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Tuesday, 23 November 2021 19:55

TrueCar Forecasts Increased New-Vehicle Sales Pace for November as Inventory Starts to Rebound

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TrueCar, Inc. forecasts total new vehicle sales will reach 1,073,042 units in November, down 15% from a year ago and up 14% vs. October, 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 13.7 million, down 12% from November 2020.

 

Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 971,021 units, down 16% from a year ago and up 16% from October.

 

"We continue to see small signs of new vehicle inventory levels rebuilding on dealer lots," said Nick Woolard, lead industry analyst at TrueCar. "However, demand remains strong and continues to push new transaction prices to record levels. Average incentive levels for November are expected to be $1,895 which would be the lowest since 2005 according to Motor Intelligence historical data."

 

"As expected, we are seeing stronger sales performance for those brands that ramped up production levels in recent months," said Valeri Tompkins, senior vice president of OEM solutions at TrueCar. "Ford in particular is one of the few brands showing gains vs. last year. This is largely driven by new products such as Bronco and Bronco Sport."

 

Additional insights forecast by TrueCar:

 

  • Total sales for November are expected to be down 15% from a year ago and up 14% from October when adjusted for the same number of selling days.
  • Fleet sales for November are expected to be down 13% from a year ago and down 1% from October when adjusted for the same number of selling days.
  • Incentive spend is down 50% from last year.
  • Average transaction price is projected to be...

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