SANTA MONICA, Calif. — TrueCar.com, the authority on new car pricing information, trends and forecasting, today provided actual fuel economy numbers from August light vehicle auto sales that indicate TrueMPGTM increased to 23.2 mpg in August 2012 compared to 21.7 mpg in August 2011, and increased from July 2012 at 23.1 mpg. Just four years ago, in August 2008, TrueMPG was 20.3 mpg.
“Relatively higher gas prices and attractive incentives helped improve the market share of small cars and small SUVs, resulting in an improved overall TrueMPG for the industry,” said Jesse Toprak, Vice President of Market Intelligence at TrueCar.com. “Hyundai wins the most improved medal in August in comparison to a year ago with Ford also posting significant gains especially due to higher EcoBoost engine.”
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|
|Manufacturer||August 2012||August 2011||Year over Year Change||August 2012||July 2011||Year over Year Change||August 2012||August 2011||Year over Year Change|
According to TrueCar.com, the TrueMPG for vehicles sold by U.S. manufacturers averaged 21.2 MPG in August 2012, up from 20.1 MPG in August 2011. European manufacturers increased their average fuel economy for vehicles sold from 21.3 MPG to 23.6 MPG; Japanese manufacturers increased their average fuel economy from last year at 23.3 MPG to 24.6 MPG; and South Korean manufacturers increased their average fuel economy for vehicles from 26.2 MPG to 28.1 MPG.
Below is a snapshot of a few vehicle segments and how they compare from August 2012 versus August 2011:
|Average Small Car TrueMPG||Average Midsize Car TrueMPG||Average Large Truck TrueMPG|
|Manufacturer||August 2012||August 2011||Change||August 2012||August 2011||Change||August 2012||August 2011||Change|
TrueMPGTM 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. TrueMPGTM 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.
TrueMPGTM 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 September’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.
This press release and the information contained herein is for noncommercial use on “as-is, as available” basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including without limitation, the implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.