- TrueCar (TRUE +0.9%) projects a 9% Y/Y decline in new vehicle industry sales that is estimated to reach 1M units in January. On month-on-month basis, the decline is estimated to be 17.5% from last month.
- Used vehicle sales for the month are expected to reach 2.9M, down 9%.
- Light vehicle sales decline 9% Y/Y to estimated 15.3M.
- Fleet sales projected to be down 5.2% Y/Y and 11.3% sequentially.
- Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 893,077 units, down 10% Y/Y and down 18.3% sequentially.
- The average new vehicle price is to decline about 2% from December after running through a straight nine months of consecutive increases. The decline comes primarily due to slight recovery in supply.
- "Last month we saw industry sales decline 25% year-over-year, this month we are expecting sales to be down 9%. We're cautiously optimistic due to the slight sales increase this month compared to the end of last year along with the small uptick in inventory, however the chip shortage will continue to affect the industry in 2022," says Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar.
- The company expects industry's full year 2022 sales to reach 15.4M units.