Average Fuel Economy for New Vehicles Rises 0.7 MPG as Record-Setting Trend hits 5th Consecutive Month, According to TrueCar's TrueMPG™

SANTA MONICA, Calif., Aug. 15, 2013 /PRNewswire/ -- TrueCar, the automotive pricing information and analysis company that works to create a better car-buying experience, today announced that fuel economy numbers from July light vehicle sales indicate TrueMPG™ remained steady at 23.7 mpg compared to June, remaining at record levels for industry fuel economy. Year-over-year, average fuel economy saw a 0.7 mpg increase, led by Nissan (+2.0 MPG) and Chrysler (+1.2 MPG), which both enjoyed gains in their average fuel economy numbers.

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"Although the monthly changes have leveled off, the fuel economy of the U.S. fleet improved dramatically in the last six years, resulting in around 2.1 billion gallons of fuel and $7.6 billion in projected savings just this year alone compared to 2007 levels," said Jesse Toprak, senior analyst for TrueCar. "Improvement in TrueMPG is a win-win for consumers and the environment."

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 21.7 MPG in July 2013, up from 21.1 MPG in July 2012. European manufacturers increased their average fuel economy for vehicles sold from 23.3 MPG in July 2012 to 23.7 MPG; Japanese manufacturers increased their average fuel economy from 24.4 MPG last year to 25.4 MPG; and South Korean manufacturers' average fuel economy remained steady year-over-year at 27.0 MPG.

Below is a snapshot of a few vehicle segments and how they compare from July 2013 versus July 2012:

TrueMPG™ is a data-rich method to compare monthly fuel economy averages by brand, manufacturer, origin and vehicle segments using Environmental Protection Agency (EPA) ratings and actual monthly automotive sales-weighted information.  TrueCar.com seeks to provide average fuel economy transparency by creating an alternative view to Corporate Average Fuel Economy (CAFE) ratings.  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 marketplace. 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 the July 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., 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, which 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 800,000 vehicles across the country.  Its national network of more than 6,000 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.

Disclaimer
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.

SOURCE TrueCar