SANTA MONICA, Calif.,
Aug. 26, 2021 /PRNewswire/
-- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and
transparent online destination to find a car, forecasts total
new vehicle sales will reach 1,212,399 units in August
2021, down 4% from a year ago but up 1% vs. July 2021, when adjusted for the same number of
selling days. This month's seasonally adjusted annualized rate
(SAAR) for total light vehicle sales is an estimated 14.4 million,
down 4% from August 2020. Excluding
fleet sales, TrueCar expects U.S. retail deliveries of
new cars and light trucks to be 1,077,701 units, down 7% from
a year ago and about even with July
2021.
![TrueCar, Inc. Logo TrueCar, Inc. Logo](https://mma.prnewswire.com/media/75148/truecar_logo.jpg)
"The chip shortage continues to be the driving force behind
vehicle availability, creating the lowest average incentive
spending since 20131," said Nick
Woolard, Lead Industry Analyst at TrueCar. "Continued strong
demand is creating an environment where vehicles are selling
extremely quickly. About a third of vehicles are selling within a
week of arriving on the dealer lot, compared to just 18% last
year," added Woolard.
"Though new vehicle sales continue to
decline in August, some brands saw a year-over-year increase in
sales. Toyota is operating extremely well considering their
inventory days' supply is roughly half the industry average. We
will continue to see how they perform once their announced plant
closures put additional pressure on production and inventory," said
Valeri Tompkins, Senior Vice
President of OEM Solutions at TrueCar.
Additional Insights (forecast by TrueCar):
- Total sales for August 2021 are
expected to be down 4% from a year ago and up 1% from July 2021 when adjusted for the same number of
selling days.
- Fleet sales for August 2021 are
expected to be up 30% from a year ago and up 9% from July 2021
when adjusted for the same number of selling days.
- Incentive spend is down 39% from last year.
- Average transaction price is projected to be up 6% from a year
ago and up .5% from July 2021.
- Total SAAR is expected to be down 4% from a year ago at 14.4
million units.
- Used vehicle sales for August
2021 are expected to reach 3.7 million, up 6% from a year
ago and about even with July 2021.
- The average interest rate on new vehicles is 4.6% and the
average interest rate on used vehicles is 7.4%.
- The average loan term on a new vehicle for August 2021 is 70 months and likewise the average
loan term on a used vehicle is also 70 months.
Total Unit
Sales
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
29,416
|
25,235
|
28,845
|
16.6%
|
21.2%
|
2.0%
|
10.1%
|
Daimler
|
22,840
|
23,966
|
24,977
|
-4.7%
|
-0.9%
|
-8.6%
|
-1.2%
|
Ford
|
122,166
|
184,781
|
118,917
|
-33.9%
|
-31.2%
|
2.7%
|
11.0%
|
GM
|
183,530
|
218,845
|
197,697
|
-16.1%
|
-12.8%
|
-7.2%
|
0.3%
|
Honda
|
133,666
|
135,925
|
135,542
|
-1.7%
|
2.3%
|
-1.4%
|
6.5%
|
Hyundai
|
69,550
|
59,721
|
73,680
|
16.5%
|
21.1%
|
-5.6%
|
1.9%
|
Kia
|
64,172
|
57,015
|
70,099
|
12.6%
|
17.1%
|
-8.5%
|
-1.1%
|
Nissan
|
64,205
|
73,833
|
80,456
|
-13.0%
|
-9.6%
|
-20.2%
|
-13.8%
|
Stellantis
|
142,791
|
171,519
|
142,065
|
-16.7%
|
-13.4%
|
0.5%
|
8.6%
|
Subaru
|
43,065
|
57,885
|
50,125
|
-25.6%
|
-22.6%
|
-14.1%
|
-7.2%
|
Tesla
|
26,425
|
19,000
|
26,200
|
39.1%
|
44.6%
|
0.9%
|
8.9%
|
Toyota
|
200,202
|
190,532
|
225,917
|
5.1%
|
9.3%
|
-11.4%
|
-4.3%
|
Volkswagen
Group
|
53,295
|
50,275
|
55,754
|
6.0%
|
10.2%
|
-4.4%
|
3.2%
|
Industry
|
1,212,399
|
1,319,682
|
1,291,775
|
-8.1%
|
-4.5%
|
-6.1%
|
1.4%
|
Retail Unit
Sales
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
28,851
|
24,827
|
28,359
|
16.2%
|
20.9%
|
1.7%
|
9.9%
|
Daimler
|
21,794
|
23,120
|
24,466
|
-5.7%
|
-2.0%
|
-10.9%
|
-3.8%
|
Ford
|
90,121
|
147,570
|
96,446
|
-38.9%
|
-36.5%
|
-6.6%
|
0.9%
|
GM
|
155,217
|
196,696
|
172,037
|
-21.1%
|
-17.9%
|
-9.8%
|
-2.6%
|
Honda
|
132,042
|
135,147
|
134,974
|
-2.3%
|
1.6%
|
-2.2%
|
5.7%
|
Hyundai
|
61,961
|
57,839
|
66,053
|
7.1%
|
11.4%
|
-6.2%
|
1.3%
|
Kia
|
58,942
|
53,802
|
67,491
|
9.6%
|
13.9%
|
-12.7%
|
-5.7%
|
Nissan
|
58,190
|
68,339
|
66,456
|
-14.9%
|
-11.4%
|
-12.4%
|
-5.4%
|
Stellantis
|
118,682
|
147,408
|
119,919
|
-19.5%
|
-16.3%
|
-1.0%
|
6.9%
|
Subaru
|
42,220
|
56,999
|
48,256
|
-25.9%
|
-23.0%
|
-12.5%
|
-5.5%
|
Tesla
|
26,260
|
19,000
|
26,191
|
38.2%
|
43.7%
|
0.3%
|
8.3%
|
Toyota
|
180,822
|
184,624
|
199,937
|
-2.1%
|
1.9%
|
-9.6%
|
-2.3%
|
Volkswagen
Group
|
52,507
|
49,823
|
54,953
|
5.4%
|
9.6%
|
-4.5%
|
3.2%
|
Industry
|
1,077,701
|
1,211,579
|
1,158,127
|
-11.0%
|
-7.5%
|
-6.9%
|
0.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fleet Unit Sales
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
565
|
408
|
486
|
38.5%
|
44.0%
|
16.1%
|
25.4%
|
Daimler
|
1,046
|
846
|
511
|
23.7%
|
28.6%
|
104.7%
|
121.1%
|
Ford
|
32,045
|
37,211
|
22,471
|
-13.9%
|
-10.4%
|
42.6%
|
54.0%
|
GM
|
28,313
|
22,149
|
25,660
|
27.8%
|
32.9%
|
10.3%
|
19.2%
|
Honda
|
1,625
|
778
|
568
|
108.9%
|
117.2%
|
186.1%
|
209.0%
|
Hyundai
|
7,589
|
1,882
|
7,627
|
303.3%
|
319.4%
|
-0.5%
|
7.5%
|
Kia
|
5,230
|
3,213
|
2,608
|
62.8%
|
69.3%
|
100.5%
|
116.6%
|
Nissan
|
6,015
|
5,494
|
14,000
|
9.5%
|
13.9%
|
-57.0%
|
-53.6%
|
Stellantis
|
24,109
|
24,111
|
22,146
|
0.0%
|
4.0%
|
8.9%
|
17.6%
|
Subaru
|
845
|
886
|
1,869
|
-4.6%
|
-0.8%
|
-54.8%
|
-51.2%
|
Tesla
|
165
|
-
|
9
|
|
|
1747.2%
|
1895.0%
|
Toyota
|
19,380
|
5,908
|
25,980
|
228.0%
|
241.2%
|
-25.4%
|
-19.4%
|
Volkswagen
Group
|
789
|
452
|
801
|
74.4%
|
81.4%
|
-1.5%
|
6.4%
|
Industry
|
134,698
|
108,103
|
133,648
|
24.6%
|
29.6%
|
0.8%
|
8.8%
|
Fleet
Penetration
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YoY %
Change
|
MoM %
Change
|
BMW
|
1.9%
|
1.6%
|
1.7%
|
18.8%
|
13.9%
|
Daimler
|
4.6%
|
3.5%
|
2.0%
|
29.8%
|
123.9%
|
Ford
|
26.2%
|
20.1%
|
18.9%
|
30.3%
|
38.8%
|
GM
|
15.4%
|
10.1%
|
13.0%
|
52.4%
|
18.9%
|
Honda
|
1.2%
|
0.6%
|
0.4%
|
112.4%
|
190.1%
|
Hyundai
|
10.9%
|
3.2%
|
10.4%
|
246.3%
|
5.4%
|
Kia
|
8.1%
|
5.6%
|
3.7%
|
44.6%
|
119.1%
|
Nissan
|
9.4%
|
7.4%
|
17.4%
|
25.9%
|
-46.2%
|
Stellantis
|
16.9%
|
14.1%
|
15.6%
|
20.1%
|
8.3%
|
Subaru
|
2.0%
|
1.5%
|
3.7%
|
28.3%
|
-47.4%
|
Tesla
|
0.6%
|
0.0%
|
0.0%
|
|
1731.4%
|
Toyota
|
9.7%
|
3.1%
|
11.5%
|
212.2%
|
-15.8%
|
Volkswagen
Group
|
1.5%
|
0.9%
|
1.4%
|
64.6%
|
3.0%
|
Industry
|
11.1%
|
8.2%
|
10.3%
|
35.6%
|
7.4%
|
Total Market
Share
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
BMW
|
2.4%
|
1.9%
|
2.2%
|
Daimler
|
1.9%
|
1.8%
|
1.9%
|
Ford
|
10.1%
|
14.0%
|
9.2%
|
GM
|
15.1%
|
16.6%
|
15.3%
|
Honda
|
11.0%
|
10.3%
|
10.5%
|
Hyundai
|
5.7%
|
4.5%
|
5.7%
|
Kia
|
5.3%
|
4.3%
|
5.4%
|
Nissan
|
5.3%
|
5.6%
|
6.2%
|
Stellantis
|
11.8%
|
13.0%
|
11.0%
|
Subaru
|
3.6%
|
4.4%
|
3.9%
|
Tesla
|
2.2%
|
1.4%
|
2.0%
|
Toyota
|
16.5%
|
14.4%
|
17.5%
|
Volkswagen
Group
|
4.4%
|
3.8%
|
4.3%
|
|
95.3%
|
96.1%
|
95.2%
|
Retail Market
Share
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
BMW
|
2.7%
|
2.0%
|
2.4%
|
Daimler
|
2.0%
|
1.9%
|
2.1%
|
Ford
|
8.4%
|
12.2%
|
8.3%
|
GM
|
14.4%
|
16.2%
|
14.9%
|
Honda
|
12.3%
|
11.2%
|
11.7%
|
Hyundai
|
5.7%
|
4.8%
|
5.7%
|
Kia
|
5.5%
|
4.4%
|
5.8%
|
Nissan
|
5.4%
|
5.6%
|
5.7%
|
Stellantis
|
11.0%
|
12.2%
|
10.4%
|
Subaru
|
3.9%
|
4.7%
|
4.2%
|
Tesla
|
2.4%
|
1.6%
|
2.3%
|
Toyota
|
16.8%
|
15.2%
|
17.3%
|
Volkswagen
Group
|
4.9%
|
4.1%
|
4.7%
|
|
95.4%
|
96.2%
|
95.5%
|
ATP
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YOY
|
MOM
|
BMW
|
$57,757
|
$57,122
|
$56,408
|
1.1%
|
2.4%
|
Daimler
|
$67,341
|
$59,487
|
$60,768
|
13.2%
|
10.8%
|
Ford
|
$47,641
|
$42,342
|
$46,896
|
12.5%
|
1.6%
|
GM
|
$44,962
|
$41,745
|
$44,846
|
7.7%
|
0.3%
|
Honda
|
$31,557
|
$30,112
|
$31,048
|
4.8%
|
1.6%
|
Hyundai
|
$31,842
|
$29,082
|
$31,114
|
9.5%
|
2.3%
|
Kia
|
$27,674
|
$26,158
|
$27,803
|
5.8%
|
-0.5%
|
Nissan
|
$31,393
|
$28,419
|
$31,574
|
10.5%
|
-0.6%
|
Stellantis
|
$47,719
|
$42,440
|
$47,623
|
12.4%
|
0.2%
|
Subaru
|
$31,312
|
$30,087
|
$30,983
|
4.1%
|
1.1%
|
Toyota
|
$35,035
|
$34,087
|
$35,102
|
2.8%
|
-0.2%
|
Volkswagen
Group
|
$42,197
|
$40,947
|
$42,273
|
3.1%
|
-0.2%
|
Industry
|
$38,520
|
$36,373
|
$38,332
|
5.9%
|
0.5%
|
|
$2,148
|
|
$188
|
|
|
Incentives
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YOY
|
MOM
|
BMW
|
$4,029
|
$5,486
|
$4,427
|
-26.6%
|
-9.0%
|
Daimler
|
$3,929
|
$5,560
|
$3,280
|
-29.3%
|
19.8%
|
Ford
|
$2,234
|
$4,023
|
$2,461
|
-44.5%
|
-9.2%
|
GM
|
$3,384
|
$5,570
|
$3,991
|
-39.2%
|
-15.2%
|
Honda
|
$1,945
|
$2,644
|
$2,112
|
-26.4%
|
-7.9%
|
Hyundai
|
$1,503
|
$2,444
|
$1,895
|
-38.5%
|
-20.7%
|
Kia
|
$2,034
|
$3,711
|
$2,603
|
-45.2%
|
-21.9%
|
Nissan
|
$2,283
|
$4,520
|
$3,005
|
-49.5%
|
-24.0%
|
Stellantis
|
$2,981
|
$4,812
|
$2,720
|
-38.1%
|
9.6%
|
Subaru
|
$1,192
|
$1,855
|
$1,395
|
-35.7%
|
-14.5%
|
Toyota
|
$1,825
|
$2,745
|
$1,957
|
-33.5%
|
-6.8%
|
Volkswagen
Group
|
$2,799
|
$4,478
|
$3,362
|
-37.5%
|
-16.8%
|
Industry
|
$2,432
|
$3,969
|
$2,688
|
-38.7%
|
-9.5%
|
|
-$1,537
|
|
-$256
|
|
|
Incentives as % of
ATP
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YOY
|
MOM
|
BMW
|
7.0%
|
9.6%
|
7.8%
|
-27.4%
|
-11.1%
|
Daimler
|
5.8%
|
9.3%
|
5.4%
|
-37.6%
|
8.1%
|
Ford
|
4.7%
|
9.5%
|
5.2%
|
-50.7%
|
-10.7%
|
GM
|
7.5%
|
13.3%
|
8.9%
|
-43.6%
|
-15.4%
|
Honda
|
6.2%
|
8.8%
|
6.8%
|
-29.8%
|
-9.4%
|
Hyundai
|
4.7%
|
8.4%
|
6.1%
|
-43.8%
|
-22.5%
|
Kia
|
7.4%
|
14.2%
|
9.4%
|
-48.2%
|
-21.5%
|
Nissan
|
7.3%
|
15.9%
|
9.5%
|
-54.3%
|
-23.6%
|
Stellantis
|
6.2%
|
11.3%
|
5.7%
|
-44.9%
|
9.4%
|
Subaru
|
3.8%
|
6.2%
|
4.5%
|
-38.3%
|
-15.4%
|
Toyota
|
5.2%
|
8.1%
|
5.6%
|
-35.3%
|
-6.6%
|
Volkswagen
Group
|
6.6%
|
10.9%
|
8.0%
|
-39.4%
|
-16.6%
|
Industry
|
6.3%
|
10.9%
|
7.0%
|
-42.1%
|
-10.0%
|
Revenue
|
|
|
Manufacturer
|
Aug 2021
Forecast
|
Aug 2020
Actual
|
Jul 2021
Actual
|
YOY
|
MOM
|
Industry
|
$46,702,106,518
|
$48,000,364,966
|
$49,516,875,483
|
-2.7%
|
-5.7%
|
(Note: This forecast is based solely on TrueCar, Inc.'s
analysis of 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
enables auto buyers to connect to our nationwide network of
Certified Dealers. We are building the industry's most personalized
and efficient auto buying experience as we seek to bring more of
the purchasing process online. Consumers who visit our marketplace
will find a suite of vehicle discovery tools, price ratings, and
market context on new and used cars – all with a clear view of
what's a great deal. When they are ready, TrueCar will
enable them to connect with a local Certified Dealer who shares in
our belief that truth, transparency, and fairness are the
foundation of a great auto buying 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. TrueCar is headquartered
in Santa Monica, California,
with an office in Austin, Texas.
For more information, please visit www.truecar.com, and
follow us on Facebook or Twitter.
1 according to Motor Intelligence
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multimedia:https://www.prnewswire.com/news-releases/truecar-forecasts-fourth-consecutive-month-of-slowing-vehicle-sales-for-august-2021-301363233.html
SOURCE TrueCar, Inc.