From the Wires
Average Fuel Economy for New Cars Sold at 23.4 MPG in January 2013 According to TrueCar's TrueMPG
Largest Average Month-to-Month Fuel Economy Increase Since February 2011
By: PR Newswire
Feb. 11, 2013 12:02 PM
SANTA MONICA, Calif., Feb. 11, 2013 /PRNewswire/ -- TrueCar, the authority on new car pricing information, trends and forecasting, today provided actual fuel economy numbers from January light vehicle auto sales that indicate TrueMPG™ increased to 23.4 mpg in January 2013 compared to 23.0 mpg in December 2012, and stayed flat from January 2012 at 22.9 mpg.
Below is how the top eight manufacturers fared comparing overall mpg, broken out by car and truck mpg:
According to TrueCar.com, the TrueMPG™ for vehicles sold by U.S. manufacturers averaged 21.6 MPG in January 2013, up from 20.9 MPG in January 2012. European manufacturers increased their average fuel economy for vehicles sold from 22.5 MPG to 23.0 MPG; Japanese manufacturers increased their average fuel economy from last year at 24.7 MPG to 25.1 MPG; and South Korean manufacturers average fuel economy stayed flat for vehicles at 26.8 MPG.
Below is a snapshot of a few vehicle segments and how they compare from January 2013 versus January 2012:
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 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 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 identically-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 analyses car-buying information unlike anybody in the industry. This is why, since its founding in 2005, TrueCar dealer partners have sold over 700,000 vehicles across the country. Its national network of more than 5,400 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.
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.
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