SANTA MONICA, Calif.,
Jan. 3, 2018 /PRNewswire/
-- TrueCar, Inc.'s (NASDAQ: TRUE) data and analytics
subsidiary, ALG, projects U.S. revenue for new vehicle sales will
reach $56 billion for the month of
December, up 1.0 percent from a year ago.
ALG expects a gain of $560 million
in revenue for automakers versus 2017. Additionally, incentive
spending is projected to decline 5.6 percent year over year.
"The auto industry closed out 2018 on a high note with continued
growth in average transaction prices and lower incentive spending
in December," said Eric Lyman, chief
industry analyst for TrueCar's ALG. "The performance overall for
2018 exceeded expectations with regards to pace of sales and retail
indicators of ATPs and incentive spending. We also expect
continued sales momentum as we are forecasting 17 million new
vehicles and light trucks in 2019."
ALG estimates ATP for a new light vehicle was $35,145 in December, up 1.3 percent from a year
ago. Average incentive spending per unit declined by $223 to $3,746. The
ratio of incentive spending to ATP is expected to be 10.7 percent,
down from 11.4 percent from a year ago.
"Hyundai and GM in particular showed significant improvement in
incentive spending as a percentage of ATP, a sign of retail success
with their overhauled light truck vehicles in their showrooms,"
Lyman continued.
Average Transaction Price (ATP)
Manufacturer
|
December
2018
Forecast
|
December
2017
|
November
2018
|
YOY
|
MOM
|
BMW (BMW,
Mini)
|
$54,046
|
$51,871
|
$53,350
|
4.2%
|
1.3%
|
Daimler
(Mercedes-Benz, Smart)
|
$62,519
|
$60,269
|
$63,055
|
3.7%
|
-0.8%
|
FCA (Chrysler, Dodge,
Jeep, Ram, Fiat)
|
$36,133
|
$34,602
|
$35,665
|
4.4%
|
1.3%
|
Ford (Ford,
Lincoln)
|
$40,172
|
$38,158
|
$38,748
|
5.3%
|
3.7%
|
GM (Buick, Cadillac,
Chevrolet, GMC)
|
$37,720
|
$38,367
|
$38,379
|
-1.7%
|
-1.7%
|
Honda (Acura,
Honda)
|
$28,713
|
$28,789
|
$28,889
|
-0.3%
|
-0.6%
|
Hyundai
|
$22,792
|
$22,412
|
$22,560
|
1.7%
|
1.0%
|
Kia
|
$22,827
|
$22,840
|
$22,750
|
-0.1%
|
0.3%
|
Nissan (Nissan,
Infiniti)
|
$28,759
|
$28,323
|
$28,527
|
1.5%
|
0.8%
|
Subaru
|
$29,463
|
$27,906
|
$29,207
|
5.6%
|
0.9%
|
Toyota (Lexus, Scion,
Toyota)
|
$33,019
|
$32,851
|
$32,725
|
0.5%
|
0.9%
|
Volkswagen (Audi,
Porsche, Volkswagen)
|
$37,775
|
$38,403
|
$37,188
|
-1.6%
|
1.6%
|
Industry
|
$35,145
|
$34,685
|
$34,877
|
1.3%
|
0.8%
|
Incentive per Unit Spending
Manufacturer
|
December
2018
Forecast
|
December
2017
|
November
2018
|
YOY
|
MOM
|
BMW (BMW,
Mini)
|
$5,348
|
$5,349
|
$5,463
|
0.0%
|
-2.1%
|
Daimler
(Mercedes-Benz, Smart)
|
$6,231
|
$5,174
|
$6,542
|
20.4%
|
-4.8%
|
FCA (Chrysler, Dodge,
Jeep, Ram, Fiat)
|
$4,386
|
$4,336
|
$4,373
|
1.1%
|
0.3%
|
Ford (Ford,
Lincoln)
|
$4,405
|
$4,431
|
$4,358
|
-0.6%
|
1.1%
|
GM (Buick, Cadillac,
Chevrolet, GMC)
|
$4,652
|
$5,548
|
$4,586
|
-16.2%
|
1.4%
|
Honda (Acura,
Honda)
|
$2,103
|
$2,087
|
$2,041
|
0.8%
|
3.1%
|
Hyundai
|
$2,548
|
$3,097
|
$2,532
|
-17.7%
|
0.7%
|
Kia
|
$3,329
|
$3,447
|
$3,359
|
-3.4%
|
-0.9%
|
Nissan (Nissan,
Infiniti)
|
$4,573
|
$4,572
|
$4,574
|
0.0%
|
0.0%
|
Subaru
|
$1,102
|
$1,257
|
$1,146
|
-12.3%
|
-3.8%
|
Toyota (Lexus, Scion,
Toyota)
|
$2,558
|
$2,778
|
$2,572
|
-7.9%
|
-0.6%
|
Volkswagen (Audi,
Porsche, Volkswagen)
|
$4,121
|
$3,774
|
$4,074
|
9.2%
|
1.1%
|
Industry
|
$3,746
|
$3,968
|
$3,741
|
-5.6%
|
0.1%
|
Incentive Spending as a Percentage of ATP
Manufacturer
|
December
2018
Forecast
|
December
2017
|
November
2018
|
YOY
|
MOM
|
BMW (BMW,
Mini)
|
9.9%
|
10.3%
|
10.2%
|
-4.1%
|
-3.4%
|
Daimler
(Mercedes-Benz, Smart)
|
10.0%
|
8.6%
|
10.4%
|
16.1%
|
-3.9%
|
FCA (Chrysler, Dodge,
Jeep, Ram, Fiat)
|
12.1%
|
12.5%
|
12.3%
|
-3.1%
|
-1.0%
|
Ford (Ford,
Lincoln)
|
11.0%
|
11.6%
|
11.2%
|
-5.6%
|
-2.5%
|
GM (Buick, Cadillac,
Chevrolet, GMC)
|
12.3%
|
14.5%
|
11.9%
|
-14.7%
|
3.2%
|
Honda (Acura,
Honda)
|
7.3%
|
7.2%
|
7.1%
|
1.0%
|
3.7%
|
Hyundai
|
11.2%
|
13.8%
|
11.2%
|
-19.1%
|
-0.4%
|
Kia
|
14.6%
|
15.1%
|
14.8%
|
-3.4%
|
-1.2%
|
Nissan (Nissan,
Infiniti)
|
15.9%
|
16.1%
|
16.0%
|
-1.5%
|
-0.8%
|
Subaru
|
3.7%
|
4.5%
|
3.9%
|
-16.9%
|
-4.6%
|
Toyota (Lexus, Scion,
Toyota)
|
7.7%
|
8.5%
|
7.9%
|
-8.4%
|
-1.4%
|
Volkswagen (Audi,
Porsche, Volkswagen)
|
10.9%
|
9.8%
|
11.0%
|
11.0%
|
-0.4%
|
Industry
|
10.7%
|
11.4%
|
10.7%
|
-6.8%
|
-0.6%
|
(Note: This forecast is based solely on ALG's
analysis of industry sales trends and conditions and is not a
projection of the company's operations.)
About TrueCar
TrueCar, Inc. (NASDAQ:TRUE) is a digital
automotive marketplace that provides comprehensive pricing
transparency about what other people paid for their cars and
enables consumers to engage with TrueCar Certified Dealers who are
committed to providing a superior purchase
experience. TrueCar operates its own branded site and its
nationwide network of more than 16,000 Certified Dealers also
powers car-buying programs for some of the largest U.S. membership
and service organizations, including USAA, AARP, American
Express, AAA and Sam's Club. Over one half of all new car
buyers engage with the TrueCar network during their
purchasing process. TrueCar is headquartered
in Santa Monica, California,
with offices in San Francisco and Austin, Texas. For more information, please
visit www.truecar.com, and follow us on Facebook,
Instagram, Twitter and get updates on our blog.
TrueCar media line: +1-844-469-8442 (US toll-free) | Email:
pressinquiries@truecar.com
About ALG
Founded in 1964 and headquartered in
Santa Monica, California, ALG is
an industry authority on automotive residual value projections in
both the United States and
Canada. By analyzing nearly 2,500
vehicle trims each year to assess residual value, ALG provides auto
industry and financial services clients with market industry
insights, residual value forecasts, consulting and vehicle
portfolio management and risk services. ALG is a wholly-owned
subsidiary of TrueCar, Inc., a digital automotive marketplace that
provides comprehensive pricing transparency about what other people
paid for their cars. ALG has been publishing residual values for
all cars, trucks and SUVs in the U.S. for over 50 years and in
Canada since 1981.
Contact
pressinquiries@truecar.com
Veronica Cardenas
424-258-8427
VCardenas@truecar.com
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SOURCE TrueCar, Inc.; ALG