TrueCar Releases TrueTrends Report for May
Our friends at TrueCar.com recently released the May TrueTrends report, their monthly car buying industry trend report and, as it is jam packed with some fantastic information for new auto buyers, we thought we’d break down some of the more interesting tidbits for you.
According to TrueCar:
- Smart is the top brand for TrueMPG, the company’s monthly measurement of actual miles per gallon of all vehicles sold – by brand – in a given month. The super compact fourtwo models rated a combined 36.2 MPG. The industry average is 22.2 while Land Rover sits at the bottom of the list at 14.1 MPG.
- Scion, Porsche and Hyundai sit atop the TrueCar Brand Performance scorecards with an A+ grade. TrueCar measures brand performance with a combination of discount, price variation, customer loyalty, market share, days in inventory and pricing data. Suzuki, Lincoln and Chrysler brought up the rear, each with a grade of D.
- The 2011 BMW 7-Series has the largest total incentives with $7,500 in customer cash and an additional $2,000 in dealer cash offered to new auto buyers.
- Saturday, May 28 (opening day of the Memorial Day weekend) should be the best day for consumers to buy an auto with a projected discount of more than 8% off of MSRP. The company projected May 16 (a Monday) as the worst day in May and are calling June 13 (a Monday) the worst day in June with the combined projected discount below 6%.
- According to TrueCar’s Days in Inventory data, now may be a good time to look at the BMW Z4, he VW CC and the Hyundai Azera, as all three are sitting on dealer lots an average of 130 days or more. On the flipside, the Lexus CT 200h, Hyundai Elantra and the Ford Explorer are all staying on lots less than 10 days.
TrueCar releases this data on a monthly basis, so we will do our best to cull the best nuggets from the information so you can shop with all of the information you can gather.