SANTA MONICA, Calif. — TrueCar.com, the authority on new car pricing, trends and forecasting, today provided actual economy numbers from new car sales indicating TrueMPG(TM) will increase to 22.2 mpg in 2011 compared to 21.7 mpg in 2010.
In December 2011, light vehicle auto sales show TrueMPG(TM) increased to 22.2 mpg from 21.7 mpg in December 2010, and decreased from November 2011 at 22.3 mpg.
“Automakers understand that fuel economy is an important value proposition for consumers,” said Jesse Toprak, Vice President of Industry Trends and Insights at TrueCar.com. “It may seem insignificant, but an increase of a half a mile per gallon in fuel economy translates to a reduction in fuel consumption of 214 million gallons or a savings of about $722 million in fuel annually in the U.S.”
Below is how the top seven manufacturers fared in 2011 comparing overall mpg, broken out by car and truck mpg:
|Average TrueMPG||Average Car TrueMPG||Average Truck TrueMPG|
According to TrueCar.com, the TrueMPG(TM) for vehicles sold by U.S. manufacturers averaged 20.6 mpg in 2011, up from 20.1 mpg in 2010. European manufacturers increased their average fuel economy for vehicles sold from 21.0 mpg to 21.9 mpg; Japanese manufacturers increased their average fuel economy from last year at 23.2 mpg to 23.7 mpg; and South Korean manufacturers increased their average fuel economy for vehicles from 25.3 mpg to 26.6 mpg.
Below is a snapshot of a few vehicle segments and how they compare from 2011 versus 2010:
|Average Small Car TrueMPG||Average Midsize Car TrueMPG||Average Large Truck TrueMPG|
TrueMPG(TM) is an easy-to-understand and objective way to comprehend monthly fuel economy averages by brand, manufacturer, origin and vehicle segments using Environmental Protection Agency (EPA) ratings based on estimated and/or actual monthly automotive sales-weighted data. TrueCar.com is seeking to provide transparency and truth in average fuel economy, providing an alternative view to Corporate Average Fuel Economy (CAFE) ratings that can be confusing and misleading. TrueMPG(TM) helps keep in perspective what each manufacturer’s average miles per gallon per car sold using EPA’s window sticker.
TrueMPG(TM) computes monthly average fuel economy by brand, manufacturer, origin and vehicle segments by using actual sales data or forecasted sales data for the current month. Calculations start at the trim level, taking into account EPA fuel economy data including engine size and drivetrain that affect a vehicle’s MPG ratings; the sales share from each trim level is then calculated to create an average for each model. Brand level data is calculated by the sales share of each model and the manufacturer data is then based on the share of each brand, providing an accurate and completely data driven picture of actual measured MPGs in the market place. TrueCar utilizes EPA’s average fuel economy rating using 45 percent highway and 55 percent city driving behavior.
About TrueCar, Inc.
TrueCar, Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners gain incremental market share and reduce costs. TrueCar is a transparent, visual publisher of new car transaction data. TrueCar price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally. TrueCar works with a national network of Certified Dealers that provide up-front, no-haggle, competitive pricing to assist some of the nation’s largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers. Collectively, these audiences represent over 1M in-market customers each month. TrueCar is headquartered in Santa Monica, CA and has offices in San Francisco. The company was founded in 2005 and has been profitable since 2009. With 131 percent annual growth since 2006, TrueCar has helped dealers sell over 400,000 vehicles and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information.
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