TrueCar.com, an authority on new car pricing information, trends and forecasting, today provided actual fuel economy numbers from June light vehicle auto sales indicating a rise in average fuel economy for new cars.
The company's TrueMPG rating increased to 23.1 mpg in July 2012 compared to 21.6 mpg in July 2011, and increased from 23 mpg in May. Just four years ago, in May 2008, TrueMPG was 21.2 mpg.
"There is a very strong correlation, nearly 71 percent, between TrueMPG and average gas prices since January of 2010, indicating that the prices at the pump influence consumer preferences," said Jesse Toprak, vice president of market intelligence at TrueCar.com.
"Manufacturers have been responding by offering a larger mix of smaller vehicles and improving efficiencies on their existing larger vehicle engines, as evidenced by the significant improvement in TrueMPG in the recent years," he added.
The TrueMPG for vehicles sold by U.S. manufacturers averaged 21 mpg in July 2012, up from 20.2 mpg in July 2011. European manufacturers increased their average fuel economy for vehicles sold from 21.3 mpg to 23.7 mpg. Japanese manufacturers increased their average fuel economy from last year at 23.0 mpg to 24.4 mpg, while South Korean manufacturers increased their average fuel economy from 24.6 mpg to 27.8 mpg.
Related: Fuel Economy of New Cars Sold in 2012 Reached New High
TrueMPG computes monthly average fuel economy by brand, manufacturer, origin and vehicle segments by using actual sales data or forecasted sales data for the current month.
Calculations start at the trim level, taking into account EPA fuel economy data including engine size and drivetrain that affect a vehicle's MPG ratings; the sales share from each trim level is then calculated to create an average for each model.
Brand level data is calculated by the sales share of each model and the manufacturer data is then based on the share of each brand, providing an accurate and completely data driven picture of actual measured mpg in the marketplace. TrueCar utilizes the EPA's average fuel economy rating using 45 percent highway and 55 percent city driving behavior.
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