ALG Forecasts Average New Vehicle Transaction Price Up 3.2% for June 2020
TrueCar, Inc. (TRUE)
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Source: GlobeNewswire
SANTA MONICA, Calif., July 01, 2020 (GLOBE NEWSWIRE) -- ALG, Inc., a subsidiary of TrueCar, Inc. and the industry benchmark for determining the future resale value of a vehicle, projects average transaction prices (ATP) to be up 3.2% or $1,117 from a year ago but down 0.2% or $88 from May 2020. “Average transactions prices continue to tick up year-over-year, but we are seeing signs of decline and expect a small dip in average transaction price month-over-month as automakers slowly pull back from zero percentage financing over 84 months that helped spur demand for higher price models and trim levels,” said Eric Lyman, Chief Industry Analyst for ALG, a subsidiary of TrueCar. “While incentives are still up year-over-year, the aggressive incentives that came out fast and furiously in April and May to help alleviate sales pains are beginning to soften due to low inventory and assembly plants that are still not back to full production,” added Lyman. “Retail sales over the Fourth of Ju
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