May sales on pace for 23 month
high
SANTA
MONICA, Calif., May 30, 2023
/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 1,388,602 units in May 2023, up nearly 20% from a
year ago and up 6.5% from April 2023,
when adjusted for the same number of selling days. Excluding fleet
sales, TrueCar expects U.S. retail deliveries of new cars
and light trucks to be 1,145,561 units, up almost 16% from a
year ago and up 7% from April
2023.
"Sales are expected to be strong this month as we head into the
summer, with growing incentives and inventory options drawing
consumers back into the market," said Zack
Krelle, Industry Analyst at TrueCar.
"The average transaction price for trucks is up the most this
year as incentives for SUVs and cars climb faster. Incentives for
SUVs are growing the most quickly which is greatly contributing to
the high sales pace," said Justin
Colon, Vice President of OEM Solutions at TrueCar.
Additional May Industry Insights (from TrueCar):
- Total sales for May 2023 are
expected to be up nearly 20% from a year ago and up 6.5% from
April 2023 when adjusted for the same
number of selling days.
- Fleet sales for May 2023 are
expected to be up almost 40% from a year ago and up 4% from
April 2023 when adjusted for the same
number of selling days.
- Average transaction price for new vehicles is projected to be
up 2.7% from a year ago and about even with April 2023.
- Used vehicle sales for May 2023
are expected to reach about 3.1 million, down 4% from a year ago
and up 1% from April 2023.
- The average interest rate on new vehicles is 7.1%, slightly
higher than April 2023 and the
average interest rate on used vehicles is 10.75%, about even with
April 2023.
- The average loan term on a new vehicle for May 2023 is about 69 months and the average loan
term on a used vehicle is about 70 months.
Total Unit
Sales
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling
Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
31,087
|
26,988
|
29,925
|
15.2 %
|
10.6 %
|
3.9 %
|
8.0 %
|
Daimler
|
31,451
|
24,851
|
29,786
|
26.6 %
|
21.5 %
|
5.6 %
|
9.8 %
|
Ford
|
179,977
|
153,434
|
182,623
|
17.3 %
|
12.6 %
|
-1.4 %
|
2.5 %
|
GM
|
234,596
|
177,856
|
227,329
|
31.9 %
|
26.6 %
|
3.2 %
|
7.3 %
|
Honda
|
124,393
|
75,491
|
116,082
|
64.8 %
|
58.2 %
|
7.2 %
|
11.4 %
|
Hyundai
|
75,752
|
63,832
|
76,669
|
18.7 %
|
13.9 %
|
-1.2 %
|
2.8 %
|
Kia
|
67,125
|
57,941
|
68,205
|
15.9 %
|
11.2 %
|
-1.6 %
|
2.4 %
|
Nissan
|
84,290
|
53,381
|
83,746
|
57.9 %
|
51.6 %
|
0.6 %
|
4.7 %
|
Stellantis
|
148,938
|
130,987
|
137,019
|
13.7 %
|
9.2 %
|
8.7 %
|
13.0 %
|
Subaru
|
52,554
|
42,526
|
51,014
|
23.6 %
|
18.6 %
|
3.0 %
|
7.1 %
|
Tesla
|
56,835
|
47,706
|
55,865
|
19.1 %
|
14.4 %
|
1.7 %
|
5.8 %
|
Toyota
|
186,666
|
176,772
|
185,988
|
5.6 %
|
1.4 %
|
0.4 %
|
4.4 %
|
Volkswagen
Group
|
51,858
|
46,397
|
50,591
|
11.8 %
|
7.3 %
|
2.5 %
|
6.6 %
|
Industry
|
1,388,602
|
1,114,583
|
1,356,551
|
24.6 %
|
19.6 %
|
2.4 %
|
6.5 %
|
|
|
|
|
|
|
Retail Unit
Sales
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling
Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
28,336
|
25,915
|
28,202
|
9.3 %
|
5.0 %
|
0.5 %
|
4.5 %
|
Daimler
|
29,606
|
23,309
|
28,351
|
27.0 %
|
21.9 %
|
4.4 %
|
8.6 %
|
Ford
|
128,491
|
113,103
|
126,733
|
13.6 %
|
9.1 %
|
1.4 %
|
5.4 %
|
GM
|
179,999
|
139,026
|
172,383
|
29.5 %
|
24.3 %
|
4.4 %
|
8.6 %
|
Honda
|
120,654
|
71,143
|
113,789
|
69.6 %
|
62.8 %
|
6.0 %
|
10.3 %
|
Hyundai
|
69,766
|
63,188
|
70,997
|
10.4 %
|
6.0 %
|
-1.7 %
|
2.2 %
|
Kia
|
60,484
|
54,484
|
60,677
|
11.0 %
|
6.6 %
|
-0.3 %
|
3.7 %
|
Nissan
|
61,525
|
43,630
|
61,095
|
41.0 %
|
35.4 %
|
0.7 %
|
4.7 %
|
Stellantis
|
102,296
|
103,631
|
89,742
|
-1.3 %
|
-5.2 %
|
14.0 %
|
18.5 %
|
Subaru
|
49,452
|
41,185
|
48,367
|
20.1 %
|
15.3 %
|
2.2 %
|
6.3 %
|
Tesla
|
54,634
|
36,909
|
54,818
|
48.0 %
|
42.1 %
|
-0.3 %
|
3.6 %
|
Toyota
|
162,131
|
155,658
|
162,369
|
4.2 %
|
0.0 %
|
-0.1 %
|
3.8 %
|
Volkswagen
Group
|
47,670
|
44,836
|
46,974
|
6.3 %
|
2.1 %
|
1.5 %
|
5.5 %
|
Industry
|
1,145,561
|
949,271
|
1,113,487
|
20.7 %
|
15.9 %
|
2.9 %
|
7.0 %
|
|
|
|
|
|
|
Fleet Unit
Sales
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YoY %
Change
|
YoY % Change
(Daily Selling
Rate)
|
MoM %
Change
|
MoM % Change
(Daily Selling Rate)
|
BMW
|
2,751
|
1,073
|
1,723
|
156.3 %
|
146.0 %
|
59.7 %
|
66.1 %
|
Daimler
|
1,845
|
1,542
|
1,435
|
19.6 %
|
14.8 %
|
28.6 %
|
33.7 %
|
Ford
|
51,486
|
40,331
|
55,890
|
27.7 %
|
22.6 %
|
-7.9 %
|
-4.2 %
|
GM
|
54,597
|
38,830
|
54,946
|
40.6 %
|
35.0 %
|
-0.6 %
|
3.3 %
|
Honda
|
3,739
|
4,348
|
2,293
|
-14.0 %
|
-17.4 %
|
63.1 %
|
69.6 %
|
Hyundai
|
5,986
|
644
|
5,672
|
829.7 %
|
792.5 %
|
5.5 %
|
9.8 %
|
Kia
|
6,641
|
3,457
|
7,528
|
92.1 %
|
84.4 %
|
-11.8 %
|
-8.2 %
|
Nissan
|
22,765
|
9,751
|
22,651
|
133.5 %
|
124.1 %
|
0.5 %
|
4.5 %
|
Stellantis
|
46,642
|
27,356
|
47,277
|
70.5 %
|
63.7 %
|
-1.3 %
|
2.6 %
|
Subaru
|
3,102
|
1,341
|
2,647
|
131.4 %
|
122.1 %
|
17.2 %
|
21.9 %
|
Tesla
|
2,201
|
10,797
|
1,047
|
-79.6 %
|
-80.4 %
|
110.3 %
|
118.7 %
|
Toyota
|
24,535
|
21,114
|
23,619
|
16.2 %
|
11.6 %
|
3.9 %
|
8.0 %
|
Volkswagen
Group
|
4,188
|
1,561
|
3,617
|
168.2 %
|
157.5 %
|
15.8 %
|
20.4 %
|
Industry
|
239,075
|
165,114
|
239,522
|
44.8 %
|
39.0 %
|
-0.2 %
|
3.8 %
|
|
Fleet
Penetration
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YoY %
Change
|
MoM %
Change
|
BMW
|
8.8 %
|
4.0 %
|
5.8 %
|
122.5 %
|
53.7 %
|
Daimler
|
5.9 %
|
6.2 %
|
4.8 %
|
-5.5 %
|
21.8 %
|
Ford
|
28.6 %
|
26.3 %
|
30.6 %
|
8.8 %
|
-6.5 %
|
GM
|
23.3 %
|
21.8 %
|
24.2 %
|
6.6 %
|
-3.7 %
|
Honda
|
3.0 %
|
5.8 %
|
2.0 %
|
-47.8 %
|
52.2 %
|
Hyundai
|
7.9 %
|
1.0 %
|
7.4 %
|
683.4 %
|
6.8 %
|
Kia
|
9.9 %
|
6.0 %
|
11.0 %
|
65.8 %
|
-10.4 %
|
Nissan
|
27.0 %
|
18.3 %
|
27.0 %
|
47.9 %
|
-0.1 %
|
Stellantis
|
31.3 %
|
20.9 %
|
34.5 %
|
50.0 %
|
-9.2 %
|
Subaru
|
5.9 %
|
3.2 %
|
5.2 %
|
87.2 %
|
13.7 %
|
Tesla
|
3.9 %
|
22.6 %
|
1.9 %
|
-82.9 %
|
106.7 %
|
Toyota
|
13.1 %
|
11.9 %
|
12.7 %
|
10.0 %
|
3.5 %
|
Volkswagen
Group
|
8.1 %
|
3.4 %
|
7.2 %
|
140.0 %
|
12.9 %
|
Industry
|
17.2 %
|
14.8 %
|
17.7 %
|
16.2 %
|
-2.5 %
|
|
Total Market
Share
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
BMW
|
2.2 %
|
2.4 %
|
2.2 %
|
Daimler
|
2.3 %
|
2.2 %
|
2.2 %
|
Ford
|
13.0 %
|
13.8 %
|
13.5 %
|
GM
|
16.9 %
|
16.0 %
|
16.8 %
|
Honda
|
9.0 %
|
6.8 %
|
8.6 %
|
Hyundai
|
5.5 %
|
5.7 %
|
5.7 %
|
Kia
|
4.8 %
|
5.2 %
|
5.0 %
|
Nissan
|
6.1 %
|
4.8 %
|
6.2 %
|
Stellantis
|
10.7 %
|
11.8 %
|
10.1 %
|
Subaru
|
3.8 %
|
3.8 %
|
3.8 %
|
Tesla
|
4.1 %
|
4.3 %
|
4.1 %
|
Toyota
|
13.4 %
|
15.9 %
|
13.7 %
|
Volkswagen
Group
|
3.7 %
|
4.2 %
|
3.7 %
|
|
95.5 %
|
96.7 %
|
95.5 %
|
|
|
Retail Market
Share
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
BMW
|
2.5 %
|
2.7 %
|
2.5 %
|
Daimler
|
2.6 %
|
2.5 %
|
2.5 %
|
Ford
|
11.2 %
|
11.9 %
|
11.4 %
|
GM
|
15.7 %
|
14.6 %
|
15.5 %
|
Honda
|
10.5 %
|
7.5 %
|
10.2 %
|
Hyundai
|
6.1 %
|
6.7 %
|
6.4 %
|
Kia
|
5.3 %
|
5.7 %
|
5.4 %
|
Nissan
|
5.4 %
|
4.6 %
|
5.5 %
|
Stellantis
|
8.9 %
|
10.9 %
|
8.1 %
|
Subaru
|
4.3 %
|
4.3 %
|
4.3 %
|
Tesla
|
4.8 %
|
3.9 %
|
4.9 %
|
Toyota
|
14.2 %
|
16.4 %
|
14.6 %
|
Volkswagen
Group
|
4.2 %
|
4.7 %
|
4.2 %
|
|
95.6 %
|
96.5 %
|
95.6 %
|
|
|
|
ATP
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YOY
|
MOM
|
BMW
|
$70,162
|
$64,688
|
$69,289
|
8.5 %
|
1.3 %
|
Daimler
|
$74,718
|
$64,698
|
$78,504
|
15.5 %
|
-4.8 %
|
Ford
|
$54,122
|
$50,878
|
$54,073
|
6.4 %
|
0.1 %
|
GM
|
$53,039
|
$50,582
|
$52,280
|
4.9 %
|
1.5 %
|
Honda
|
$37,793
|
$38,045
|
$37,801
|
-0.7 %
|
0.0 %
|
Hyundai
|
$37,399
|
$37,208
|
$37,540
|
0.5 %
|
-0.4 %
|
Kia
|
$35,064
|
$35,043
|
$34,232
|
0.1 %
|
2.4 %
|
Nissan
|
$36,729
|
$36,349
|
$36,506
|
1.0 %
|
0.6 %
|
Stellantis
|
$56,207
|
$53,425
|
$55,951
|
5.2 %
|
0.5 %
|
Subaru
|
$34,328
|
$35,455
|
$34,803
|
-3.2 %
|
-1.4 %
|
Toyota
|
$42,834
|
$39,335
|
$42,885
|
8.9 %
|
-0.1 %
|
Volkswagen
Group
|
$47,126
|
$47,571
|
$47,424
|
-0.9 %
|
-0.6 %
|
Industry
|
$45,779
|
$44,565
|
$45,486
|
2.7 %
|
0.6 %
|
|
$1,213
|
|
$293
|
|
|
|
|
|
|
|
|
Incentives
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YOY
|
MOM
|
BMW
|
$3,937
|
$1,182
|
$3,636
|
233.1 %
|
8.3 %
|
Daimler
|
$3,014
|
$1,253
|
$2,992
|
140.5 %
|
0.7 %
|
Ford
|
$2,270
|
$1,037
|
$1,800
|
119.0 %
|
26.1 %
|
GM
|
$2,255
|
$1,725
|
$1,959
|
30.7 %
|
15.1 %
|
Honda
|
$1,373
|
$790
|
$1,192
|
73.7 %
|
15.1 %
|
Hyundai
|
$1,597
|
$551
|
$1,427
|
190.1 %
|
11.9 %
|
Kia
|
$1,116
|
$656
|
$958
|
70.1 %
|
16.5 %
|
Nissan
|
$1,787
|
$1,580
|
$1,895
|
13.1 %
|
-5.7 %
|
Stellantis
|
$3,359
|
$1,894
|
$2,848
|
77.4 %
|
17.9 %
|
Subaru
|
$1,090
|
$756
|
$939
|
44.1 %
|
16.0 %
|
Toyota
|
$832
|
$787
|
$808
|
5.8 %
|
3.0 %
|
Volkswagen
Group
|
$2,827
|
$1,137
|
$2,600
|
148.5 %
|
8.7 %
|
Industry
|
$1,931
|
$1,176
|
$1,704
|
64.3 %
|
13.3 %
|
|
$756
|
|
$227
|
|
|
|
|
|
|
|
|
Incentives as % of
ATP
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YOY
|
MOM
|
BMW
|
5.6 %
|
1.8 %
|
5.2 %
|
207.1 %
|
6.9 %
|
Daimler
|
4.0 %
|
1.9 %
|
3.8 %
|
108.3 %
|
5.8 %
|
Ford
|
4.2 %
|
2.0 %
|
3.3 %
|
105.8 %
|
26.0 %
|
GM
|
4.3 %
|
3.4 %
|
3.7 %
|
24.7 %
|
13.5 %
|
Honda
|
3.6 %
|
2.1 %
|
3.2 %
|
74.9 %
|
15.2 %
|
Hyundai
|
4.3 %
|
1.5 %
|
3.8 %
|
188.6 %
|
12.3 %
|
Kia
|
3.2 %
|
1.9 %
|
2.8 %
|
70.0 %
|
13.7 %
|
Nissan
|
4.9 %
|
4.3 %
|
5.2 %
|
11.9 %
|
-6.3 %
|
Stellantis
|
6.0 %
|
3.5 %
|
5.1 %
|
68.6 %
|
17.4 %
|
Subaru
|
3.2 %
|
2.1 %
|
2.7 %
|
48.8 %
|
17.6 %
|
Toyota
|
1.9 %
|
2.0 %
|
1.9 %
|
-2.9 %
|
3.1 %
|
Volkswagen
Group
|
6.0 %
|
2.4 %
|
5.5 %
|
150.9 %
|
9.4 %
|
Industry
|
4.2 %
|
2.6 %
|
3.7 %
|
59.9 %
|
12.6 %
|
|
|
|
|
|
|
Revenue
|
|
|
Manufacturer
|
May 2023
Forecast
|
May 2022
Actual
|
Apr 2023
Actual
|
YOY
|
MOM
|
Industry
|
$63,568,387,218
|
$49,671,624,150
|
$61,703,570,423
|
28.0 %
|
3.0 %
|
(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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multimedia:https://www.prnewswire.com/news-releases/truecar-releases-analysis-of-may-industry-sales-301836863.html
SOURCE TrueCar.com