TrueCar in the news.
Honda Profit Beats Estimates but U.S. Sales Dented
Honda’s average U.S. incentive per vehicle in April-June was $1,941, according to TrueCar – up 11 percent from a year ago and slightly higher than Toyota’s, although below Nissan’s. A Honda spokesman said it was trying to keep incentive levels low for key models such as the Accord and the Civic.
Reuters | July 29, 2014
July 2014 US New Auto Sales Forecast: Record High Auto Lending Pushing US New Car Sales To Highs Unseen Since 2006
Nissan has managed to pull back on incentives the most compared to July 2013. Hyundai and Kia have increased this spending the most since last year. Compared to June, GM has reduced incentive spending while Nissan increased it by the highest sum.
International Business Times | July 29, 2014
Auto Industry’s Pain Could Be Consumers’ Gain
“Most of the sales we’re seeing right now are being driven by organic demand” said TrueCar President John Krafcik.
“If incentive spending keeps increasing, it means dealers and automakers are starting to feel pressure,” said Krafcik. “I still think there’s enough demand to support sales at this pace, but you want to watch incentives.”
NBC News | July 29, 2014
Bigger Incentives by Automakers Juice July Vehicle Sales
Automakers are spending an average of $2,731 per vehicle on incentives this month, up 7.1% from the same month a year earlier, according to TrueCar.com.
“While some of the growth is powered by incentive spending up $200 per vehicle, we are seeing continued strong demand for trucks and utility vehicles,” said John Krafcik, president of TrueCar.
Los Angeles Times | July 28, 2014
US Car Market Showing No Signs of Cooling Down
“July sales are red hot and better than expected, with our forecast up about 10% over last year,” said John Krafcik, president of TrueCar. “While some of the growth is powered by incentive spending (that is) up $200 per vehicle, we are seeing continued strong demand for trucks and utility vehicles.”
The Detroit Bureau | July 28, 2014