SANTA MONICA, Calif.–TrueCar is projecting total new vehicle sales will reach 1,460,820 units in March 2021, up 42% from a year ago and up 13% from February 2021, when adjusted for the same number of selling days.
TrueCar added this month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 16.4 million units. Excluding fleet sales, TrueCar said it expects U.S. retail deliveries of new cars and light trucks to be 1,260,416 units, an increase of 53% from a year ago and an increase of 10% from February 2021, when adjusted for the same number of selling days.
Used vehicle sales for March 2021 are expected to reach 3.6 million, up 104% from a year ago and up 1% from February 2021, the company said.
Average transaction prices (ATP) are projected to be up 6.6% or $2,366 from a year ago and up 1.4% or $518 from January 2021.
Additional Monthly Insights
TrueCar is also projecting:
- Fleet sales for March 2021 are expected to be down 2.5% from a year ago and up 35% from February 2021 when adjusted for the same number of selling days.
- The average interest rate on new vehicles is 4.7% and the average interest rate on used vehicles is 8.3%.
- The average loan term on a new vehicle for March 2021 is 70 months, a two-month decrease when compared to the average loan term of 72 months from this time last year.
Quarterly Insights:
- Total unit sales for Q1 are expected to be up 10% from last year when adjusted for the same number of selling days and down 4% from Q1 when adjusted for the same number of selling days, TrueCar said.
- Total retail sales for Q1 are expected to be up 21% from last year when adjusted for the same number of selling days and down 7% from Q1 when adjusted for the same number of selling days.