TrueCar and ALG Forecast New and Used Vehicle Sales for September 2020 and the Third Quarter | Money

New vehicle sales continue to recover from April lows forecast as retail sales increase 27% quarter-over-quarter adjusted for selling days Used vehicle sales forecast to be up year-over-year for fourth consecutive monthAverage Transaction Prices are expected to increase 3.5% year-over-year

SANTA MONICA, Calif., Sept. 25, 2020 (GLOBE NEWSWIRE) — TrueCar, Inc., and its ALG, Inc. subsidiary, project total new vehicle sales will reach 1,221,092 units in September 2020, down 12% from a year ago 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 14.8 million units. Excluding fleet sales, TrueCar and ALG expect U.S. retail deliveries of new cars and light trucks to be 1,111,397 units, a decrease of 6% from a year ago when adjusted for the same number of selling days.

Average transaction prices (ATP) are projected to be up 3.5% or $1,223 from a year ago and up 0.4% or $156 from August 2020. TrueCar projects that U.S. revenue from new vehicle sales will reach more than $44 billion for September 2020, down 0.7% (based on a non-adjusted daily selling rate) from a year ago and down 7.1% from last month.

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