PR Newswire | Apr 27, 2021 09:05AM EDT

Prior Year When Sales Bottomed Out Due to the Pandemic

04/27 08:03 CDT

TrueCar Forecasts Total New Vehicle Sales up 97% for April 2021 Compared to Prior Year When Sales Bottomed Out Due to the PandemicIncentive Spend to Reach Lowest Point in Five Years SANTA MONICA, Calif., April 27, 2021

SANTA MONICA, Calif., April 27, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, forecasts total new vehicle sales will reach 1,402,135 units in April 2021, up 97% from a year ago and down 12.6% from March 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 17.1 million, bouncing back from 8.7 million SAAR in April 2020. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,259,036 units, an increase of 94.5% from a year ago and a decrease of 11.8% from March 2021, when adjusted for the same number of selling days.

"April of last year was the first full month of COVID-19's impact on the day-to-day lives of Americans and the economy, and saw vehicle sales plummet to the lowest point during the pandemic. Despite the inventory challenges that linger, seeing total and retail sales up nearly 100% in one year is a hopeful and exciting milestone for the auto industry and economy," said Nick Woolard, Lead Industry Analyst at TrueCar.

"The domestics kicked up their 0% APR for 84-month sales promotions last April to spur demand which is why they were not down as much as others this time last year and are up double digits compared with most other brands that are up triple digits year-over-year," added Woolard.

"Inventory remains tight and incentives are down nearly 30% from last year so consumers need to be savvy and ready to make some concessions in order to find the car they want at the price they want to pay," said Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar. "Expanding the search criteria and removing filters will expand the options. And as used vehicle prices continue to rise and the gap between new and used vehicles continues to narrow, consumers should consider cross-shopping new and used to get the best value."

Additional Insights (forecast byTrueCar):

* Total retail sales for April 2021 are expected to be up 95% from a year ago and down 11.8% from March 2021 when adjusted for the same number of selling days. * Fleet sales for April 2021 are expected to be up 125% from a year ago and down 20% from March 2021 when adjusted for the same number of selling days. * Incentive spend is down 27.8% from last year and is the lowest since April 2016. * Average transaction price is projected to be flat from a year ago and down 0.2% from March 2021. * Total SAAR is expected to increase 97% from a year ago from 8.72 million units to 17.1 million units. * Used vehicle sales for April 2021 are expected to reach 3.4 million, up 58% from a year ago and down 6% from March 2021. * The average interest rate on new vehicles is 5.7% and the average interest rate on used vehicles is 8.4%. * The average loan term on a new vehicle for April 2021 is 73 months and the average loan term on a used vehicle is 68 months.

April 2021 forecasts for the 13 largest manufacturers by volume.For additional data, visit the TrueCar Newsroom.

Total Unit Sales

YoY % MoM % Change MoM % Change Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YoY % Change (Daily Change (Daily Selling Selling Rate) Rate)

BMW 21,526 8,255 31,888 160.8% 160.8% -32.5% -32.5%

Daimler 20,230 11,278 24,651 79.4% 79.4% -17.9% -17.9%

Ford 193,297 119,591 213,300 61.6% 61.6% -9.4% -9.4%

GM 197,754 137,573 245,606 43.7% 43.7% -19.5% -19.5%

Honda 146,576 57,751 148,538 153.8% 153.8% -1.3% -1.3%

Hyundai 72,732 34,774 78,409 109.2% 109.2% -7.2% -7.2%

Kia 48,548 31,705 66,523 53.1% 53.1% -27.0% -27.0%

Nissan 95,624 46,689 128,334 104.8% 104.8% -25.5% -25.5%

Stellantis 153,837 92,053 183,333 67.1% 67.1% -16.1% -16.1%

Subaru 77,491 30,620 65,726 153.1% 153.1% 17.9% 17.9%

Tesla 28,521 6,200 23,050 360.0% 360.0% 23.7% 23.7%

Toyota 229,351 85,163 256,485 169.3% 169.3% -10.6% -10.6%

Volkswagen Group 59,552 28,347 70,276 110.1% 110.1% -15.3% -15.3%

Industry 1,402,135 710,827 1,604,983 97.3% 97.3% -12.6% -12.6%

Retail Unit Sales

YoY % MoM % Change MoM % Change Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YoY % Change (Daily Change (Daily Selling Selling Rate) Rate)

BMW 21,212 8,108 31,340 161.6% 161.6% -32.3% -32.3%

Daimler 18,955 10,684 24,147 77.4% 77.4% -21.5% -21.5%

Ford 144,336 96,580 173,386 49.4% 49.4% -16.8% -16.8%

GM 171,110 121,681 213,654 40.6% 40.6% -19.9% -19.9%

Honda 145,611 57,301 147,917 154.1% 154.1% -1.6% -1.6%

Hyundai 69,752 33,984 75,339 105.3% 105.3% -7.4% -7.4%

Kia 47,644 30,898 64,048 54.2% 54.2% -25.6% -25.6%

Nissan 80,001 39,648 105,841 101.8% 101.8% -24.4% -24.4%

Stellantis 137,611 82,948 151,435 65.9% 65.9% -9.1% -9.1%

Subaru 75,607 29,741 63,276 154.2% 154.2% 19.5% 19.5%

Tesla 28,415 6,200 23,042 358.3% 358.3% 23.3% 23.3%

Toyota 209,026 81,857 226,861 155.4% 155.4% -7.9% -7.9%

Volkswagen Group 58,990 28,085 69,254 110.0% 110.0% -14.8% -14.8%

Industry 1,259,036 647,164 1,427,357 94.5% 94.5% -11.8% -11.8%

Fleet Unit Sales

YoY % MoM % Change MoM % Change Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YoY % Change (Daily Change (Daily Selling Selling Rate) Rate)

BMW 314 147 548 114.4% 114.4% -42.6% -42.6%

Daimler 1,275 594 504 114.4% 114.4% 152.8% 152.8%

Ford 48,961 23,011 39,914 112.8% 112.8% 22.7% 22.7%

GM 26,644 15,892 31,952 67.7% 67.7% -16.6% -16.6%

Honda 965 450 621 114.4% 114.4% 55.4% 55.4%

Hyundai 2,980 790 3,070 277.2% 277.2% -2.9% -2.9%

Kia 904 807 2,475 12.0% 12.0% -63.5% -63.5%

Nissan 15,623 7,041 22,493 121.9% 121.9% -30.5% -30.5%

Stellantis 16,226 9,105 31,898 78.2% 78.2% -49.1% -49.1%

Subaru 1,884 879 2,450 114.4% 114.4% -23.1% -23.1%

Tesla 106 - 8 1255.1% 1255.1%

Toyota 20,325 3,306 29,624 514.8% 514.8% -31.4% -31.4%

Volkswagen Group 562 262 1,022 114.4% 114.4% -45.1% -45.1%

Industry 143,098 63,663 177,626 124.8% 124.8% -19.4% -19.4%

Fleet Penetration

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YoY % Change MoM % Change

BMW 1.5% 1.8% 1.7% -17.8% -15.0%

Daimler 6.3% 5.3% 2.0% 19.5% 208.0%

Ford 25.3% 19.2% 18.7% 31.6% 35.4%

GM 13.5% 11.6% 13.0% 16.6% 3.6%

Honda 0.7% 0.8% 0.4% -15.5% 57.5%

Hyundai 4.1% 2.3% 3.9% 80.3% 4.7%

Kia 1.9% 2.5% 3.7% -26.8% -49.9%

Nissan 16.3% 15.1% 17.5% 8.3% -6.8%

Stellantis 10.5% 9.9% 17.4% 6.6% -39.4%

Subaru 2.4% 2.9% 3.7% -15.3% -34.8%

Tesla 0.4% 0.0% 0.0% 995.1%

Toyota 8.9% 3.9% 11.6% 128.3% -23.3%

Volkswagen Group 0.9% 0.9% 1.5% 2.1% -35.2%

Industry 10.2% 9.0% 11.1% 14.0% -7.8%

Total Market Share

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual

BMW 1.5% 1.2% 2.0%

Daimler 1.4% 1.6% 1.5%

Ford 13.8% 16.8% 13.3%

GM 14.1% 19.4% 15.3%

Honda 10.5% 8.1% 9.3%

Hyundai 5.2% 4.9% 4.9%

Kia 3.5% 4.5% 4.1%

Nissan 6.8% 6.6% 8.0%

Stellantis 11.0% 13.0% 11.4%

Subaru 5.5% 4.3% 4.1%

Tesla 2.0% 0.9% 1.4%

Toyota 16.4% 12.0% 16.0%

Volkswagen Group 4.2% 4.0% 4.4%

95.9% 97.1% 95.7%

Retail Market Share

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual

BMW 1.7% 1.3% 2.2%

Daimler 1.5% 1.7% 1.7%

Ford 11.5% 14.9% 12.1%

GM 13.6% 18.8% 15.0%

Honda 11.6% 8.9% 10.4%

Hyundai 5.5% 5.3% 5.3%

Kia 3.8% 4.8% 4.5%

Nissan 6.4% 6.1% 7.4%

Stellantis 10.9% 12.8% 10.6%

Subaru 6.0% 4.6% 4.4%

Tesla 2.3% 1.0% 1.6%

Toyota 16.6% 12.6% 15.9%

Volkswagen Group 4.7% 4.3% 4.9%

96.0% 97.0% 95.9%

ATP

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YOY MOM

BMW $58,542 $58,415 $59,151 0.2% -1.0%

Daimler $60,307 $60,359 $61,211 -0.1% -1.5%

Ford $43,808 $43,335 $44,143 1.1% -0.8%

GM $42,981 $41,246 $41,335 4.2% 4.0%

Honda $31,280 $29,960 $31,519 4.4% -0.8%

Hyundai $28,864 $27,742 $29,186 4.0% -1.1%

Kia $28,511 $25,671 $28,248 11.1% 0.9%

Nissan $30,217 $29,127 $29,520 3.7% 2.4%

Stellantis $44,386 $42,491 $42,777 4.5% 3.8%

Subaru $30,408 $31,118 $30,382 -2.3% 0.1%

Toyota $34,500 $34,159 $34,361 1.0% 0.4%

Volkswagen Group $44,401 $41,836 $44,103 6.1% 0.7%

Industry $37,144 $37,161 $37,215 0.0% -0.2%

-$17.6 -$72

Incentives

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YOY MOM

BMW $4,559 $6,031 $4,997 -24.4% -8.8%

Daimler $4,187 $7,289 $4,221 -42.6% -0.8%

Ford $2,935 $4,406 $3,042 -33.4% -3.5%

GM $4,699 $5,809 $4,836 -19.1% -2.8%

Honda $2,294 $2,825 $2,382 -18.8% -3.7%

Hyundai $2,392 $2,731 $2,541 -12.4% -5.8%

Kia $2,609 $4,016 $2,817 -35.0% -7.4%

Nissan $3,047 $4,774 $3,331 -36.2% -8.5%

Stellantis $3,753 $5,622 $4,640 -33.2% -19.1%

Subaru $1,272 $1,765 $1,275 -27.9% -0.2%

Toyota $2,476 $2,419 $2,774 2.4% -10.7%

Volkswagen Group $4,001 $4,480 $4,001 -10.7% 0.0%

Industry $3,102 $4,297 $3,424 -27.8% -9.4%

-$1,195 -$322





Incentives as % of ATP

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YOY MOM

BMW 7.8% 10.3% 8.4% -24.6% -7.8%

Daimler 6.9% 12.1% 6.9% -42.5% 0.7%

Ford 6.7% 10.2% 6.9% -34.1% -2.8%

GM 10.9% 14.1% 11.7% -22.4% -6.6%

Honda 7.3% 9.4% 7.6% -22.2% -3.0%

Hyundai 8.3% 9.8% 8.7% -15.8% -4.8%

Kia 9.2% 15.6% 10.0% -41.5% -8.2%

Nissan 10.1% 16.4% 11.3% -38.5% -10.6%

Stellantis 8.5% 13.2% 10.8% -36.1% -22.0%

Subaru 4.2% 5.7% 4.2% -26.2% -0.3%

Toyota 7.2% 7.1% 8.1% 1.4% -11.1%

Volkswagen Group 9.0% 10.7% 9.1% -15.9% -0.7%

Industry 8.4% 11.6% 9.2% -27.8% -9.2%

Revenue

Manufacturer Apr 2021 Forecast Apr 2020 Actual Mar 2021 Actual YOY MOM

Industry $52,080,395,420 $26,415,189,900 $59,729,977,426 97.2% -12.8%

(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 TrueCarTrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car 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 car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam's Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. 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. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pr@truecar.com

TrueCar Public Relations Contact:Shadee Malekafzalishadee@truecar.com424.258.8694

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SOURCE TrueCar, Inc.