184.7 %

184.7 %

36.1 %

26.0 %

Honda

1,605

540

2,253

197.4 %

197.4 %

-28.8 %

-34.0 %

Hyundai

1,053

730

793

44.2 %

44.2 %

32.8 %

23.0 %

Kia

1,854

2,975

1,906

-37.7 %

-37.7 %

-2.7 %

-9.9 %

Nissan

8,296

8,634

11,051

-3.9 %

-3.9 %

-24.9 %

-30.5 %

Stellantis

37,955

30,715

24,428

23.6 %

23.6 %

55.4 %

43.9 %

Subaru

1,001

1,032

1,310

-3.0 %

-3.0 %

-23.6 %

-29.3 %

Tesla

7,841

451

7,051

1640.0 %

1640.0 %

11.2 %

3.0 %

Toyota

10,164

11,031

17,903

-7.9 %

-7.9 %

-43.2 %

-47.4 %

Volkswagen Group

4,535

794

3,800

471.1 %

471.1 %

19.4 %

10.5 %

Industry

175,317

119,908

149,714

46.2 %

46.2 %

17.1 %

8.4 %

 

Fleet Penetration

Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YoY % Change

MoM % Change

BMW

4.5 %

5.6 %

8.3 %

-20.2 %

-45.9 %

Daimler

7.1 %

8.8 %

7.0 %

-18.8 %

1.5 %

Ford

27.8 %

22.5 %

25.4 %

23.6 %

9.6 %

GM

21.4 %

10.0 %

17.6 %

112.9 %

21.8 %

Honda

1.7 %

0.5 %

2.8 %

227.7 %

-40.3 %

Hyundai

1.4 %

1.3 %

1.2 %

8.7 %

21.4 %

Kia

2.9 %

6.1 %

3.4 %

-52.6 %

-13.5 %

Nissan

12.2 %

11.1 %

18.4 %

9.8 %

-33.8 %

Stellantis

32.1 %

19.8 %

22.4 %

62.3 %

43.2 %

Subaru

1.7 %

2.0 %

2.6 %

-15.4 %

-34.7 %

Tesla

15.8 %

1.0 %

16.2 %

1559.8 %

-2.4 %

Toyota

5.7 %

6.3 %

10.5 %

-10.1 %

-45.9 %

Volkswagen Group

9.5 %

1.7 %

8.6 %

472.2 %

10.0 %

Industry

13.7 %

9.8 %

13.2 %

39.9 %

4.5 %

 

Total Market Share

Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

BMW

3.2 %

3.5 %

3.2 %

Daimler

2.4 %

2.6 %

2.4 %

Ford

13.4 %

14.1 %

12.7 %

GM

17.2 %

13.4 %

17.2 %

Honda

7.5 %

8.6 %

7.0 %

Hyundai

5.9 %

4.6 %

6.0 %

Kia

5.0 %

4.0 %

5.0 %

Nissan

5.3 %

6.4 %

5.3 %

Stellantis

9.3 %

12.7 %

9.6 %

Subaru

4.6 %

4.2 %

4.4 %

Tesla

3.9 %

3.9 %

3.8 %

Toyota

14.0 %

14.2 %

14.9 %

Volkswagen Group

3.8 %

3.9 %

3.9 %


95.3 %

96.2 %

95.4 %

 

Retail Market Share

Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

BMW

3.6 %

3.6 %

3.4 %

Daimler

2.6 %

2.6 %

2.5 %

Ford

11.2 %

12.1 %

11.0 %

GM

15.7 %

13.4 %

16.4 %

Honda

8.6 %

9.5 %

7.9 %

Hyundai

6.7 %

5.1 %

6.9 %

Kia

5.6 %

4.1 %

5.6 %

Nissan

5.5 %

6.3 %

5.0 %

Stellantis

7.3 %

11.3 %

8.6 %

Subaru

5.3 %

4.6 %

5.0 %

Tesla

3.8 %

4.3 %

3.7 %

Toyota

15.3 %

14.8 %

15.4 %

Volkswagen Group

4.0 %

4.3 %

4.1 %


95.1 %

96.0 %

95.3 %

 

ATP



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YOY

MOM

BMW

$69,149

$63,478

$68,385

8.9 %

1.1 %

Daimler

$73,758

$73,011

$73,640

1.0 %

0.2 %

Ford

$55,652

$50,279

$54,025

10.7 %

3.0 %

GM

$52,568

$53,906

$52,602

-2.5 %

-0.1 %

Honda

$37,299

$35,275

$37,127

5.7 %

0.5 %

Hyundai

$36,967

$36,144

$36,420

2.3 %

1.5 %

Kia

$35,309

$32,930

$34,158

7.2 %

3.4 %

Nissan

$37,140

$34,790

$37,125

6.8 %

0.0 %

Stellantis

$55,362

$52,025

$54,813

6.4 %

1.0 %

Subaru

$35,786

$34,806

$35,487

2.8 %

0.8 %

Toyota

$40,281

$39,930

$40,899

0.9 %

-1.5 %

Volkswagen Group

$50,357

$48,375

$48,910

4.1 %

3.0 %

Industry

$45,628

$44,683

$45,227

2.1 %

0.9 %


$945


$400



 

Incentives



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YOY

MOM

BMW

$1,766

$2,797

$1,358

-36.9 %

30.0 %

Daimler

$1,379

$2,427

$1,467

-43.2 %

-6.0 %

Ford

$1,227

$2,443

$1,091

-49.8 %

12.5 %

GM

$1,484

$1,807

$1,384

-17.9 %

7.2 %

Honda

$1,000

$1,586

$983

-37.0 %

1.7 %

Hyundai

$1,076

$1,199

$980

-10.2 %

9.8 %

Kia

$489

$1,652

$470

-70.4 %

4.0 %

Nissan

$1,074

$2,000

$1,501

-46.3 %

-28.4 %

Stellantis

$1,689

$2,452

$1,594

-31.1 %

6.0 %

Subaru

$567

$1,058

$531

-46.4 %

6.7 %

Toyota

$573

$1,288

$611

-55.5 %

-6.4 %

Volkswagen Group

$1,704

$2,097

$1,488

-18.7 %

14.5 %

Industry

$1,121

$1,906

$1,072

-41.2 %

4.5 %


-$785


$48



 

Incentives as % of ATP



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YOY

MOM

BMW

2.6 %

4.4 %

2.0 %

-42.0 %

28.6 %

Daimler

1.9 %

3.3 %

2.0 %

-43.8 %

-6.2 %

Ford

2.2 %

4.9 %

2.0 %

-54.6 %

9.2 %

GM

2.8 %

3.4 %

2.6 %

-15.8 %

7.3 %

Honda

2.7 %

4.5 %

2.6 %

-40.4 %

1.3 %

Hyundai

2.9 %

3.3 %

2.7 %

-12.2 %

8.2 %

Kia

1.4 %

5.0 %

1.4 %

-72.4 %

0.6 %

Nissan

2.9 %

5.7 %

4.0 %

-49.7 %

-28.5 %

Stellantis

3.1 %

4.7 %

2.9 %

-35.3 %

4.9 %

Subaru

1.6 %

3.0 %

1.5 %

-47.9 %

5.9 %

Toyota

1.4 %

3.2 %

1.5 %

-55.9 %

-4.9 %

Volkswagen Group

3.4 %

4.3 %

3.0 %

-21.9 %

11.2 %

Industry

2.5 %

4.3 %

2.4 %

-42.4 %

3.6 %

 

Revenue



Manufacturer

Dec 2022 Forecast

Dec 2021 Actual

Nov 2022 Actual

YOY

MOM

Industry

$58,206,888,261

$54,531,925,314

$51,481,485,761

6.7 %

13.1 %

(Note: This industry insight is based solely on TrueCar, Inc.'s analysis of domestic industry sales trends and conditions and is not a projection of TrueCar, Inc.'s operations.) 

About TrueCar
TrueCar is a leading automotive digital marketplace that lets auto buyers and sellers connect to our nationwide network of Certified Dealers. With access to an expansive inventory provided by our Certified Dealers, we are building the industry's most personalized and efficient auto shopping experience as we seek to bring more of the process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new, used and Certified Pre-Owned vehicles. When they are ready, shoppers in TrueCar's marketplace can connect with a Certified Dealer in our network, who shares our belief that truth, transparency and fairness are the foundation of a great auto shopping experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express.

For more information, please visit www.truecar.com, and follow us on LinkedIn, Facebook or Twitter. TrueCar media email: [email protected] 

 

SOURCE TrueCar.com


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