TrueCar announced today that fuel economy numbers from March light vehicle sales indicate the average increased to 23.7 mpg.
This is the third consecutive month average fuel economy records have been achieved by the industry.
TrueCar describes itself as the automotive pricing information and analysis company that provides new car pricing trends and forecasting; the company identifies its average fuel economy rating as the TrueMPG rating.
“The industry reached yet another record-high TrueMPG average in March, thanks not only to continued consumer preference for smaller vehicles but also due to significantly improved fuel efficiency of larger vehicles, especially large trucks,” said Jesse Toprak, senior analyst for TrueCar. “The highly competitive mid-size sedan segment experienced the biggest gain since last year, with Nissan and Chrysler posting the largest improvements among automakers.”
Below is, according to TrueCar, how the top eight manufacturers fared comparing overall MPG, broken out by car and truck mpg:
- the TrueMPG for vehicles sold by U.S. manufacturers averaged 21.8 MPG in March 2013, up from 21.3 MPG in March 2012;
- European manufacturers increased their average fuel economy for vehicles sold from 23.0 MPG to 23.4 MPG;
- Japanese manufacturers increased their average fuel economy from 25.0 MPG last year to 25.4 MPG;
- South Korean manufacturers’ average fuel economy decreased from 27.4 MPG in March 2012 to 27.3 last month.
TrueMPG is described by the company as a data-rich method to compare monthly fuel economy averages by brand, manufacturer, origin and vehicle segments using Environmental Protection Agency (EPA) ratings and actual monthly automotive sales-weighted information.
TrueCar.com seeks to provide average fuel economy transparency by creating an alternative view to Corporate Average Fuel Economy (CAFE) ratings.
The company aims the have its TrueMPG rating help keep in perspective what each manufacturer’s average miles per gallon per car sold – computed monthly and annually – by using the EPA’s window sticker ratings.
To create its TrueMPG rating, TrueCar computes monthly average fuel economy by brand, manufacturer, origin and vehicle segments by using actual 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 what the company said is an accurate and completely data-driven picture of actual measured MPGs in the marketplace.
TrueCar utilizes the EPA’s average fuel economy rating using 45 percent highway and 55 percent city driving behavior.