{"id":387686,"date":"2020-11-24T09:03:28","date_gmt":"2020-11-24T14:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387686"},"modified":"2020-11-24T09:03:28","modified_gmt":"2020-11-24T14:03:28","slug":"truecar-and-alg-forecast-new-vehicle-retail-sales-rise-for-third-consecutive-month","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/truecar-and-alg-forecast-new-vehicle-retail-sales-rise-for-third-consecutive-month\/","title":{"rendered":"TrueCar and ALG Forecast New Vehicle Retail Sales Rise for Third Consecutive Month"},"content":{"rendered":"

\nAverage Transaction Prices Jump Nearly 5% Year-Over-Year for November 2020
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SANTA MONICA, Calif., Nov. 24, 2020 (GLOBE NEWSWIRE) — TrueCar, Inc. and its ALG, Inc. subsidiary project total new vehicle sales will reach 1,243,630 units in November 2020, down 0.5% from a year ago when adjusted for the same number of selling days. This month\u2019s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 16.4 million units. Excluding fleet sales, TrueCar and ALG expect U.S. retail deliveries of new cars and light trucks to be 1,099,808 units, an increase of 2.9% from a year ago when adjusted for the same number of selling days.<\/p>\n

Average transaction prices (ATP) are projected to be up 4.7% or $1,707 from a year ago and up 2.3% or $838 from October 2020. TrueCar projects that U.S. revenue from new vehicle sales will reach more than $47 billion for November 2020, down 7.9% (based on a non-adjusted daily selling rate) from a year ago and down 6.6% from last month.<\/p>\n

\u201cAs Thanksgiving weekend and Black Friday inch closer, we anticipate the new vehicle sales momentum from the past three months to continue with increases year-over-year for new retail sales,\u201d said Eric Lyman, Chief Industry Analyst for ALG. \u201cWe expect many consumers who have not been financially affected by the pandemic to make their vehicle purchases this month, especially with fewer people traveling this holiday season and with inventory rebounding.\u201d<\/p>\n

\u201cLast year, the average discount on Black Friday was 10.2% off the manufacturer\u2019s suggested retail price and we expect similar deals for this year,\u201d added Lyman.<\/p>\n

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\n Additional Insights:<\/u>
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\n (Forecast by <\/strong>
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\n ALG<\/strong>
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\n TrueCar<\/strong>
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