| 2016-10-03 07:07:17|
TM, F… 07:07 10/03 10/03/16
TrueCar sees September auto sales reaching $47B
TrueCar (TRUE) projects U.S. revenue from new vehicle sales reached $47 billion for the month of September, down 0.3 percent from a year ago. Despite higher average transaction prices, automakers should post a $138 million loss in revenue compared to last year due to expectation of lower sales in September 2016. Average Transaction Prices in September 2016 remained nearly flat compared to the prior month while showing a gain of 2.0% over the prior year. A positive indicator of the continued strength in the auto market in general and reflection of the larger sales mix of higher priced trucks and utility vehicles. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).