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TrueCar: 2011 New Car Sales May Be Highest Since 2008

By Sheryl Nance-Nash   |   Friday, 30 Dec 2011 11:36 AM

In yet another sign that maybe, just maybe, the U.S. economy is emerging from the ashes, TrueCar.com reports that 2011 new car sales are expected to reach 12.8 million units, the highest since the economy began sputtering in 2008.

Better still, they project that in 2012, new car sales will go even higher, to about 14 million units.

Retail sales are up 8.7 percent this month, compared to December 2010, and up 26 percent from November 2011.
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This month, new light vehicle sales are expected to be up 8.1 percent from 2010, and nearly 25 percent from last month. Fleet and rental sales will likely make up 19 percent of total industry sales in December.

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(Getty Images photo)
What’s also good news is that dealers haven’t had to give up as much to get those sales. The industry average incentive spending per unit will be just over $2,500 this month, about 3 percent less than in November, as well as a year ago.

“December’s sales rates was a continuation of the rather slow and steady recovery that now symbolizes 2011,” said Jesse Toprak, vice president of industry trends and Insights for TrueCar.com, a publisher of new car transaction data, in a prepared statement.

Most manufacturers enjoyed the rebound. “This year new car sales are up year over year for every major automaker except Honda and Toyota, with Hyundai/Kia sales expected to rise the most at almost 28 percent,” said Kristen Andersson, automotive analyst for TrueCar.com, in a prepared statement.

This month’s top three selling brands are projected to be Ford, selling 195,486 units; Chevrolet, 162,462 and Toyota, 143,412.

While there was no month this year where sales were explosive enough to warrant celebration, slow and steady wins the race. The big picture is good — the healthy growth appears sustainable.

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In yet another sign that maybe, just maybe, the U.S. economy is emerging from the ashes, TrueCar.com reports that 2011 new car sales are expected to reach 12.8 million units, the highest since the economy began sputtering in 2008. Better still, they project that in 2012,...
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