TrueCar Forecasts July Auto Sales and Incentives Spending
Sales Bounce Back in July After Slow June Causes Concern; Incentive Spending Leveling Off
PR Newswire -- July 27, 2010
SANTA MONICA, Calif., July 27 /PRNewswire/ -- TrueCar.com, the authority on new car pricing, forecasted today that July 2010 light vehicle sales (including fleet) in the U.S. is expected to be 1,042,543 units, an increase of 6% from this time last year and a jump of nearly 5% from June 2010 (on an unadjusted basis). July's forecast translates into a SAAR level of 11.8 million new car sales.
(Logo: http://photos.prnewswire.com/prnh/20100414/LA86246LOGO)
(Logo: http://www.newscom.com/cgi-bin/prnh/20100414/LA86246LOGO)
The industry average incentive spending per unit will be approximately $2,831 in July, which represents a 1% drop from June but a 4% increase from this time last year.
"In terms of SAAR, July is likely to be the best month for vehicle sales since the 'Cash-for-Clunkers' Program fueled August 2009," said Jesse Toprak, VP of Industry Trends and Insight for TrueCar.com. "The fact that retail sales are up despite the flat incentive spending indicates a marked improvement in consumer demand, which offers promise for a more robust second half recovery."
TrueCar.com is reporting the following about sales and incentive spending in July:
Sales Bounce Back in July After Slow June Causes Concern; Incentive Spending Leveling Off
PR Newswire -- July 27, 2010
SANTA MONICA, Calif., July 27 /PRNewswire/ -- TrueCar.com, the authority on new car pricing, forecasted today that July 2010 light vehicle sales (including fleet) in the U.S. is expected to be 1,042,543 units, an increase of 6% from this time last year and a jump of nearly 5% from June 2010 (on an unadjusted basis). July's forecast translates into a SAAR level of 11.8 million new car sales.
(Logo: http://photos.prnewswire.com/prnh/20100414/LA86246LOGO)
(Logo: http://www.newscom.com/cgi-bin/prnh/20100414/LA86246LOGO)
The industry average incentive spending per unit will be approximately $2,831 in July, which represents a 1% drop from June but a 4% increase from this time last year.
"In terms of SAAR, July is likely to be the best month for vehicle sales since the 'Cash-for-Clunkers' Program fueled August 2009," said Jesse Toprak, VP of Industry Trends and Insight for TrueCar.com. "The fact that retail sales are up despite the flat incentive spending indicates a marked improvement in consumer demand, which offers promise for a more robust second half recovery."
TrueCar.com is reporting the following about sales and incentive spending in July:
Advertisements