SANTA MONICA, California
,
March 31, 2022
(press release)
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EV and hybrid vehicle demand skyrockets amid surging fuel prices 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 1,246,993 units in March 2022, down 25% from a year ago and up 5% from February 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 13.6 million, down 23% from March 2021. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,084,168 units, down 24% from a year ago and up 2% from February 2022. "Over the last month we've seen a huge spike in electric vehicle and hybrid prospects on the TrueCar site, with a 380% increase year-over-year for EVs and a 180% jump year-over-year for hybrids," said Nick Woolard, Lead Industry Analyst at TrueCar. "This is the largest monthly jump we've ever seen and understandably so with current fuel prices." "This month in spite of low inventory, we're seeing mild fleet recovery as we head into the summer season," said Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar. Additional Industry Insights (from TrueCar): Total Unit Sales Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YoY % Change YoY % Change MoM % Change MoM % Change BMW 24,275 31,888 26,074 -23.9% -26.7% -6.9% -17.2% Daimler 20,384 24,651 19,237 -17.3% -20.4% 6.0% -5.8% Ford 154,405 213,300 128,229 -27.6% -30.3% 20.4% 7.0% GM 205,018 245,606 161,705 -16.5% -19.6% 26.8% 12.7% Honda 103,045 148,538 84,394 -30.6% -33.2% 22.1% 8.5% Hyundai 69,504 78,409 55,906 -11.4% -14.6% 24.3% 10.5% Kia 62,609 66,523 49,182 -5.9% -9.4% 27.3% 13.2% Nissan 75,308 128,334 61,674 -41.3% -43.5% 22.1% 8.5% Stellantis 153,375 183,333 136,580 -16.3% -19.4% 12.3% -0.2% Subaru 47,605 65,726 44,866 -27.6% -30.3% 6.1% -5.7% Tesla 44,525 23,050 42,742 93.2% 86.0% 4.2% -7.4% Toyota 179,919 256,485 160,645 -29.9% -32.5% 12.0% -0.4% Volkswagen Group 39,159 70,276 36,355 -44.3% -46.3% 7.7% -4.3% Industry 1,246,993 1,604,983 1,057,945 -22.3% -25.2% 17.9% 4.8% Retail Unit Sales Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YoY % Change YoY % Change MoM % Change MoM % Change BMW 23,710 30,576 25,623 -22.5% -25.3% -7.5% -17.7% Daimler 19,338 23,903 18,843 -19.1% -22.1% 2.6% -8.8% Ford 115,884 166,090 104,219 -30.2% -32.8% 11.2% -1.2% GM 157,090 215,813 140,659 -27.2% -29.9% 11.7% -0.7% Honda 102,017 145,541 84,040 -29.9% -32.5% 21.4% 7.9% Hyundai 69,399 68,605 55,320 1.2% -2.6% 25.5% 11.5% Kia 58,517 55,144 47,352 6.1% 2.2% 23.6% 9.8% Nissan 66,004 85,771 50,977 -23.0% -25.9% 29.5% 15.1% Stellantis 117,910 157,102 114,162 -24.9% -27.7% 3.3% -8.2% Subaru 46,351 63,925 43,193 -27.5% -30.2% 7.3% -4.6% Tesla 44,174 23,050 42,727 91.6% 84.5% 3.4% -8.1% Toyota 164,823 226,277 141,838 -27.2% -29.9% 16.2% 3.3% Volkswagen Group 38,370 62,461 35,820 -38.6% -40.8% 7.1% -4.8% Industry 1,084,168 1,380,536 947,445 -21.5% -24.4% 14.4% 1.7% Fleet Unit Sales Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YoY % Change YoY % Change MoM % Change MoM % Change BMW 565 1,312 451 -56.9% -58.5% 25.4% 11.5% Daimler 1,046 748 394 39.9% 34.7% 165.8% 136.3% Ford 38,521 47,210 24,010 -18.4% -21.4% 60.4% 42.6% GM 47,928 29,793 21,046 60.9% 54.9% 127.7% 102.4% Honda 1,028 2,997 354 -65.7% -67.0% 190.7% 158.4% Hyundai 105 9,804 586 -98.9% -99.0% -82.1% -84.1% Kia 4,092 11,379 1,830 -64.0% -65.4% 123.6% 98.8% Nissan 9,304 42,563 10,697 -78.1% -79.0% -13.0% -22.7% Stellantis 35,465 26,231 22,418 35.2% 30.2% 58.2% 40.6% Subaru 1,254 1,801 1,673 -30.4% -33.0% -25.0% -33.4% Tesla 351 - 15 2308.7% 2041.0% Toyota 15,096 30,208 18,807 -50.0% -51.9% -19.7% -28.7% Volkswagen Group 789 7,815 535 -89.9% -90.3% 47.4% 31.0% Industry 162,826 224,447 110,500 -27.5% -30.1% 47.4% 31.0% Fleet Penetration Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YoY % Change MoM % Change BMW 2.3% 4.1% 1.7% -43.4% 34.7% Daimler 5.1% 3.0% 2.0% 69.2% 150.9% Ford 24.9% 22.1% 18.7% 12.7% 33.2% GM 23.4% 12.1% 13.0% 92.7% 79.6% Honda 1.0% 2.0% 0.4% -50.6% 138.1% Hyundai 0.2% 12.5% 1.0% -98.8% -85.6% Kia 6.5% 17.1% 3.7% -61.8% 75.7% Nissan 12.4% 33.2% 17.3% -62.7% -28.8% Stellantis 23.1% 14.3% 16.4% 61.6% 40.9% Subaru 2.6% 2.7% 3.7% -3.9% -29.3% Tesla 0.8% 0.0% 0.0% 2212.2% Toyota 8.4% 11.8% 11.7% -28.8% -28.3% Volkswagen Group 2.0% 11.1% 1.5% -81.9% 36.8% Industry 13.1% 14.0% 10.4% -6.6% 25.0% Total Market Share Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual BMW 1.9% 2.0% 2.5% Daimler 1.6% 1.5% 1.8% Ford 12.4% 13.3% 12.1% GM 16.4% 15.3% 15.3% Honda 8.3% 9.3% 8.0% Hyundai 5.6% 4.9% 5.3% Kia 5.0% 4.1% 4.6% Nissan 6.0% 8.0% 5.8% Stellantis 12.3% 11.4% 12.9% Subaru 3.8% 4.1% 4.2% Tesla 3.6% 1.4% 4.0% Toyota 14.4% 16.0% 15.2% Volkswagen Group 3.1% 4.4% 3.4% 94.6% 95.7% 95.2% Retail Market Share Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual BMW 2.2% 2.2% 2.7% Daimler 1.8% 1.7% 2.0% Ford 10.7% 12.0% 11.0% GM 14.5% 15.6% 14.8% Honda 9.4% 10.5% 8.9% Hyundai 6.4% 5.0% 5.8% Kia 5.4% 4.0% 5.0% Nissan 6.1% 6.2% 5.4% Stellantis 10.9% 11.4% 12.0% Subaru 4.3% 4.6% 4.6% Tesla 4.1% 1.7% 4.5% Toyota 15.2% 16.4% 15.0% Volkswagen Group 3.5% 4.5% 3.8% 94.4% 95.9% 95.5% ATP Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YOY MOM BMW $66,225 $60,360 $62,852 9.7% 5.4% Daimler $70,685 $62,111 $73,946 13.8% -4.4% Ford $47,621 $45,155 $48,294 5.5% -1.4% GM $49,878 $43,134 $51,105 15.6% -2.4% Honda $37,585 $31,938 $37,017 17.7% 1.5% Hyundai $36,133 $29,739 $36,767 21.5% -1.7% Kia $34,346 $29,387 $33,163 16.9% 3.6% Nissan $33,032 $28,741 $32,546 14.9% 1.5% Stellantis $53,320 $44,135 $52,515 20.8% 1.5% Subaru $34,516 $30,894 $34,334 11.7% 0.5% Toyota $40,431 $34,980 $39,992 15.6% 1.1% Volkswagen Group $46,153 $43,549 $46,598 6.0% -1.0% Industry $43,462 $37,676 $43,879 15.4% -1.0% $5,786 -$417 Incentives Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YOY MOM BMW $2,237 $4,997 $2,582 -55.2% -13.3% Daimler $2,053 $4,221 $2,243 -51.4% -8.5% Ford $1,687 $3,034 $1,748 -44.4% -3.5% GM $1,888 $4,836 $1,963 -61.0% -3.8% Honda $1,109 $2,382 $1,159 -53.5% -4.3% Hyundai $1,070 $2,541 $950 -57.9% 12.6% Kia $1,140 $2,817 $1,239 -59.5% -8.0% Nissan $1,550 $3,331 $1,789 -53.5% -13.4% Stellantis $2,574 $4,640 $2,570 -44.5% 0.1% Subaru $837 $1,275 $856 -34.3% -2.2% Toyota $981 $2,774 $1,058 -64.6% -7.3% Volkswagen Group $2,061 $4,001 $1,874 -48.5% 9.9% Industry $1,581 $3,424 $1,657 -53.8% -4.6% -$1,843 -$76 Incentives as % of ATP Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YOY MOM BMW 3.4% 8.3% 4.1% -59.2% -17.7% Daimler 2.9% 6.8% 3.0% -57.3% -4.2% Ford 3.5% 6.7% 3.6% -47.3% -2.1% GM 3.8% 11.2% 3.8% -66.2% -1.5% Honda 3.0% 7.5% 3.1% -60.4% -5.7% Hyundai 3.0% 8.5% 2.6% -65.4% 14.6% Kia 3.3% 9.6% 3.7% -65.4% -11.2% Nissan 4.7% 11.6% 5.5% -59.5% -14.6% Stellantis 4.8% 10.5% 4.9% -54.1% -1.4% Subaru 2.4% 4.1% 2.5% -41.2% -2.7% Toyota 2.4% 7.9% 2.6% -69.4% -8.3% Volkswagen Group 4.5% 9.2% 4.0% -51.4% 11.0% Industry 3.6% 9.1% 3.8% -60.0% -3.7% Revenue Manufacturer Mar 2022 Forecast Mar 2021 Actual Feb 2022 Actual YOY MOM Industry $54,197,050,283 $60,469,364,982 $46,421,894,319 -10.4% 16.7% Quarterly Tables Total Unit Sales Manufacturer Q1 2022 Q1 2021 Q4 2021 YoY % Change YoY % Change QoQ % Change QoQ % Change BMW 74,304 77,718 100,891 -4.4% -5.7% -26.4% -23.4% Daimler 60,021 70,236 77,114 -14.5% -15.7% -22.2% -19.1% Ford 425,079 517,711 504,138 -17.9% -19.0% -15.7% -12.3% GM 509,297 639,406 436,776 -20.3% -21.4% 16.6% 21.3% Honda 261,388 347,091 287,206 -24.7% -25.7% -9.0% -5.3% Hyundai 176,920 175,352 167,747 0.9% -0.5% 5.5% 9.7% Kia 154,279 159,550 145,891 -3.3% -4.6% 5.7% 10.0% Nissan 196,724 285,553 195,433 -31.1% -32.0% 0.7% 4.7% Stellantis 416,733 471,931 410,857 -11.7% -12.9% 1.4% 5.5% Subaru 136,629 160,426 121,008 -14.8% -16.0% 12.9% 17.4% Tesla 127,432 69,300 108,370 83.9% 81.4% 17.6% 22.3% Toyota 499,240 608,670 474,656 -18.0% -19.1% 5.2% 9.4% Volkswagen Group 113,249 161,510 133,934 -29.9% -30.8% -15.4% -12.1% Industry 3,306,944 3,910,569 3,298,307 -15.4% -16.6% 0.3% 4.3% Retail Unit Sales Manufacturer Q1 2022 Q1 2021 Q4 2021 YoY % Change YoY % Change QoQ % Change QoQ % Change BMW 72,574 72,722 96,537 -0.2% -1.5% -24.8% -21.8% Daimler 56,940 67,742 72,398 -15.9% -17.1% -21.4% -18.2% Ford 319,031 398,553 403,030 -20.0% -21.0% -20.8% -17.7% GM 390,236 537,787 381,117 -27.4% -28.4% 2.4% 6.5% Honda 258,781 342,231 285,047 -24.4% -25.4% -9.2% -5.6% Hyundai 176,652 160,868 164,726 9.8% 8.3% 7.2% 11.5% Kia 144,196 135,437 138,541 6.5% 5.0% 4.1% 8.2% Nissan 172,419 198,754 167,164 -13.2% -14.4% 3.1% 7.3% Stellantis 320,372 385,913 345,269 -17.0% -18.1% -7.2% -3.5% Subaru 133,030 152,878 117,668 -13.0% -14.1% 13.1% 17.6% Tesla 126,427 68,866 104,893 83.6% 81.1% 20.5% 25.4% Toyota 457,351 537,958 440,175 -15.0% -16.1% 3.9% 8.1% Volkswagen Group 110,967 144,664 130,333 -23.3% -24.3% -14.9% -11.5% Industry 2,875,141 3,337,891 2,966,034 -13.9% -15.0% -3.1% 0.8% Total Market Share Manufacturer Q1 2022 Q1 2021 Q4 2021 BMW 2.2% 2.0% 3.1% Daimler 1.8% 1.8% 2.3% Ford 12.9% 13.2% 15.3% GM 15.4% 16.4% 13.2% Honda 7.9% 8.9% 8.7% Hyundai 5.3% 4.5% 5.1% Kia 4.7% 4.1% 4.4% Nissan 5.9% 7.3% 5.9% Stellantis 12.6% 12.1% 12.5% Subaru 4.1% 4.1% 3.7% Tesla 3.9% 1.8% 3.3% Toyota 15.1% 15.6% 14.4% Volkswagen Group 3.4% 4.1% 4.1% 95.3% 95.8% 95.9% Retail Market Share Manufacturer Q1 2022 Q1 2021 Q4 2021 BMW 2.5% 2.2% 3.3% Daimler 2.0% 2.0% 2.4% Ford 11.1% 11.9% 13.6% GM 13.6% 16.1% 12.8% Honda 9.0% 10.3% 9.6% Hyundai 6.1% 4.8% 5.6% Kia 5.0% 4.1% 4.7% Nissan 6.0% 6.0% 5.6% Stellantis 11.1% 11.6% 11.6% Subaru 4.6% 4.6% 4.0% Tesla 4.4% 2.1% 3.5% Toyota 15.9% 16.1% 14.8% Volkswagen Group 3.9% 4.3% 4.4% 95.3% 96.0% 96.0% ATP Manufacturer Q1 2022 Q1 2021 Q4 2021 YoY % Change QoQ % Change BMW $63,812 $59,439 $60,025 7.4% 6.3% Daimler $73,238 $62,877 $66,338 16.5% 10.4% Ford $48,236 $44,997 $47,358 7.2% 1.9% GM $50,717 $42,982 $51,728 18.0% -2.0% Honda $36,451 $31,144 $33,309 17.0% 9.4% Hyundai $36,173 $30,726 $34,533 17.7% 4.7% Kia $33,845 $29,355 $30,886 15.3% 9.6% Nissan $33,223 $28,886 $33,030 15.0% 0.6% Stellantis $52,707 $43,517 $50,204 21.1% 5.0% Subaru $34,709 $30,955 $32,720 12.1% 6.1% Toyota $40,077 $35,389 $38,452 13.2% 4.2% Volkswagen Group $46,358 $42,327 $41,563 9.5% 11.5% Industry $43,841 $37,872 $42,366 15.8% 3.5% $5,969 $1,475 Incentives Manufacturer Q1 2022 Q1 2021 Q4 2021 YoY % Change QoQ % Change BMW $2,538 $5,124 $3,010 -50.5% -15.7% Daimler $2,129 $4,060 $2,428 -47.5% -12.3% Ford $1,869 $3,217 $2,377 -41.9% -21.4% GM $1,965 $4,653 $1,916 -57.8% 2.6% Honda $1,172 $2,357 $1,515 -50.3% -22.7% Hyundai $1,049 $2,379 $1,176 -55.9% -10.8% Kia $1,373 $2,734 $1,754 -49.8% -21.8% Nissan $1,782 $3,598 $2,010 -50.5% -11.3% Stellantis $2,548 $4,630 $2,377 -45.0% 7.2% Subaru $892 $1,302 $1,032 -31.5% -13.6% Toyota $1,060 $2,644 $1,258 -59.9% -15.8% Volkswagen Group $1,964 $3,813 $2,103 -48.5% -6.6% Industry $1,680 $3,428 $1,894 -51.0% -11.3% -$1,748 -$214 (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 For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. SOURCE TrueCar.com
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