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.
![](https://mma.prnewswire.com/media/1975167/TrueCar_graphic_Infographic.jpg)
"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 sales for December 2022 are
expected to be up 4.5% from a year ago and up about 4% from
November 2022 when adjusted for the
same number of selling days.
- Fleet sales for December 2022 are
expected to be up 46% from a year ago and up 8% from November 2022 when adjusted for the same number
of selling days.
- Average transaction price for new vehicles is projected to be
up 2% from a year ago and up 1% from November 2022.
- Total SAAR is expected to be up 3% from a year ago at about
13.3 million units.
- Used vehicle sales for December
2022 are expected to reach almost 2.5 million, down 10% from
a year ago and down 7% from November 2022.
- The average interest rate on new vehicles is 6.7% compared to
November 2022 at 6.6% and the average
interest rate on used vehicles is 10%.
- The average loan term on a new vehicle for December 2022 is about 70 months and the average
loan term on a used vehicle is also about 70 months.
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: pr@truecar.com
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multimedia:https://www.prnewswire.com/news-releases/truecar-releases-analysis-of-december-industry-sales-301710877.html
SOURCE TrueCar.com