Industry sales this month up 15% from a year
ago
SANTA
MONICA, Calif., Oct. 28,
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 1,165,658 units in October 2022,
up 15% from a year ago and about on par with September 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 14.6
million, up 13% from October
2021. Excluding fleet sales, TrueCar expects U.S.
retail deliveries of new cars and light trucks to be 995,808 units,
up 9% from a year ago and down about 2% from September 2022.
"The sales pace has improved from a year ago though we expect it
to be on par with the prior month when adjusting for selling days.
With the backdrop of increased interest rates and sustained
elevated pricing, the limiting factor for sales may be shifting
from inventory to affordability," said Zack
Krelle, Industry Analyst at TrueCar. "We are keeping a close
eye on counter-measures to tackle affordability concerns."
"In October we're seeing Honda, Nissan and General Motors
continuing to gain traction in sales, with last month's indication
of positive growth materializing into this month," said
Justin Colon, Vice President of OEM
Solutions at TrueCar. "GM's huge push into electric vehicles is
building momentum while the Malibu
is currently positioned to capture sales as an affordability
outlet."
Additional October Industry Insights (from TrueCar):
- Total sales for October 2022 are
expected to be up 15% from a year ago and about even with
September 2022 when adjusted for the
same number of selling days.
- Fleet sales for October 2022 are
expected to be up 64% from a year ago and up 11% from September 2022 when adjusted for the same number
of selling days.
- Average transaction price for new vehicles is projected to be
up 3% from a year ago and slightly down from September 2022.
- Total SAAR is expected to be up 13% from a year ago at 14.6
million units.
- Used vehicle sales for October
2022 are expected to reach almost 3 million, down 13% from a
year ago and even with September
2022.
- The average interest rate on new vehicles is 6.3% compared to
September 2022 at 6% and the average
interest rate on used vehicles is about 9%.
- The average loan term on a new vehicle for October 2022 is about 70 months and the average
loan term on a used vehicle is about 71 months.
|
Total Unit
Sales
|
|
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
|
BMW
|
28,411
|
28,231
|
27,332
|
0.6 %
|
4.5 %
|
3.9 %
|
0.0 %
|
|
Daimler
|
28,712
|
20,081
|
30,241
|
43.0 %
|
48.5 %
|
-5.1 %
|
-8.7 %
|
|
Ford
|
149,677
|
174,464
|
141,633
|
-14.2 %
|
-10.9 %
|
5.7 %
|
1.6 %
|
|
GM
|
203,007
|
133,168
|
186,532
|
52.4 %
|
58.3 %
|
8.8 %
|
4.6 %
|
|
Honda
|
85,813
|
97,083
|
79,354
|
-11.6 %
|
-8.2 %
|
8.1 %
|
4.0 %
|
|
Hyundai
|
64,976
|
62,061
|
64,372
|
4.7 %
|
8.7 %
|
0.9 %
|
-2.9 %
|
|
Kia
|
57,761
|
52,067
|
56,270
|
10.9 %
|
15.2 %
|
2.7 %
|
-1.3 %
|
|
Nissan
|
63,551
|
59,859
|
53,400
|
6.2 %
|
10.3 %
|
19.0 %
|
14.4 %
|
|
Stellantis
|
113,589
|
131,496
|
122,567
|
-13.6 %
|
-10.3 %
|
-7.3 %
|
-10.9 %
|
|
Subaru
|
46,539
|
36,817
|
45,658
|
26.4 %
|
31.3 %
|
1.9 %
|
-2.0 %
|
|
Tesla
|
45,895
|
27,137
|
44,576
|
69.1 %
|
75.6 %
|
3.0 %
|
-1.0 %
|
|
Toyota
|
185,184
|
146,670
|
175,577
|
26.3 %
|
31.1 %
|
5.5 %
|
1.4 %
|
|
Volkswagen
Group
|
45,341
|
44,809
|
49,427
|
1.2 %
|
5.1 %
|
-8.3 %
|
-11.8 %
|
|
Industry
|
1,165,658
|
1,057,164
|
1,123,504
|
10.3 %
|
14.5 %
|
3.8 %
|
-0.2 %
|
|
Retail Unit
Sales
|
|
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
|
BMW
|
26,561
|
26,679
|
25,054
|
-0.4 %
|
3.4 %
|
6.0 %
|
1.9 %
|
|
Daimler
|
26,782
|
18,319
|
28,157
|
46.2 %
|
51.8 %
|
-4.9 %
|
-8.5 %
|
|
Ford
|
106,520
|
135,673
|
106,161
|
-21.5 %
|
-18.5 %
|
0.3 %
|
-3.5 %
|
|
GM
|
160,302
|
120,124
|
154,434
|
33.4 %
|
38.6 %
|
3.8 %
|
-0.2 %
|
|
Honda
|
83,730
|
96,584
|
77,119
|
-13.3 %
|
-10.0 %
|
8.6 %
|
4.4 %
|
|
Hyundai
|
63,407
|
61,257
|
63,665
|
3.5 %
|
7.5 %
|
-0.4 %
|
-4.2 %
|
|
Kia
|
55,798
|
48,874
|
54,393
|
14.2 %
|
18.6 %
|
2.6 %
|
-1.4 %
|
|
Nissan
|
55,590
|
53,227
|
43,668
|
4.4 %
|
8.5 %
|
27.3 %
|
22.4 %
|
|
Stellantis
|
83,742
|
105,427
|
97,743
|
-20.6 %
|
-17.5 %
|
-14.3 %
|
-17.6 %
|
|
Subaru
|
45,538
|
36,074
|
44,469
|
26.2 %
|
31.1 %
|
2.4 %
|
-1.5 %
|
|
Tesla
|
39,485
|
26,878
|
37,348
|
46.9 %
|
52.6 %
|
5.7 %
|
1.7 %
|
|
Toyota
|
166,442
|
137,503
|
157,414
|
21.0 %
|
25.7 %
|
5.7 %
|
1.7 %
|
|
Volkswagen
Group
|
40,506
|
44,058
|
45,190
|
-8.1 %
|
-4.5 %
|
-10.4 %
|
-13.8 %
|
|
Industry
|
995,808
|
951,356
|
976,052
|
4.7 %
|
8.7 %
|
2.0 %
|
-1.9 %
|
|
Fleet Unit
Sales
|
|
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
|
BMW
|
1,850
|
1,552
|
2,278
|
19.2 %
|
23.8 %
|
-18.8 %
|
-21.9 %
|
|
Daimler
|
1,930
|
1,762
|
2,084
|
9.6 %
|
13.8 %
|
-7.4 %
|
-11.0 %
|
|
Ford
|
43,157
|
38,791
|
35,472
|
11.3 %
|
15.5 %
|
21.7 %
|
17.0 %
|
|
GM
|
42,705
|
13,044
|
32,098
|
227.4 %
|
240.0 %
|
33.0 %
|
27.9 %
|
|
Honda
|
2,083
|
499
|
2,235
|
317.5 %
|
333.6 %
|
-6.8 %
|
-10.4 %
|
|
Hyundai
|
1,569
|
804
|
707
|
95.1 %
|
102.6 %
|
121.8 %
|
113.3 %
|
|
Kia
|
1,963
|
3,193
|
1,877
|
-38.5 %
|
-36.2 %
|
4.6 %
|
0.6 %
|
|
Nissan
|
7,961
|
6,632
|
9,732
|
20.0 %
|
24.7 %
|
-18.2 %
|
-21.3 %
|
|
Stellantis
|
29,847
|
26,069
|
24,824
|
14.5 %
|
18.9 %
|
20.2 %
|
15.6 %
|
|
Subaru
|
1,001
|
743
|
1,189
|
34.7 %
|
39.9 %
|
-15.8 %
|
-19.0 %
|
|
Tesla
|
6,410
|
259
|
7,228
|
2376.9 %
|
2472.1 %
|
-11.3 %
|
-14.7 %
|
|
Toyota
|
18,742
|
9,167
|
18,163
|
104.4 %
|
112.3 %
|
3.2 %
|
-0.8 %
|
|
Volkswagen
Group
|
4,835
|
751
|
4,237
|
543.9 %
|
568.7 %
|
14.1 %
|
9.7 %
|
|
Industry
|
166,917
|
105,610
|
144,519
|
58.1 %
|
64.1 %
|
15.5 %
|
11.1 %
|
|
Fleet
Penetration
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
YoY %
Change
|
MoM %
Change
|
|
BMW
|
6.5 %
|
5.5 %
|
8.3 %
|
18.4 %
|
-21.9 %
|
|
Daimler
|
6.7 %
|
8.8 %
|
6.9 %
|
-23.4 %
|
-2.5 %
|
|
Ford
|
28.8 %
|
22.2 %
|
25.0 %
|
29.7 %
|
15.1 %
|
|
GM
|
21.0 %
|
9.8 %
|
17.2 %
|
114.8 %
|
22.2 %
|
|
Honda
|
2.4 %
|
0.5 %
|
2.8 %
|
372.4 %
|
-13.8 %
|
|
Hyundai
|
2.4 %
|
1.3 %
|
1.1 %
|
86.3 %
|
119.7 %
|
|
Kia
|
3.4 %
|
6.1 %
|
3.3 %
|
-44.6 %
|
1.9 %
|
|
Nissan
|
12.5 %
|
11.1 %
|
18.2 %
|
13.1 %
|
-31.3 %
|
|
Stellantis
|
26.3 %
|
19.8 %
|
20.3 %
|
32.5 %
|
29.7 %
|
|
Subaru
|
2.2 %
|
2.0 %
|
2.6 %
|
6.6 %
|
-17.4 %
|
|
Tesla
|
14.0 %
|
1.0 %
|
16.2 %
|
1364.5 %
|
-13.9 %
|
|
Toyota
|
10.1 %
|
6.3 %
|
10.3 %
|
61.9 %
|
-2.2 %
|
|
Volkswagen
Group
|
10.7 %
|
1.7 %
|
8.6 %
|
536.4 %
|
24.4 %
|
|
Industry
|
14.3 %
|
10.0 %
|
12.9 %
|
43.3 %
|
11.3 %
|
|
Total Market
Share
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
|
BMW
|
2.4 %
|
2.7 %
|
2.4 %
|
|
Daimler
|
2.5 %
|
1.9 %
|
2.7 %
|
|
Ford
|
12.8 %
|
16.5 %
|
12.6 %
|
|
GM
|
17.4 %
|
12.6 %
|
16.6 %
|
|
Honda
|
7.4 %
|
9.2 %
|
7.1 %
|
|
Hyundai
|
5.6 %
|
5.9 %
|
5.7 %
|
|
Kia
|
5.0 %
|
4.9 %
|
5.0 %
|
|
Nissan
|
5.5 %
|
5.7 %
|
4.8 %
|
|
Stellantis
|
9.7 %
|
12.4 %
|
10.9 %
|
|
Subaru
|
4.0 %
|
3.5 %
|
4.1 %
|
|
Tesla
|
3.9 %
|
2.6 %
|
4.0 %
|
|
Toyota
|
15.9 %
|
13.9 %
|
15.6 %
|
|
Volkswagen
Group
|
3.9 %
|
4.2 %
|
4.4 %
|
|
96.0 %
|
95.9 %
|
95.9 %
|
|
Retail Market
Share
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
|
BMW
|
2.7 %
|
2.8 %
|
2.6 %
|
|
Daimler
|
2.7 %
|
1.9 %
|
2.9 %
|
|
Ford
|
10.7 %
|
14.3 %
|
10.9 %
|
|
GM
|
16.1 %
|
12.6 %
|
15.8 %
|
|
Honda
|
8.4 %
|
10.2 %
|
7.9 %
|
|
Hyundai
|
6.4 %
|
6.4 %
|
6.5 %
|
|
Kia
|
5.6 %
|
5.1 %
|
5.6 %
|
|
Nissan
|
5.6 %
|
5.6 %
|
4.5 %
|
|
Stellantis
|
8.4 %
|
11.1 %
|
10.0 %
|
|
Subaru
|
4.6 %
|
3.8 %
|
4.6 %
|
|
Tesla
|
4.0 %
|
2.8 %
|
3.8 %
|
|
Toyota
|
16.7 %
|
14.5 %
|
16.1 %
|
|
Volkswagen
Group
|
4.1 %
|
4.6 %
|
4.6 %
|
|
95.8 %
|
95.7 %
|
95.8 %
|
|
ATP
|
|
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
YOY
|
MOM
|
|
BMW
|
$70,632
|
$62,204
|
$69,542
|
13.5 %
|
1.6 %
|
|
Daimler
|
$71,531
|
$67,638
|
$68,945
|
5.8 %
|
3.8 %
|
|
Ford
|
$52,108
|
$49,608
|
$51,921
|
5.0 %
|
0.4 %
|
|
GM
|
$51,718
|
$53,408
|
$51,624
|
-3.2 %
|
0.2 %
|
|
Honda
|
$37,947
|
$34,977
|
$38,218
|
8.5 %
|
-0.7 %
|
|
Hyundai
|
$37,161
|
$35,849
|
$36,779
|
3.7 %
|
1.0 %
|
|
Kia
|
$34,177
|
$32,872
|
$34,749
|
4.0 %
|
-1.6 %
|
|
Nissan
|
$36,529
|
$34,846
|
$35,765
|
4.8 %
|
2.1 %
|
|
Stellantis
|
$54,549
|
$50,989
|
$54,546
|
7.0 %
|
0.0 %
|
|
Subaru
|
$33,961
|
$33,731
|
$34,758
|
0.7 %
|
-2.3 %
|
|
Toyota
|
$39,922
|
$41,166
|
$40,541
|
-3.0 %
|
-1.5 %
|
|
Volkswagen
Group
|
$46,462
|
$45,009
|
$46,656
|
3.2 %
|
-0.4 %
|
|
Industry
|
$44,625
|
$43,352
|
$44,845
|
2.9 %
|
-0.5 %
|
|
$1,273
|
|
-$220
|
|
|
|
Revenue
|
|
|
|
Manufacturer
|
Oct 2022
Forecast
|
Oct 2021
Actual
|
Sep 2022
Actual
|
YOY
|
MOM
|
|
Industry
|
$52,017,395,876
|
$45,829,774,915
|
$50,384,007,197
|
13.5 %
|
3.2 %
|
(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.
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SOURCE TrueCar.com