June 2012 New Car Sales Expected to Be Highest June Since 2007

Press release from the issuing company

Tuesday, June 26th, 2012

TrueCar.com, the authority on new car pricing, trends and forecasting, today released its June 2012 sales and incentives forecast.  The forecast shows the following:

  • For June 2012, new light vehicle sales in the U.S. (including fleet) is expected to be 1,242,301 units, up 18.1 percent from June 2011 and down 6.9 percent from May 2012 (on an unadjusted basis)
  • The June 2012 forecast translates into a Seasonally Adjusted Annualized Rate (SAAR) of 13.6 million new car sales, up from 11.5 million in June 2011 and down from 13.8 million in May 2012
  • Retail sales are up 15.7 percent compared to June 2011 and down 6.9 percent from May 2012
  • Fleet and rental sales are expected to make up 20.5 percent of total industry sales in June 2012
  • The industry average incentive spending per unit will be approximately $2,432 in June 2012, which represents an increase of 1.5 percent from June 2011 and decrease of 4.8 percent from May 2012
  • Used car sales* are estimated to be 4,774,707, up 6.3 percent from June 2011 and up 10.8 percent from May 2012.  The ratio of new to used is estimated to be 1:4 for June 2012

"The remarkable recovery of Toyota and Honda continued in June," said Jesse Toprak, Vice President of Market Intelligence for TrueCar.com. "Uncertainty in the financial markets brought selling rates below 14 million units for the second month in a row. Despite the relative slow down in the last few weeks, the first half sales results this year indicate a relatively healthy car industry; perhaps the brightest spot in an otherwise struggling U.S. economy. We expect second half of 2012 to average around 14.5 million units, which will take us to over 15 million new cars sold in 2013.

"Average incentive spending for all automakers will hit its lowest levels this month since last year in the months following the natural disasters in Japan and prior to that since January 2007," said Kristen Andersson, Senior Analyst at TrueCar.com. "Toyota will post strong retail sales this month while decreasing incentive spending as consumers continue to snap up the popular Camry, Corolla, and Prius."

Forecasts for the top eight manufacturers for June 2012:

Unit Sales

Manufacturer

June 2012 Forecast

% Change vs. May 2012

% Change vs. June 2011

Chrysler

139,629

-6.9%

16.0%

Ford

194,030

-10.0%

0.3%

GM

228,242

-6.9%

6.0%

Honda

126,427

-5.6%

50.7%

Hyundai/Kia

105,172

-11.5%

0.9%

Nissan

88,956

-3.1%

23.7%

Toyota

186,217

-8.3%

67.9%

Volkswagen

48,359

-3.6%

25.6%

Industry

1,242,301

-6.9%

18.1%

 

Market Share

Manufacturer

June 2012 Forecast

May 2012

June 2011

Chrysler

10.9%

10.9%

11.3%

Ford

15.6%

16.2%

18.4%

GM

18.4%

18.4%

20.5%

Honda

10.2%

10.0%

8.0%

Hyundai/Kia

8.5%

8.9%

9.9%

Nissan

7.2%

6.9%

6.8%

Toyota

15.0%

15.2%

10.5%

Volkswagen

0.9%

0.9%

1.0%

 

Incentive Spending

Manufacturer  

June 2012 
Incentives

% Change vs. May 2012

% Change vs. June 2011

Total Spending

Chrysler

$3,192

2.8%

4.7%

$445,670,305

Ford

$2,489

-6.1%

-5.8%

$483,016,356

GM

$3,014

-10.5%

2.3%

$687,934,932

Honda

$2,314

-1.6%

31.0%

$292,568,128

Hyundai/Kia

$1,253

0.9%

-8.2%

$131,769,746

Nissan

$2,645

-4.4%

19.5%

$235,320,792

Toyota

$1,699

-13.7%

-10.2%

$316,418,922

Volkswagen

$2,485

-2.9%

22.1%

$120,194,078

Industry

$2,432

-4.8%

1.5%

$3,021,425,152