From the Wires
Average Fuel Economy for New Cars Sold Increased by Nearly One MPG in 2012 According to TrueCar's TrueMPG
TrueMPG increased 0.8 MPG in 2012; Reduction in Fuel Consumption of 348 Million Gallons or $1.2 Billion in Fuel Annually; December TrueMPG Increased 0.4 MPG From Last Year
By: PR Newswire
Jan. 9, 2013 01:52 PM
SANTA MONICA, Calif., Jan. 9, 2013 /PRNewswire/ -- TrueCar, the authority on new car pricing information, trends and forecasting, today provided actual economy numbers from new car sales indicating TrueMPG™ increased to 23.1 mpg in 2012 compared to 22.3 mpg in 2011. In December 2012, light vehicle auto sales show TrueMPG™ increased to 23.0 mpg from 22.6 mpg in December 2011, and decreased from November 2012 at 23.2 mpg.
"Consumers' never ending appetite for more fuel efficient vehicles continued to propel manufacturers to further improve their MPG figures in 2012 with a wider selection of smaller vehicles and less fuel-thirsty powertrains," said Jesse Toprak, Senior Analyst for TrueCar. "An increase of 0.8 miles per gallon in fuel economy translates into a reduction in fuel consumption of 348 million gallons or a savings of about $1.2 billion in fuel annually in the US."
Below is how the top eight manufacturers fared in 2012 versus 2011 with comparing overall mpg, broken out by car and truck mpg:
Below is how the top eight manufacturers fared in December 2012 versus December 2011 comparing overall mpg, broken out by car and truck mpg:
According to TrueCar.com, the TrueMPG™ for vehicles sold by U.S. manufacturers averaged 21.2 mpg in 2012, up from 20.7 mpg in 2011. European manufacturers increased their average fuel economy for vehicles sold from 22.1 mpg to 23.3 mpg; Japanese manufacturers increased their average fuel economy from last year at 23.7 mpg to 24.8 mpg; and South Korean manufacturers increased their average fuel economy for vehicles from 26.3 mpg to 27.1 mpg.
Below is a snapshot of a few vehicle segments and how they compare from 2012 with 2011:
Below is a snapshot of a few vehicle segments and how they compare from December 2012 with December 2011
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 and 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 each manufacturer's average miles per gallon per car sold, computing it monthly and annually, 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 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 January's TrueCar.com TrueTrends report. You can follow TrueCar on Twitter (@TrueCar) and become a fan of TrueCar on Facebook and Google+.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas, is an automotive pricing information and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, TrueCar.com provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for similarly-equipped new cars in their geographic area. TrueCar also owns ALG, the benchmark for vehicle value information to the automotive industry and has been forecasting residual values for nearly 50 years in both the U.S. and Canadian markets.
TrueCar is a data-driven company that sources, compiles, and analyzes car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold over 600,000 vehicles across the country. Its national network of more than 5,200 Certified Dealers is committed to provide no-hassle pricing for some of the country's largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.
SOURCE TrueCar, Inc.
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