SANTA MONICA, Calif.,
Feb. 25, 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
1,071,377 units in February 2022, down 10% from a year
ago and up 7% from January 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 14.2 million, down 11% from
February 2021. Excluding fleet
sales, TrueCar expects U.S. retail deliveries of new cars
and light trucks to be 935,604 units, down 12% from a year ago and
up 4% from January 2022.
"After a volatile 2021 in terms of pricing and supply, this
month we're seeing signs of stability. From a supply standpoint,
we're seeing industry new listings roughly in line with January.
Additionally, from a pricing standpoint things appear to be
settling into a new equilibrium with the smallest month-over-month
average price change in at least a year," said Nick Woolard, Lead Industry Analyst at
TrueCar.
"This month we are seeing the lowest levels of leasing since the
onset of the pandemic when there was a proliferation of extended
term loans. Historically, leasing has been the go-to option for
shoppers looking for the lowest payment but over the past year we
have seen that shift," said Valeri
Tompkins, Senior Vice President of OEM Solutions at TrueCar.
"For shoppers configuring vehicles on TrueCar we're now seeing
lower average payments for 72-month loans than 36-month
leases."
Additional Industry Insights (from TrueCar):
- Total sales for February 2022 are
expected to be down 10% from a year ago and up 7% from January 2022 when adjusted for the same number of
selling days.
- Fleet sales for February 2022 are
expected to be up 3% from a year ago and up 30% from January 2022 when adjusted for the same number of
selling days.
- Incentive spend is down 53% from last year.
- Average transaction price is projected to be up 15% from a year
ago and down about 1% from January
2022.
- Total SAAR is expected to be down 11% from a year ago at 14.2
million units.
- Used vehicle sales for February
2022 are expected to reach 3.2 million, down 9% from a year
ago and up 8% from January 2022.
- The average interest rate on new vehicles is 4.5% and the
average interest rate on used vehicles is 7.4%.
- The average loan term on a new vehicle for February 2022 is 70 months and the average loan
term on a used vehicle is also 70 months.
Total Unit
Sales
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
24,332
|
26,393
|
24,024
|
-7.8%
|
-7.8%
|
1.3%
|
1.3%
|
Daimler
|
19,927
|
20,317
|
20,400
|
-1.9%
|
-1.9%
|
-2.3%
|
-2.3%
|
Ford
|
136,021
|
161,834
|
142,445
|
-16.0%
|
-16.0%
|
-4.5%
|
-4.5%
|
GM
|
165,610
|
191,846
|
142,574
|
-13.7%
|
-13.7%
|
16.2%
|
16.2%
|
Honda
|
82,027
|
106,328
|
73,949
|
-22.9%
|
-22.9%
|
10.9%
|
10.9%
|
Hyundai
|
58,475
|
50,735
|
51,510
|
15.3%
|
15.3%
|
13.5%
|
13.5%
|
Kia
|
46,811
|
48,062
|
42,488
|
-2.6%
|
-2.6%
|
10.2%
|
10.2%
|
Nissan
|
63,335
|
86,138
|
59,742
|
-26.5%
|
-26.5%
|
6.0%
|
6.0%
|
Stellantis
|
140,377
|
151,912
|
125,265
|
-7.6%
|
-7.6%
|
12.1%
|
12.1%
|
Subaru
|
52,002
|
48,300
|
44,158
|
7.7%
|
7.7%
|
17.8%
|
17.8%
|
Tesla
|
42,105
|
21,550
|
40,165
|
95.4%
|
95.4%
|
4.8%
|
4.8%
|
Toyota
|
167,319
|
184,249
|
158,676
|
-9.2%
|
-9.2%
|
5.4%
|
5.4%
|
Volkswagen
Group
|
36,919
|
46,846
|
37,971
|
-21.2%
|
-21.2%
|
-2.8%
|
-2.8%
|
Industry
|
1,071,377
|
1,196,008
|
1,002,006
|
-10.4%
|
-10.4%
|
6.9%
|
6.9%
|
Retail Unit
Sales
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
23,767
|
25,170
|
23,618
|
-5.6%
|
-5.6%
|
0.6%
|
0.6%
|
Daimler
|
18,881
|
19,510
|
19,983
|
-3.2%
|
-3.2%
|
-5.5%
|
-5.5%
|
Ford
|
101,977
|
133,486
|
115,636
|
-23.6%
|
-23.6%
|
-11.8%
|
-11.8%
|
GM
|
128,488
|
169,301
|
124,119
|
-24.1%
|
-24.1%
|
3.5%
|
3.5%
|
Honda
|
80,999
|
105,612
|
73,637
|
-23.3%
|
-23.3%
|
10.0%
|
10.0%
|
Hyundai
|
54,158
|
46,218
|
50,967
|
17.2%
|
17.2%
|
6.3%
|
6.3%
|
Kia
|
42,719
|
45,710
|
40,907
|
-6.5%
|
-6.5%
|
4.4%
|
4.4%
|
Nissan
|
53,160
|
67,638
|
49,289
|
-21.4%
|
-21.4%
|
7.9%
|
7.9%
|
Stellantis
|
114,002
|
126,068
|
106,028
|
-9.6%
|
-9.6%
|
7.5%
|
7.5%
|
Subaru
|
50,748
|
47,214
|
42,512
|
7.5%
|
7.5%
|
19.4%
|
19.4%
|
Tesla
|
41,920
|
21,550
|
40,151
|
94.5%
|
94.5%
|
4.4%
|
4.4%
|
Toyota
|
159,320
|
172,198
|
140,160
|
-7.5%
|
-7.5%
|
13.7%
|
13.7%
|
Volkswagen
Group
|
36,130
|
40,821
|
37,429
|
-11.5%
|
-11.5%
|
-3.5%
|
-3.5%
|
Industry
|
935,604
|
1,064,728
|
897,288
|
-12.1%
|
-12.1%
|
4.3%
|
4.3%
|
Fleet Unit
Sales
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
565
|
1,223
|
406
|
-53.8%
|
-53.8%
|
39.3%
|
39.3%
|
Daimler
|
1,046
|
807
|
417
|
29.6%
|
29.6%
|
150.7%
|
150.7%
|
Ford
|
34,044
|
28,348
|
26,809
|
20.1%
|
20.1%
|
27.0%
|
27.0%
|
GM
|
37,122
|
22,545
|
18,455
|
64.7%
|
64.7%
|
101.1%
|
101.1%
|
Honda
|
1,028
|
716
|
312
|
43.6%
|
43.6%
|
229.4%
|
229.4%
|
Hyundai
|
4,317
|
4,517
|
543
|
-4.4%
|
-4.4%
|
694.4%
|
694.4%
|
Kia
|
4,092
|
2,352
|
1,581
|
74.0%
|
74.0%
|
158.9%
|
158.9%
|
Nissan
|
10,175
|
18,500
|
10,453
|
-45.0%
|
-45.0%
|
-2.7%
|
-2.7%
|
Stellantis
|
26,375
|
25,844
|
19,237
|
2.1%
|
2.1%
|
37.1%
|
37.1%
|
Subaru
|
1,254
|
1,086
|
1,646
|
15.5%
|
15.5%
|
-23.8%
|
-23.8%
|
Tesla
|
185
|
-
|
14
|
|
|
1251.0%
|
1251.0%
|
Toyota
|
7,999
|
12,051
|
18,516
|
-33.6%
|
-33.6%
|
-56.8%
|
-56.8%
|
Volkswagen
Group
|
789
|
6,025
|
542
|
-86.9%
|
-86.9%
|
45.7%
|
45.7%
|
Industry
|
135,773
|
131,280
|
104,718
|
3.4%
|
3.4%
|
29.7%
|
29.7%
|
Fleet
Penetration
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YoY %
Change
|
MoM %
Change
|
BMW
|
2.3%
|
4.6%
|
1.7%
|
-49.9%
|
37.5%
|
Daimler
|
5.2%
|
4.0%
|
2.0%
|
32.2%
|
156.6%
|
Ford
|
25.0%
|
17.5%
|
18.8%
|
42.9%
|
33.0%
|
GM
|
22.4%
|
11.8%
|
12.9%
|
90.7%
|
73.2%
|
Honda
|
1.3%
|
0.7%
|
0.4%
|
86.1%
|
197.0%
|
Hyundai
|
7.4%
|
8.9%
|
1.1%
|
-17.1%
|
599.8%
|
Kia
|
8.7%
|
4.9%
|
3.7%
|
78.6%
|
135.0%
|
Nissan
|
16.1%
|
21.5%
|
17.5%
|
-25.2%
|
-8.2%
|
Stellantis
|
18.8%
|
17.0%
|
15.4%
|
10.4%
|
22.3%
|
Subaru
|
2.4%
|
2.2%
|
3.7%
|
7.3%
|
-35.3%
|
Tesla
|
0.4%
|
0.0%
|
0.0%
|
|
1188.7%
|
Toyota
|
4.8%
|
6.5%
|
11.7%
|
-26.9%
|
-59.0%
|
Volkswagen
Group
|
2.1%
|
12.9%
|
1.4%
|
-83.4%
|
49.8%
|
Industry
|
12.7%
|
11.0%
|
10.5%
|
15.5%
|
21.3%
|
Total Market
Share
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
BMW
|
2.3%
|
2.2%
|
2.4%
|
Daimler
|
1.9%
|
1.7%
|
2.0%
|
Ford
|
12.7%
|
13.5%
|
14.2%
|
GM
|
15.5%
|
16.0%
|
14.2%
|
Honda
|
7.7%
|
8.9%
|
7.4%
|
Hyundai
|
5.5%
|
4.2%
|
5.1%
|
Kia
|
4.4%
|
4.0%
|
4.2%
|
Nissan
|
5.9%
|
7.2%
|
6.0%
|
Stellantis
|
13.1%
|
12.7%
|
12.5%
|
Subaru
|
4.9%
|
4.0%
|
4.4%
|
Tesla
|
3.9%
|
1.8%
|
4.0%
|
Toyota
|
15.6%
|
15.4%
|
15.8%
|
Volkswagen
Group
|
3.4%
|
3.9%
|
3.8%
|
|
96.6%
|
95.7%
|
96.1%
|
Retail Market
Share
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
BMW
|
2.5%
|
2.4%
|
2.6%
|
Daimler
|
2.0%
|
1.8%
|
2.2%
|
Ford
|
10.9%
|
12.5%
|
12.9%
|
GM
|
13.7%
|
15.9%
|
13.8%
|
Honda
|
8.7%
|
9.9%
|
8.2%
|
Hyundai
|
5.8%
|
4.3%
|
5.7%
|
Kia
|
4.6%
|
4.3%
|
4.6%
|
Nissan
|
5.7%
|
6.4%
|
5.5%
|
Stellantis
|
12.2%
|
11.8%
|
11.8%
|
Subaru
|
5.4%
|
4.4%
|
4.7%
|
Tesla
|
4.5%
|
2.0%
|
4.5%
|
Toyota
|
17.0%
|
16.2%
|
15.6%
|
Volkswagen
Group
|
3.9%
|
3.8%
|
4.2%
|
|
96.9%
|
95.8%
|
96.3%
|
ATP
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YOY
|
MOM
|
BMW
|
$61,979
|
$58,682
|
$62,415
|
5.6%
|
-0.7%
|
Daimler
|
$75,184
|
$63,174
|
$75,051
|
19.0%
|
0.2%
|
Ford
|
$48,441
|
$45,349
|
$48,794
|
6.8%
|
-0.7%
|
GM
|
$51,574
|
$42,789
|
$51,143
|
20.5%
|
0.8%
|
Honda
|
$35,490
|
$30,737
|
$34,690
|
15.5%
|
2.3%
|
Hyundai
|
$36,989
|
$30,965
|
$35,567
|
19.5%
|
4.0%
|
Kia
|
$33,048
|
$29,448
|
$34,079
|
12.2%
|
-3.0%
|
Nissan
|
$32,948
|
$29,173
|
$34,150
|
12.9%
|
-3.5%
|
Stellantis
|
$52,661
|
$43,538
|
$52,294
|
21.0%
|
0.7%
|
Subaru
|
$34,258
|
$31,062
|
$35,310
|
10.3%
|
-3.0%
|
Toyota
|
$40,204
|
$35,646
|
$39,813
|
12.8%
|
1.0%
|
Volkswagen
Group
|
$46,378
|
$42,923
|
$46,303
|
8.0%
|
0.2%
|
Industry
|
$43,776
|
$38,163
|
$44,182
|
14.7%
|
-0.9%
|
|
$5,614
|
|
-$406
|
|
|
Incentives
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YOY
|
MOM
|
BMW
|
$2,242
|
$5,238
|
$2,795
|
-57.2%
|
-19.8%
|
Daimler
|
$1,774
|
$3,948
|
$2,083
|
-55.1%
|
-14.9%
|
Ford
|
$1,786
|
$3,350
|
$2,184
|
-46.7%
|
-18.2%
|
GM
|
$1,929
|
$4,533
|
$2,046
|
-57.5%
|
-5.7%
|
Honda
|
$1,186
|
$2,365
|
$1,249
|
-49.9%
|
-5.1%
|
Hyundai
|
$1,083
|
$2,268
|
$1,136
|
-52.3%
|
-4.7%
|
Kia
|
$1,403
|
$2,677
|
$1,753
|
-47.6%
|
-19.9%
|
Nissan
|
$1,888
|
$3,758
|
$2,010
|
-49.8%
|
-6.1%
|
Stellantis
|
$2,462
|
$4,628
|
$2,498
|
-46.8%
|
-1.4%
|
Subaru
|
$897
|
$1,321
|
$986
|
-32.1%
|
-9.0%
|
Toyota
|
$981
|
$2,548
|
$1,141
|
-61.5%
|
-14.0%
|
Volkswagen
Group
|
$2,020
|
$3,714
|
$1,963
|
-45.6%
|
2.9%
|
Industry
|
$1,619
|
$3,429
|
$1,804
|
-52.8%
|
-10.3%
|
|
-$1,810
|
|
-$186
|
|
|
Incentives as % of
ATP
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YOY
|
MOM
|
BMW
|
3.6%
|
8.9%
|
4.5%
|
-59.5%
|
-19.2%
|
Daimler
|
2.4%
|
6.2%
|
2.8%
|
-62.3%
|
-15.0%
|
Ford
|
3.7%
|
7.4%
|
4.5%
|
-50.1%
|
-17.6%
|
GM
|
3.7%
|
10.6%
|
4.0%
|
-64.7%
|
-6.5%
|
Honda
|
3.3%
|
7.7%
|
3.6%
|
-56.6%
|
-7.2%
|
Hyundai
|
2.9%
|
7.3%
|
3.2%
|
-60.0%
|
-8.4%
|
Kia
|
4.2%
|
9.1%
|
5.1%
|
-53.3%
|
-17.4%
|
Nissan
|
5.7%
|
12.9%
|
5.9%
|
-55.5%
|
-2.6%
|
Stellantis
|
4.7%
|
10.6%
|
4.8%
|
-56.0%
|
-2.1%
|
Subaru
|
2.6%
|
4.3%
|
2.8%
|
-38.4%
|
-6.2%
|
Toyota
|
2.4%
|
7.1%
|
2.9%
|
-65.9%
|
-14.8%
|
Volkswagen
Group
|
4.4%
|
8.7%
|
4.2%
|
-49.7%
|
2.7%
|
Industry
|
3.7%
|
9.0%
|
4.1%
|
-58.8%
|
-9.5%
|
Revenue
|
|
|
Manufacturer
|
Feb 2022
Forecast
|
Feb 2021
Actual
|
Jan 2022
Actual
|
YOY
|
MOM
|
Industry
|
$46,900,691,381
|
$45,642,691,291
|
$44,270,878,912
|
2.8%
|
5.9%
|
(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 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.
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multimedia:https://www.prnewswire.com/news-releases/truecar-releases-analysis-of-february-industry-sales-301490441.html
SOURCE TrueCar.com