{"id":405786,"date":"2020-12-28T09:03:20","date_gmt":"2020-12-28T14:03:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405786"},"modified":"2020-12-28T09:03:20","modified_gmt":"2020-12-28T14:03:20","slug":"truecar-forecasts-industry-retail-sales-soar-34-for-the-4th-quarter","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/truecar-forecasts-industry-retail-sales-soar-34-for-the-4th-quarter\/","title":{"rendered":"TrueCar Forecasts Industry Retail Sales Soar 34% for the 4th Quarter"},"content":{"rendered":"

\nAverage Transaction Price Hits All-Time Record
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SANTA MONICA, Calif., Dec. 28, 2020 (GLOBE NEWSWIRE) — TrueCar<\/a>, Inc<\/a>. projects that\u00a0\ufefftotal retail sales for Q4 are expected to be up 0.6% from last year when adjusted for the same number of selling days and up 34.2% from Q3 when adjusted for the same number of selling days.<\/p>\n

Total new vehicle sales will reach 1,605,101 units in December 2020, down 6.5% 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 16.2 million units. Excluding fleet sales, TrueCar expects US retail deliveries of new cars and light trucks to be 1,428,094 units, a decrease of 2.2% from a year ago, when adjusted for the same number of selling days.<\/p>\n

Average transaction price (ATP) is projected to be up 5.3% or $1,950 from a year ago and up 2.6% or $988 from November 2020, setting an all-time record as the figure ticks closer to $40,000. TrueCar projects that US revenue from new vehicle sales will reach more than $62 billion for December 2020, up 10.2% (based on a non-adjusted daily selling rate) from a year ago and up 35.6% from last month.<\/p>\n

\u201cIn the final days of 2020, we can finally look in the rearview mirror and appreciate the tremendous recovery that the automotive industry has made since the pandemic derailed auto sales in March. Retail vehicle sales have nearly reached normal levels with sales down only 2.2% from last year, which is a truly impressive outcome,\u201d said\u00a0Nick Woolard,\u00a0Director of OEM Analytics at\u00a0TrueCar. \u201cThe momentum from a strong third quarter carried into the fourth quarter and solidified the industry\u2019s comeback. Production and inventory have gone back up in the fourth quarter and, as a result, retail sales are up 34% quarter-over-quarter.\u201d<\/p>\n

Total new vehicle sales are forecasted to reach 14.6M, down 15% year-over-year for 2020 and new vehicle retail sales are forecasted to reach 12.7M, down 8% compared with 2019. Used vehicle sales are forecasted to reach 38.4M for 2020, down 6% year-over-year.<\/p>\n

\n Insights from TrueCar\u2019s end-of-year forecast by brand: <\/strong>\n <\/p>\n