- Truecar forecasts revenue from U.S. vehicle sales will rise 1% to $56B in December.
- The firm's data and analytics subsidiary projects incentive spending will decline 5.6% Y/Y. The ratio of incentive spending to average transction price is expected to be 10.7% vs. 11.4% a year ago. Hyundai (OTCPK:HYMLF) and General Motors (NYSE:GM) are the two automakers seen posting the best improvement in incentive spending.
- "The auto industry closed out 2018 on a high note with continued growth in average transaction prices and lower incentive spending in December," says TrueCar ALG chief industry analyst Eric Lyman.
- "The performance overall for 2018 exceeded expectations with regards to pace of sales and retail indicators of ATPs and incentive spending. We also expect continued sales momentum as we are forecasting 17 million new vehicles and light trucks in 2019."
- Related ETF: CARZ.
- Source: Press Release
- Now read: GM: A 6.2x Forward P/E Opportunity Hiding In Plain Sight
Original article