SANTA MONICA, Calif. — TrueCar.com, the authority on new car pricing information, trends and forecasting, today provided actual fuel economy numbers from June light vehicle auto sales that indicate TrueMPG™ increased to 23.1 mpg in July 2012 compared to 21.6 mpg in July 2011, and increased from May 2012 at 23.0 mpg. Just four years ago, in May 2008, TrueMPG was 21.2 mpg.
“There is a very strong correlation, nearly 71 percent, between TrueMPG and average gas prices since January of 2010, indicating that the prices at the pump influence consumer preferences,” said Jesse Toprak, Vice President of Market Intelligence at TrueCar.com. “Manufacturers have been responding by offering a larger mix of smaller vehicles and improving efficiencies on their existing larger vehicle engines, as evidenced by the significant improvement in TrueMPG in the recent years.”
Below is how the top seven manufacturers fared comparing overall mpg, broken out by car and truck mpg:
|Average TrueMPG||Average Car TrueMPG||Average Truck TrueMPG|
According to TrueCar.com, the TrueMPG for vehicles sold by U.S. manufacturers averaged 21.0 MPG in July 2012, up from 20.2 MPG in July 2011. European manufacturers increased their average fuel economy for vehicles sold from 21.3 MPG to 23.7 MPG; Japanese manufacturers increased their average fuel economy from last year at 23.0 MPG to 24.4 MPG; and South Korean manufacturers increased their average fuel economy for vehicles from 24.6 MPG to 27.8 MPG.
Below is a snapshot of a few vehicle segments and how they compare from July 2012 versus July 2011:
|Average Small Car TrueMPG||Average Midsize Car TrueMPG||Average Large Truck TrueMPG|
TrueMPG™ 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 seeks 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™ helps keep in perspective what each manufacturer’s average miles per gallon per car sold, computed monthly and annually, by using the EPA’s window sticker ratings.
TrueMPG™ 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 the EPA’s average fuel economy rating using 45 percent highway and 55 percent city driving behavior.
For additional data on TrueMPG by brand, manufacturer, origin and vehicle segment, please visit the TrueCar Truth Blog. The TrueMPG data will be released in August’s TrueCar.com TrueTrends report. You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.
About TrueCar, Inc.
TrueCar, Inc. is an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers. Consumers want a hassle-free car buying experience and dealers want high-quality sales velocity. TrueCar helps achieve these goals by providing unbiased market information on new car transactions and by supplying an online communications platform through which dealers and consumers can communicate with each other. TrueCar’s market-based information provides both consumers and dealers with an accurate and comprehensive understanding of what others actually paid recently for similar vehicles, both locally and nationally. TrueCar’s communications platform then allows informed, ready-to-buy consumers to communicate directly with participating dealers. Some of the nation’s largest and most well respected membership and service organizations rely on websites powered by TrueCar to help educate their members and customers who are in the automotive market. TrueCar is headquartered in Santa Monica, CA, and has offices in San Francisco, CA, and Austin, TX. After experiencing dramatic growth since 2006, TrueCar is developing a suite of products and services centered on radical clarity through the comprehensive analysis of market data and information. TrueCar’s participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide.
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