TrueCar, the most efficient online platform to find a car, (NASDAQ: TRUE) and its data and analytics subsidiary, ALG, project total new vehicle sales will reach 1,373,516 units in February 2020, up 0.2% 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 17.1 million units. Excluding fleet sales, ALG expects U.S. retail deliveries of new cars and light trucks to be 1,081,996 units, an increase of 1.2% from a year ago when adjusted for the same number of selling days.
“Although consumer confidence is stable and economic fundamentals remain strong, consumers are still receiving a lot of mixed messages about the economy,” said Eric Lyman, Chief Industry Analyst at ALG, a subsidiary of TrueCar. “The fact that we’re in an election year, the Coronavirus is starting to have a global impact and that we’re beyond the normal cycle for a recession all combine to create a sense of uncertainty.”
February 2020 is a leap year and we’re highlighting a few brands that have leaped forward in the past four years:
- Mainstream brands Kia and Hyundai have come a long way with elevated lineups. Both brands were previously associated with value-driven cars and now have progressed in the mainstream space with their upscale SUVs, the Hyundai Palisade and Kia Telluride. Both vehicles are successful SUVs on the TrueCar platform with the Kia Telluride winning ALG’s 2020 Design Innovation Award.
- Subaru has made great strides in the past four years with a measured approach to production that limited over-production. They have also benefited from consumer demand moving towards the styling and functionality that their products historically provide. On the TrueCar platform, Subaru’s inventory is up 34% and the Crosstrek is the #1 selling subcompact SUV since January.
- In the luxury segment, Volvo has proven itself as a prominent player over the past four years. With a cohesive lineup of premium, design forward vehicles, Volvo is back at the top of the consideration list for luxury brand consumers.
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SOURCE: TrueCar
