MARKET Beatpatrick Manzi, NADA Senior Economist

April 2019 MARKET BEATPatrick Manzi, NADA Senior Economist

U.S. light-vehicle sales continued to fall in April, with a SAAR of 16.43 million—a decline of 4.5% compared to this time last year. Despite a strong March performance, sales through the ﬁrst four months of the year were also down by 2.1%. The crossover segment continues to inch closer to 40% market share and will likely reach that number by year-end as many new crossover models roll into showrooms. With the exception of vans, all light-truck segments gained market share. The total year-to-date market share for light-trucks is just 0.1 percentage point shy of 70% market share. And with many manufacturers trimming their incentive spending in April, J.D. Power reports that average incentive spending per unit declined by $300 per unit compared to April of last year. We expect sales to continue to decline for the year due to increasing transaction prices on new vehicles, post-recession high interest rates and competition from a peaking supply of nearly new off-lease vehicles returning to dealership lots. For 2019, NADA expects sales of 16.8 million new light vehicles.

U.S. Light-Vehicle Sales (Seasonally Adjusted at Annual Rates) Apr 2019 Y/Y Change % Jan - Apr 2019 YTD Change% Total Car 4.79 -10.0% 4.95 -8.3% Total Light Truck 11.64 -2.0% 11.81 0.8% Domestic Light Vehicle 12.72 -3.4% 12.98 -1.0% Import Light Vehicle 3.70 -8.2% 3.78 -5.7% Total Light Vehicle SAAR 16.43 -4.5% 16.76 -2.1%

Market Share, by manufacturer 2.0% 1.8 1.6 1.4

1.2 Other* 1.0 0.8 Hyundai- Kia 0.6 0.4 Subaru BMW Honda FCA 0.2 Ford 0 -0.2 -0.4 VW Daimler Toyota -0.6 Nissan GM -0.8 -1.0 -1.2 -1.4 *Other is Jaquar/Land Rover, Mitsubishi, Mazda, Tesla, Volvo

-1.6 ● Gain ● No change ● Loss -1.8 All ﬁgures are year to date/year-to-date changes. -2.0% 1% 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Percent share of market (also indicated by size of circle)

Market Share, by segment

12.4% 10.6% 1.2% 5.9% Small Car Midsized Car Large Car Luxury Car

16.4% 39.5% 8.6% 5.3% Pickup Crossover SUV Van

Market Share, by powertrain

Gasoline 92.9%

Diesel 2.9% Hybrid 2.0% Electric 1.7% Plug-in hybrid 0.5%

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