TrueCar’s Lead Industry Analyst Nick Woolard and Vice President of Strategic Initiatives Alain Nana-Sinkam joined us on the show to share TrueCar's forecast of 16 million new vehicle sales will occur in 2021 -- a 10% increase over 2020. In addition, they talk about TrueCar's prediction that the average transaction price will increase by 3.1% this year compared to 2020.
What do these numbers mean for credit unions? Alain and Nick explain, along with why these increases will happen, what are the automobile buying trends in the marketplace (hint: electric), how they came up with these percentages, and the rapid come back of the automobile industry -- especially in Q4 2020.
Check it out and let us know your thoughts. And watch the entire episode with Alain and Nick below for all the details.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.