TrueCar Forecasts Fourth Consecutive Month of Slowing Vehicle Sales for August 2021

SANTA MONICA, Calif., Aug. 27: TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, forecasts total new vehicle sales will reach 1,212,399 units in August 2021, down 4% from a year ago but up 1% vs. July 2021, when adjusted for the same number of selling days. This month's seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 14.4 million, down 4% from August 2020. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,077,701 units, down 7% from a year ago and about even with July 2021. "The chip shortage continues to be the driving force behind vehicle availability, creating the lowest average incentive spending since 20131," said Nick Woolard, Lead Industry Analyst at TrueCar. "Continued strong demand is creating an environment where vehicles are selling extremely quickly. About a third of vehicles are selling within a week of arriving on the dealer lot, compared to just 18% last year," added Woolard. "Though new vehicle sales continue to decline in August, some brands saw a year-over-year increase in sales. Toyota is operating extremely well considering their inventory days' supply is roughly half the industry average. We will continue to see how they perform once their announced plant closures put additional pressure on production and inventory," said Valeri Tompkins, Senior Vice President of OEM Solutions at TrueCar. Additional Insights (forecast by TrueCar): Total sales for August 2021 are expected to be down 4% from a year ago and up 1% from July 2021 when adjusted for the same number of selling days. Fleet sales for August 2021 are expected to be up 30% from a year ago and up 9% from July 2021 when adjusted for the same number of selling days. Incentive spend is down 39% from last year. Average transaction price is projected to be up 6% from a year ago and up .5% from July 2021. Total SAAR is expected to be down 4% from a year ago at 14.4 million units. Used vehicle sales for August 2021 are expected to reach 3.7 million, up 6% from a year ago and about even with July 2021. The average interest rate on new vehicles is 4.6% and the average interest rate on used vehicles is 7.4%. The average loan term on a new vehicle for August 2021 is 70 months and likewise the average loan term on a used vehicle is also 70 months. Total Unit Sales Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YoY % Change YoY % Change (Daily Selling Rate) MoM % Change MoM % Change (Daily Selling Rate) BMW 29,416 25,235 28,845 16.6% 21.2% 2.0% 10.1% Daimler 22,840 23,966 24,977 -4.7% -0.9% -8.6% -1.2% Ford 122,166 184,781 118,917 -33.9% -31.2% 2.7% 11.0% GM 183,530 218,845 197,697 -16.1% -12.8% -7.2% 0.3% Honda 133,666 135,925 135,542 -1.7% 2.3% -1.4% 6.5% Hyundai 69,550 59,721 73,680 16.5% 21.1% -5.6% 1.9% Kia 64,172 57,015 70,099 12.6% 17.1% -8.5% -1.1% Nissan 64,205 73,833 80,456 -13.0% -9.6% -20.2% -13.8% Stellantis 142,791 171,519 142,065 -16.7% -13.4% 0.5% 8.6% Subaru 43,065 57,885 50,125 -25.6% -22.6% -14.1% -7.2% Tesla 26,425 19,000 26,200 39.1% 44.6% 0.9% 8.9% Toyota 200,202 190,532 225,917 5.1% 9.3% -11.4% -4.3% Volkswagen Group 53,295 50,275 55,754 6.0% 10.2% -4.4% 3.2% Industry 1,212,399 1,319,682 1,291,775 -8.1% -4.5% -6.1% 1.4% Retail Unit Sales Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YoY % Change YoY % Change (Daily Selling Rate) MoM % Change MoM % Change (Daily Selling Rate) BMW 28,851 24,827 28,359 16.2% 20.9% 1.7% 9.9% Daimler 21,794 23,120 24,466 -5.7% -2.0% -10.9% -3.8% Ford 90,121 147,570 96,446 -38.9% -36.5% -6.6% 0.9% GM 155,217 196,696 172,037 -21.1% -17.9% -9.8% -2.6% Honda 132,042 135,147 134,974 -2.3% 1.6% -2.2% 5.7% Hyundai 61,961 57,839 66,053 7.1% 11.4% -6.2% 1.3% Kia 58,942 53,802 67,491 9.6% 13.9% -12.7% -5.7% Nissan 58,190 68,339 66,456 -14.9% -11.4% -12.4% -5.4% Stellantis 118,682 147,408 119,919 -19.5% -16.3% -1.0% 6.9% Subaru 42,220 56,999 48,256 -25.9% -23.0% -12.5% -5.5% Tesla 26,260 19,000 26,191 38.2% 43.7% 0.3% 8.3% Toyota 180,822 184,624 199,937 -2.1% 1.9% -9.6% -2.3% Volkswagen Group 52,507 49,823 54,953 5.4% 9.6% -4.5% 3.2% Industry 1,077,701 1,211,579 1,158,127 -11.0% -7.5% -6.9% 0.5% Fleet Unit Sales Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YoY % Change YoY % Change (Daily Selling Rate) MoM % Change MoM % Change (Daily Selling Rate) BMW 565 408 486 38.5% 44.0% 16.1% 25.4% Daimler 1,046 846 511 23.7% 28.6% 104.7% 121.1% Ford 32,045 37,211 22,471 -13.9% -10.4% 42.6% 54.0% GM 28,313 22,149 25,660 27.8% 32.9% 10.3% 19.2% Honda 1,625 778 568 108.9% 117.2% 186.1% 209.0% Hyundai 7,589 1,882 7,627 303.3% 319.4% -0.5% 7.5% Kia 5,230 3,213 2,608 62.8% 69.3% 100.5% 116.6% Nissan 6,015 5,494 14,000 9.5% 13.9% -57.0% -53.6% Stellantis 24,109 24,111 22,146 0.0% 4.0% 8.9% 17.6% Subaru 845 886 1,869 -4.6% -0.8% -54.8% -51.2% Tesla 165 - 9 1747.2% 1895.0% Toyota 19,380 5,908 25,980 228.0% 241.2% -25.4% -19.4% Volkswagen Group 789 452 801 74.4% 81.4% -1.5% 6.4% Industry 134,698 108,103 133,648 24.6% 29.6% 0.8% 8.8% Fleet Penetration Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YoY % Change MoM % Change BMW 1.9% 1.6% 1.7% 18.8% 13.9% Daimler 4.6% 3.5% 2.0% 29.8% 123.9% Ford 26.2% 20.1% 18.9% 30.3% 38.8% GM 15.4% 10.1% 13.0% 52.4% 18.9% Honda 1.2% 0.6% 0.4% 112.4% 190.1% Hyundai 10.9% 3.2% 10.4% 246.3% 5.4% Kia 8.1% 5.6% 3.7% 44.6% 119.1% Nissan 9.4% 7.4% 17.4% 25.9% -46.2% Stellantis 16.9% 14.1% 15.6% 20.1% 8.3% Subaru 2.0% 1.5% 3.7% 28.3% -47.4% Tesla 0.6% 0.0% 0.0% 1731.4% Toyota 9.7% 3.1% 11.5% 212.2% -15.8% Volkswagen Group 1.5% 0.9% 1.4% 64.6% 3.0% Industry 11.1% 8.2% 10.3% 35.6% 7.4% Total Market Share Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual BMW 2.4% 1.9% 2.2% Daimler 1.9% 1.8% 1.9% Ford 10.1% 14.0% 9.2% GM 15.1% 16.6% 15.3% Honda 11.0% 10.3% 10.5% Hyundai 5.7% 4.5% 5.7% Kia 5.3% 4.3% 5.4% Nissan 5.3% 5.6% 6.2% Stellantis 11.8% 13.0% 11.0% Subaru 3.6% 4.4% 3.9% Tesla 2.2% 1.4% 2.0% Toyota 16.5% 14.4% 17.5% Volkswagen Group 4.4% 3.8% 4.3% 95.3% 96.1% 95.2% Retail Market Share Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual BMW 2.7% 2.0% 2.4% Daimler 2.0% 1.9% 2.1% Ford 8.4% 12.2% 8.3% GM 14.4% 16.2% 14.9% Honda 12.3% 11.2% 11.7% Hyundai 5.7% 4.8% 5.7% Kia 5.5% 4.4% 5.8% Nissan 5.4% 5.6% 5.7% Stellantis 11.0% 12.2% 10.4% Subaru 3.9% 4.7% 4.2% Tesla 2.4% 1.6% 2.3% Toyota 16.8% 15.2% 17.3% Volkswagen Group 4.9% 4.1% 4.7% 95.4% 96.2% 95.5% ATP Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YOY MOM BMW $57,757 $57,122 $56,408 1.1% 2.4% Daimler $67,341 $59,487 $60,768 13.2% 10.8% Ford $47,641 $42,342 $46,896 12.5% 1.6% GM $44,962 $41,745 $44,846 7.7% 0.3% Honda $31,557 $30,112 $31,048 4.8% 1.6% Hyundai $31,842 $29,082 $31,114 9.5% 2.3% Kia $27,674 $26,158 $27,803 5.8% -0.5% Nissan $31,393 $28,419 $31,574 10.5% -0.6% Stellantis $47,719 $42,440 $47,623 12.4% 0.2% Subaru $31,312 $30,087 $30,983 4.1% 1.1% Toyota $35,035 $34,087 $35,102 2.8% -0.2% Volkswagen Group $42,197 $40,947 $42,273 3.1% -0.2% Industry $38,520 $36,373 $38,332 5.9% 0.5% $2,148 $188 Incentives Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YOY MOM BMW $4,029 $5,486 $4,427 -26.6% -9.0% Daimler $3,929 $5,560 $3,280 -29.3% 19.8% Ford $2,234 $4,023 $2,461 -44.5% -9.2% GM $3,384 $5,570 $3,991 -39.2% -15.2% Honda $1,945 $2,644 $2,112 -26.4% -7.9% Hyundai $1,503 $2,444 $1,895 -38.5% -20.7% Kia $2,034 $3,711 $2,603 -45.2% -21.9% Nissan $2,283 $4,520 $3,005 -49.5% -24.0% Stellantis $2,981 $4,812 $2,720 -38.1% 9.6% Subaru $1,192 $1,855 $1,395 -35.7% -14.5% Toyota $1,825 $2,745 $1,957 -33.5% -6.8% Volkswagen Group $2,799 $4,478 $3,362 -37.5% -16.8% Industry $2,432 $3,969 $2,688 -38.7% -9.5% -$1,537 -$256 Incentives as % of ATP Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YOY MOM BMW 7.0% 9.6% 7.8% -27.4% -11.1% Daimler 5.8% 9.3% 5.4% -37.6% 8.1% Ford 4.7% 9.5% 5.2% -50.7% -10.7% GM 7.5% 13.3% 8.9% -43.6% -15.4% Honda 6.2% 8.8% 6.8% -29.8% -9.4% Hyundai 4.7% 8.4% 6.1% -43.8% -22.5% Kia 7.4% 14.2% 9.4% -48.2% -21.5% Nissan 7.3% 15.9% 9.5% -54.3% -23.6% Stellantis 6.2% 11.3% 5.7% -44.9% 9.4% Subaru 3.8% 6.2% 4.5% -38.3% -15.4% Toyota 5.2% 8.1% 5.6% -35.3% -6.6% Volkswagen Group 6.6% 10.9% 8.0% -39.4% -16.6% Industry 6.3% 10.9% 7.0% -42.1% -10.0% Revenue Manufacturer Aug 2021 Forecast Aug 2020 Actual Jul 2021 Actual YOY MOM Industry $46,702,106,518 $48,000,364,966 $49,516,875,483 -2.7% -5.7% About TrueCar TrueCar is a leading automotive digital marketplace that enables auto buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient auto buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings, and market context on new and used cars – all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency, and fairness are the foundation of a great auto buying experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas. For more information, please visit www.truecar.com 1 according to Motor Intelligence