- Published: 03 February 2015
- Written by Editor
January new vehicle revenue jumps 17.2% to $38 billion, signaling sustained U.S. auto rebound
Projected sales and revenue growth at 2015's outset offset typically lackluster January demand
SANTA MONICA, Calif., Feb. 3, 2015 -- TrueCar, Inc. (TRUE), the negotiation-free car buying and selling mobile marketplace, found increased sales volume and higher transaction prices in January generated $37.6 billion of net revenue for automakers, a 17.2 percent jump from the year-earlier month.
TrueCar estimates U.S. sales of new cars and light trucks expanded 13.2 percent last month, reaching the highest January volume since 2000. The average transaction price (ATP) for light vehicles was $32,812, up 3.5 percent from a year ago, while average incentive spending per unit increased by $93 to $2,642. The ratio of incentive spending to ATP was 8.1 percent, expanding slightly from 8.0 percent compared to prior year.
"January turned out to be a very healthy month for several automakers, with GM, Honda and Subaru all posting net revenue gains of over 20 percent," said Eric Lyman, vice president of industry insights for TrueCar. "With consumer spending rising at the highest rate since 2006, consumer sentiment at a decade high and low gasoline prices we're bullish on automakers' total revenue for the year. TrueCar projects a 4.8 percent increase from last year, reaching an astounding $553 billion in new vehicle revenue."
Average Transaction Price (ATP)
|
Manufacturer |
Jan. 2015 Forecast |
Jan. 2014 |
Dec. 2014 |
Percent Change vs. Jan. 2014 |
Percent Change vs. Dec. 2014 |
|
FCA (Chrysler, Dodge, Jeep, Ram, Fiat) |
$31,774 |
$30,941 |
$32,220 |
2.7% |
-1.4% |
|
Ford (Ford, Lincoln) |
$34,441 |
$33,982 |
$34,566 |
1.3% |
-0.4% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
$36,173 |
$33,578 |
$36,789 |
7.7% |
-1.7% |
|
Honda (Acura, Honda) |
$28,190 |
$27,133 |
$27,978 |
3.9% |
0.8% |
|
Hyundai |
$24,284 |
$23,577 |
$24,021 |
3.0% |
1.1% |
|
Kia |
$23,802 |
$23,438 |
$24,192 |
1.6% |
-1.6% |
|
Nissan (Nissan, Infiniti) |
$27,231 |
$26,745 |
$27,355 |
1.8% |
-0.5% |
|
Subaru |
$28,021 |
$26,356 |
$28,248 |
6.3% |
-0.8% |
|
Toyota (Lexus, Scion, Toyota) |
$30,823 |
$30,173 |
$31,742 |
2.2% |
-2.9% |
|
Volkswagen (Audi, Porsche, Volkswagen) |
$40,530 |
$40,288 |
$38,506 |
0.6% |
5.3% |
|
Industry |
$32,812 |
$31,707 |
$33,297 |
3.5% |
-1.5% |
TrueCar estimates the average incentive for light vehicles in January increased $93, or 3.6 percent, from a year ago, while declining $307, or 10.4 percent, from December 2014.
Incentive per Unit Spending
|
Manufacturer |
Jan. 2014 Forecast |
Jan. 2014 |
Dec. 2014 |
Percent Change vs. Jan. 2014 |
Percent Change vs. Dec. 2014 |
|
FCA (Chrysler, Dodge, Jeep, Ram, Fiat) |
$3,027 |
$2,924 |
$3,185 |
3.5% |
-5.0% |
|
Ford (Ford, Lincoln) |
$2,899 |
$3,235 |
$3,093 |
-10.4% |
-6.3% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
$3,314 |
$3,159 |
$3,509 |
4.9% |
-5.5% |
|
Honda (Acura, Honda) |
$2,089 |
$1,957 |
$2,241 |
6.8% |
-6.7% |
|
Hyundai |
$1,645 |
$1,667 |
$1,731 |
-1.3% |
-5.0% |
|
Kia |
$2,577 |
$2,260 |
$2,748 |
14.0% |
-6.2% |
|
Nissan (Nissan, Infiniti) |
$2,529 |
$2,524 |
$3,672 |
0.2% |
-31.1% |
|
Subaru |
$787 |
$921 |
$769 |
-14.5% |
2.4% |
|
Toyota (Lexus, Scion, Toyota) |
$1,729 |
$1,856 |
$1,965 |
-6.8% |
-12.0% |
|
Volkswagen (Audi, Porsche, Volkswagen) |
$2,492 |
$2,468 |
$2,683 |
1.0% |
-7.1% |
|
Industry |
$2,642 |
$2,550 |
$2,949 |
3.6% |
-10.4% |
Last month's ratio of incentive to ATP for light vehicles was 8.1 percent, up 0.1 percent from January 2014 and down 9.1 percent from December 2014, based on TrueCar analysis. Subaru and Ford showed the most improvement in ATP ratio in January versus the year-earlier month.
Incentive Spending as a Percentage of ATP
|
Manufacturer |
Jan. 2015 Forecast |
Jan. 2014 |
Dec. 2014 |
Percent Change vs. Jan. 2014 |
Percent Change vs. Dec. 2014 |
|
FCA (Chrysler, Dodge, Jeep, Ram, Fiat) |
9.5% |
9.4% |
9.9% |
0.8% |
-3.6% |
|
Ford (Ford, Lincoln) |
8.4% |
9.5% |
8.9% |
-11.6% |
-6.0% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
9.2% |
9.4% |
9.5% |
-2.6% |
-3.9% |
|
Honda (Acura, Honda) |
7.4% |
7.2% |
8.0% |
2.8% |
-7.4% |
|
Hyundai |
6.8% |
7.1% |
7.2% |
-4.2% |
-6.0% |
|
Kia |
10.8% |
9.6% |
11.4% |
12.3% |
-4.7% |
|
Nissan (Nissan, Infiniti) |
9.3% |
9.4% |
13.4% |
-1.6% |
-30.8% |
|
Subaru |
2.8% |
3.5% |
2.7% |
-19.6% |
3.2% |
|
Toyota (Lexus, Scion, Toyota) |
5.6% |
6.2% |
6.2% |
-8.8% |
-9.4% |
|
Volkswagen (Audi, Porsche, Volkswagen) |
6.1% |
6.1% |
7.0% |
0.4% |
-11.8% |
|
Industry |
8.1% |
8.0% |
8.9% |
0.1% |
-9.1% |
Total Net Revenue
|
Manufacturer |
Jan. 2015 Forecast |
Jan. 2014 |
Percent Change vs. Jan. 2014 |
|
FCA (Chrysler, Dodge, Jeep, Ram, Fiat) |
$4,604,008,408 |
$3,952,712,750 |
16.5% |
|
Ford (Ford, Lincoln) |
$6,061,545,987 |
$5,216,033,108 |
16.2% |
|
GM (Buick, Cadillac, Chevrolet, GMC) |
$7,343,040,410 |
$5,758,156,908 |
27.5% |
|
Honda (Acura, Honda) |
$3,016,325,728 |
$2,486,223,923 |
21.3% |
|
Hyundai |
$1,078,205,160 |
$1,037,505,885 |
3.9% |
|
Kia |
$894,950,850 |
$867,463,818 |
3.2% |
|
Nissan (Nissan, Infiniti) |
$2,829,305,460 |
$2,419,620,150 |
16.9% |
|
Subaru |
$1,064,787,591 |
$869,748,000 |
22.4% |
|
Toyota (Lexus, Scion, Toyota) |
$5,138,143,615 |
$4,416,271,145 |
16.3% |
|
Volkswagen (Audi, Porsche, Volkswagen) |
$1,629,304,425 |
$1,487,674,688 |
9.5% |
|
Industry |
$37,622,800,528 |
$32,105,937,474 |
17.2% |
About TrueCar
TrueCar, Inc. (TRUE), the negotiation-free car buying and selling mobile marketplace, gives consumers transparent insight into what others paid and access to guaranteed savings off MSRP from TrueCar Certified Dealers. TrueCar's network of more than 10,000 trusted Certified Dealers is committed to providing upfront pricing information and a hassle-free buying experience. TrueCar powers car-buying programs for some of the largest U.S. membership and service organizations, including AARP, American Express, AAA and USAA. Not all program features are available in all states. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter.
