ALG, Inc., a subsidiary of TrueCar, Inc. and the industry benchmark for determining the future resale value of a vehicle, projects total new vehicle sales will reach 1,189,928 units in July 2020, down 18% 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 million units. Excluding fleet sales, ALG expects U.S. retail deliveries of new cars and light trucks to be 1,091,152 units, a decrease of 15% from a year ago when adjusted for the same number of selling days.
“The increase in COVID-19 cases across the country have caused states such as Texas, Florida and California to take steps back in their economic re-openings. Despite this trend, we are not seeing automotive sales drop as low as they did in the spring at a national level.” said Eric Lyman, Chief Industry Analyst for ALG, a subsidiary of TrueCar. “In fact, even with the low new vehicle inventory levels that we are noticing across many popular models, we’re seeing sales continue to bounce back,” said Eric Lyman, Chief Industry Analyst for ALG, a subsidiary of TrueCar.
“There’s finally some positive signs for automakers on the fleet side of the house,” added Lyman. “Fleet sales were down nearly 70 percent year-over-year last month, while this month we’re projecting the decline will slow to 40 percent with a 17 percent uptick month over month,” added Lyman.
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SOURCE: TrueCar
