TrueCar Forecasts Third Consecutive Month of Slowing Vehicle Sales for July 2021
SANTA MONICA, Calif., July 29, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, forecasts total new vehicle sales will reach 1,292,064 units in July 2021, up just 1% from a year ago but down 8% vs. June 2021, when adjusted for the same number of selling days. This month's seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 14.7 million, staying on par with July 2020. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,171,277 units, about even with a year ago and a decrease of 7% from June 2021.
"In July we expect to see things continue to cool since the recent new vehicle sales peak in April. Despite cooling from recent months, many brands still show improvement compared to 2020. Volkswagen in particular is looking strong in July, propelled in part by the all-new Taos and ID.4 which are resonating well with buyers," said Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar.
Additional Insights (forecast by TrueCar):
(Note: This forecast is based solely on TrueCar, Inc.'s analysis of industry sales trends and conditions and is not a projection of TrueCar, Inc.'s operations.)
TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings, and market context on new and used cars – all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency, and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam's Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas.
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SOURCE TrueCar, Inc.
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