TrueCar Projects Automaker Revenue to Reach $49 Billion in August - Business Wire (press release)
economy and auto industry continue to benefit from the best fundamentals in over a decade, and brisk consumer demand for premium and utility vehicles remains steady. TrueCar estimates the average transaction price (ATP) for a new light vehicle in August is $31,825, up 0. 7 percent over a year ago, while average incentive spending per unit grew $79 to $3,066. The ratio of incentive spending to ATP was 9. 6... “The auto market remains healthy and ATP in August should hit a monthly record,” said TrueCar Executive Vice President Larry Dominique, who also runs TrueCar’s ALG unit. Despite the revenue growth, TrueCar estimates retail sales of new vehicles will decline 3 percent this month, with total industry deliveries, including fleet sales, down 2. 9 percent. The Seasonally Adjusted Annual Rate (SAAR) should reach 17. 4 million units, keeping the industry on pace to reach 17. 2 million sales this year, the highest volume since 2000. On the TrueCar platform, compact utilities remain very popular among... “Data over the last decade show Prius sales and gas prices are highly correlated,” said Eric Lyman, TrueCar’s vice president of industry insights. Source: www.businesswire.com
