TuanChe Ltd
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Communication Services : Media |
Based in China
Company profile

TuanChe Limited is a China-based company principally operates an omni-channel automotive marketplace. The Company mainly provides integrated marketing solutions and virtual dealership services. Its integrated marketing solutions include transaction-facilitating auto shows. The Company mainly conducts its businesses through two segments: Auto Shows and Group-purchase Facilitation segments. Its auto shows involves four phases: annual planning, event request initiation, event planning and event execution. Its services in virtual dealership includes distribution channel expansion services for automakers and sourcing services for secondary dealers. Its online platform consists of its Website tuanche.com, its official WeChat account, its WeChat mini-program and its mobile applications.

This security is an American depositary receipt
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Closing Price
$0.9497
Day's Change
0.0127 (1.36%)
Bid
--
Ask
--
B/A Size
--
Day's High
1.18
Day's Low
0.86
Volume
(Heavy Day)
Volume:
556,904

10-day average volume:
57,365
556,904

TrueCar's ALG Forecasts Vehicle Sales for June and Q2 2020

9:00 am ET June 25, 2020 (Globe Newswire) Print

ALG, Inc., a subsidiary of TrueCar, Inc. and the industry benchmark for determining the future resale value of a vehicle, projects total new vehicle sales will reach 1,098,960 units in June 2020, down 24% from a year ago 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 13 million units. Excluding fleet sales, ALG expects U.S. retail deliveries of new cars and light trucks to be 1,014,927 units, a decrease of 15% from a year ago when adjusted for the same number of selling days.

"Automotive retail continues to show positive momentum, rebounding from April lows and performing better than initially expected as states continue to ease restrictions," said Eric Lyman, Chief Industry Analyst for ALG, a subsidiary of TrueCar. "Fleet is now also beginning to show signs of recovery, up twenty-two percent from last month, and we are also seeing significant improvement in the used market, where we expect used car sales to be up sixteen percent month over month."

"While used vehicle sales were initially hit harder than new vehicles due to COVID-19 impact, we expect that trend to reverse itself now due to new car inventory shortfalls. Used vehicle inventory is always much larger than new and lease returns have been picking back up, adding a flood of two to three-year-old vehicles back into the used market. Additionally, there's attractive financing and lower price points which are all helping spur increased demand in the used vehicle market," added Lyman.

Additional Insights: (Forecast by ALG)

-- Total retail sales for June 2020 are expected to be down 15% from a year ago when adjusted for the same number of selling days and up 1.5% from May 2020 when adjusted for the same number of selling days.

-- Fleet sales for June 2020 are expected to be down 68% from a year ago when adjusted for the same number of selling days and up 22% from May 2020 when adjusted for the same number of selling days.

-- Total SAAR is expected to decrease 25% from a year ago from 17.2 million units to 13 million units.

-- Used vehicle sales for June 2020 are expected to reach 2,719,074, down 20% from a year ago and up 16% from May 2020.

-- The average interest rates on new vehicle loans is 5.99%

"Inventory availability will continue to affect new vehicle sales as a result of production pauses related to COVID-19," said Nick Woolard Director of OEM and Affinity Partner Analytics at TrueCar. "With no inventory cushion, Tesla's build-to-order model is expected to result in the brand getting hit the hardest month-over month with production stops completely shutting down order fulfillment. Toyota has also experienced outsized retail sales decline this month compared with other brands due to inventory availability, especially on their popular Toyota Tacoma. In the short-term consumers will likely have a harder time finding exact trims and colors for certain vehicles across the board due to these supply shortages."

Quarterly Insights: (Forecast by ALG)

-- Total unit sales for Q2 are expected to be down 34% from last year when adjusted for the same number of selling days and down 19% from Q1 when adjusted for the same number of selling days.

-- Total retail sales for Q2 are expected to be down 26% from last year when adjusted for the same number of selling days and down 5% from Q1 when adjusted for the same number of selling days.

June 2020 forecasts for the 13 largest manufacturers by volume. For additional data visit the ALG Newsroom.

Total Unit Sales

Manufacturer     Jun 2020 Forecast Jun 2019 Actual May 2020 Actual YoY % Change YoY % Change         MoM % Change MoM % Change  (Daily Selling Rate)
                                                                                (Daily Selling Rate)
BMW              27,775            34,982          20,052          -20.6  %     -17.4      %         38.5   %     44.1              %
Daimler          18,930            29,275          20,958          -35.3  %     -32.8      %         -9.7   %     -6.1              %
FCA              138,478           206,083         137,119         -32.8  %     -30.1      %         1.0    %     5.0               %
Ford             150,925           218,691         154,775         -31.0  %     -28.2      %         -2.5   %     1.4               %
GM               171,626           249,182         175,921         -31.1  %     -28.4      %         -2.4   %     1.5               %
Honda            107,737           135,901         120,977         -20.7  %     -17.6      %         -10.9  %     -7.4              %
Hyundai          60,585            66,089          58,969          -8.3   %     -4.7       %         2.7    %     6.8               %
Kia              48,148            56,801          45,817          -15.2  %     -11.8      %         5.1    %     9.3               %
Nissan           68,469            123,504         65,349          -44.6  %     -42.3      %         4.8    %     9.0               %
Subaru           58,873            61,511          51,988          -4.3   %     -0.5       %         13.2   %     17.8              %
Tesla            6,561             14,400          8,150           -54.4  %     -52.6      %         -19.5  %     -16.3             %
Toyota           147,675           202,352         163,421         -27.0  %     -24.1      %         -9.6   %     -6.0              %
Volkswagen Group 46,683            56,697          42,205          -17.7  %     -14.4      %         10.6   %     15.0              %
Industry         1,098,960         1,509,963       1,111,723       -27.2  %     -24.3      %         -1.1   %     2.8               %

Retail Unit Sales

Manufacturer     Jun 2020 Forecast Jun 2019 Actual May 2020 Actual YoY % Change YoY % Change         MoM % Change MoM % Change  (Daily Selling Rate)
                                                                                (Daily Selling Rate)
BMW              27,409            33,798          19,709          -18.9  %     -15.7      %         39.1   %     44.6              %
Daimler          17,985            27,076          20,250          -33.6  %     -30.9      %         -11.2  %     -7.6              %
FCA              124,062           158,176         131,240         -21.6  %     -18.4      %         -5.5   %     -1.7              %
Ford             121,598           150,291         135,188         -19.1  %     -15.9      %         -10.1  %     -6.5              %
GM               157,258           195,488         156,060         -19.6  %     -16.3      %         0.8    %     4.8               %
Honda            107,129           134,685         120,021         -20.5  %     -17.3      %         -10.7  %     -7.2              %
Hyundai          57,708            55,462          55,846          4.0    %     8.2        %         3.3    %     7.5               %
Kia              46,920            51,223          43,317          -8.4   %     -4.7       %         8.3    %     12.7              %
Nissan           62,305            85,211          58,900          -26.9  %     -24.0      %         5.8    %     10.0              %
Subaru           53,753            55,415          47,969          -3.0   %     0.9        %         12.1   %     16.5              %
Tesla            6,549             14,400          8,150           -54.5  %     -52.7      %         -19.6  %     -16.4             %
Toyota           142,789           179,346         158,423         -20.4  %     -17.2      %         -9.9   %     -6.3              %
Volkswagen Group 44,523            49,248          40,270          -9.6   %     -6.0       %         10.6   %     15.0              %
Industry         1,014,927         1,236,347       1,040,054       -17.9  %     -14.6      %         -2.4   %     1.5               %

Fleet Unit Sales

Manufacturer     Jun 2020 Forecast Jun 2019 Actual May 2020 Actual YoY % Change YoY % Change         MoM % Change MoM % Change  (Daily Selling Rate)
                                                                                (Daily Selling Rate)
BMW              366               1,184           343             -69.0  %     -67.8      %         6.8    %     11.0              %
Daimler          944               2,199           708             -57.1  %     -55.3      %         33.5   %     38.8              %
FCA              14,417            47,907          5,879           -69.9  %     -68.7      %         145.2  %     155.0             %
Ford             29,327            68,400          19,587          -57.1  %     -55.4      %         49.7   %     55.7              %
GM               14,369            53,694          19,861          -73.2  %     -72.2      %         -27.7  %     -24.8             %
Honda            608               1,216           956             -50.0  %     -48.0      %         -36.4  %     -33.8             %
Hyundai          2,877             10,627          3,123           -72.9  %     -71.8      %         -7.9   %     -4.2              %
Kia              1,227             5,578           2,500           -78.0  %     -77.1      %         -50.9  %     -49.0             %
Nissan           6,164             38,293          6,449           -83.9  %     -83.3      %         -4.4   %     -0.6              %
Subaru           5,120             6,096           4,019           -16.0  %     -12.6      %         27.4   %     32.5              %
Tesla            12                -               -               -            -                    -            -
Toyota           4,886             23,006          4,998           -78.8  %     -77.9      %         -2.2   %     1.7               %
Volkswagen Group 2,159             7,449           1,935           -71.0  %     -69.9      %         11.6   %     16.0              %
Industry         84,033            273,616         71,669          -69.3  %     -68.1      %         17.3   %     21.9              %

Fleet Penetration

Manufacturer     Jun 2020 Forecast Jun 2019 Actual May 2020 Actual YoY % Change MoM % Change
BMW              1.3      %        3.4     %       1.7     %       -61.0  %     -22.9  %
Daimler          5.0      %        7.5     %       3.4     %       -33.6  %     47.8   %
FCA              10.4     %        23.2    %       4.3     %       -55.2  %     142.8  %
Ford             19.4     %        31.3    %       12.7    %       -37.9  %     53.5   %
GM               8.4      %        21.5    %       11.3    %       -61.1  %     -25.8  %
Honda            0.6      %        0.9     %       0.8     %       -36.9  %     -28.6  %
Hyundai          4.7      %        16.1    %       5.3     %       -70.5  %     -10.3  %
Kia              2.5      %        9.8     %       5.5     %       -74.0  %     -53.3  %
Nissan           9.0      %        31.0    %       9.9     %       -71.0  %     -8.8   %
Subaru           8.7      %        9.9     %       7.7     %       -12.2  %     12.5   %
Tesla            0.2      %        0.0     %       0.0     %       -            -
Toyota           3.3      %        11.4    %       3.1     %       -70.9  %     8.2    %
Volkswagen Group 4.6      %        13.1    %       4.6     %       -64.8  %     0.9    %
Industry         7.6      %        18.1    %       6.4     %       -57.8  %     18.6   %

Total Market Share

Manufacturer     Jun 2020 Forecast Jun 2019 Actual May 2020 Actual
BMW              2.5      %        2.3     %       1.8     %
Daimler          1.7      %        1.9     %       1.9     %
FCA              12.6     %        13.6    %       12.3    %
Ford             13.7     %        14.5    %       13.9    %
GM               15.6     %        16.5    %       15.8    %
Honda            9.8      %        9.0     %       10.9    %
Hyundai          5.5      %        4.4     %       5.3     %
Kia              4.4      %        3.8     %       4.1     %
Nissan           6.2      %        8.2     %       5.9     %
Subaru           5.4      %        4.1     %       4.7     %
Tesla            0.6      %        1.0     %       0.7     %
Toyota           13.4     %        13.4    %       14.7    %
Volkswagen Group 4.2      %        3.8     %       3.8     %

Retail Market Share

Manufacturer     Jun 2020 Forecast Jun 2019 Actual May 2020 Actual
BMW              2.7      %        2.7     %       1.9     %
Daimler          1.8      %        2.2     %       1.9     %
FCA              12.2     %        12.8    %       12.6    %
Ford             12.0     %        12.2    %       13.0    %
GM               15.5     %        15.8    %       15.0    %
Honda            10.6     %        10.9    %       11.5    %
Hyundai          5.7      %        4.5     %       5.4     %
Kia              4.6      %        4.1     %       4.2     %
Nissan           6.1      %        6.9     %       5.7     %
Subaru           5.3      %        4.5     %       4.6     %
Tesla            0.6      %        1.2     %       0.8     %
Toyota           14.1     %        14.5    %       15.2    %
Volkswagen Group 4.4      %        4.0     %       3.9     %

Quarterly Tables

Total Unit Sales, Quarterly

Manufacturer     Q2 2020   Q2 2019   Q1 2020   YoY % Change YoY % Change         QoQ % Change QoQ % Change  (Daily Selling Rate)
                                                            (Daily Selling Rate)
BMW              55,983    91,230    65,237    -38.6  %     -38.6      %         -14.2  %     -15.3             %
Daimler          51,166    85,039    69,846    -39.8  %     -39.8      %         -26.7  %     -27.7             %
FCA              368,587   600,434   445,345   -38.6  %     -38.6      %         -17.2  %     -18.3             %
Ford             425,291   644,498   529,556   -34.0  %     -34.0      %         -19.7  %     -20.7             %
GM               485,120   744,316   643,541   -34.8  %     -34.8      %         -24.6  %     -25.6             %
Honda            286,465   407,208   298,726   -29.7  %     -29.7      %         -4.1   %     -5.3              %
Hyundai          154,328   191,548   134,700   -19.4  %     -19.4      %         14.6   %     13.1              %
Kia              125,670   168,248   137,851   -25.3  %     -25.3      %         -8.8   %     -10.0             %
Nissan           180,507   351,185   256,703   -48.6  %     -48.6      %         -29.7  %     -30.6             %
Subaru           141,481   182,771   130,590   -22.6  %     -22.6      %         8.3    %     6.9               %
Tesla            18,428    36,300    56,200    -49.2  %     -49.2      %         -67.2  %     -67.6             %
Toyota           396,259   608,392   494,668   -34.9  %     -34.9      %         -19.9  %     -20.9             %
Volkswagen Group 116,967   167,694   128,935   -30.2  %     -30.2      %         -9.3   %     -10.5             %
Industry         2,921,510 4,431,851 3,548,037 -34.1  %     -34.1      %         -17.7  %     -18.7             %

Retail Unit Sales, Quarterly

Manufacturer     Q2 2020   Q2 2019   Q1 2020   YoY % Change YoY % Change         QoQ % Change QoQ % Change  (Daily Selling Rate)
                                                            (Daily Selling Rate)
BMW              55,245    88,362    59,172    -37.5  %     -37.5      %         -6.6   %     -7.8              %
Daimler          48,613    79,056    64,985    -38.5  %     -38.5      %         -25.2  %     -26.2             %
FCA              330,214   438,080   325,269   -24.6  %     -24.6      %         1.5    %     0.2               %
Ford             342,650   427,648   334,639   -19.9  %     -19.9      %         2.4    %     1.1               %
GM               444,506   601,826   447,663   -26.1  %     -26.1      %         -0.7   %     -2.0              %
Honda            284,849   402,815   293,904   -29.3  %     -29.3      %         -3.1   %     -4.3              %
Hyundai          146,999   148,388   107,112   -0.9   %     -0.9       %         37.2   %     35.5              %
Kia              122,467   141,334   116,732   -13.3  %     -13.3      %         4.9    %     3.6               %
Nissan           164,256   237,538   177,572   -30.9  %     -30.9      %         -7.5   %     -8.7              %
Subaru           129,176   165,116   123,192   -21.8  %     -21.8      %         4.9    %     3.5               %
Tesla            18,321    36,300    56,200    -49.5  %     -49.5      %         -67.4  %     -67.8             %
Toyota           383,148   535,550   420,712   -28.5  %     -28.5      %         -8.9   %     -10.1             %
Volkswagen Group 111,556   149,356   113,520   -25.3  %     -25.3      %         -1.7   %     -3.0              %
Industry         2,664,766 3,588,832 2,761,404 -25.7  %     -25.7      %         -3.5   %     -4.8              %

Total Market Share, Quarterly

Manufacturer     Q2 2020  Q2 2019  Q1 2020
BMW              1.9  %   2.1  %   1.8  %
Daimler          1.8  %   1.9  %   2.0  %
FCA              12.6 %   13.5 %   12.6 %
Ford             14.6 %   14.5 %   14.9 %
GM               16.6 %   16.8 %   18.1 %
Honda            9.8  %   9.2  %   8.4  %
Hyundai          5.3  %   4.3  %   3.8  %
Kia              4.3  %   3.8  %   3.9  %
Nissan           6.2  %   7.9  %   7.2  %
Subaru           4.8  %   4.1  %   3.7  %
Tesla            0.6  %   0.8  %   1.6  %
Toyota           13.6 %   13.7 %   13.9 %
Volkswagen Group 4.0  %   3.8  %   3.6  %

Retail Market Share, Quarterly

Manufacturer     Q2 2020  Q2 2019  Q1 2020
BMW              2.1  %   2.5  %   2.1  %
Daimler          1.8  %   2.2  %   2.4  %
FCA              12.4 %   12.2 %   11.8 %
Ford             12.9 %   11.9 %   12.1 %
GM               16.7 %   16.8 %   16.2 %
Honda            10.7 %   11.2 %   10.6 %
Hyundai          5.5  %   4.1  %   3.9  %
Kia              4.6  %   3.9  %   4.2  %
Nissan           6.2  %   6.6  %   6.4  %
Subaru           4.8  %   4.6  %   4.5  %
Tesla            0.7  %   1.0  %   2.0  %
Toyota           14.4 %   14.9 %   15.2 %
Volkswagen Group 4.2  %   4.2  %   4.1  %

(Note: This forecast is based solely on ALG's analysis of industry sales trends and conditions and is not a projection of TrueCar, Inc.'s operations.)

About ALG

Founded in 1964 and headquartered in Santa Monica, California, ALG is an industry authority on automotive residual value projections in both the United States and Canada. By analyzing nearly 2,500 vehicle trims each year to assess residual value, ALG provides auto industry and financial services clients with market industry insights, residual value forecasts, consulting and vehicle portfolio management and risk services. ALG is a wholly-owned subsidiary of TrueCar, Inc., a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars. ALG has been publishing residual values for all cars, trucks and SUVs in the U.S. for over 55 years and in Canada since 1981.

About TrueCar

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car 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 car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam's Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts.

For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pr@truecar.com

TrueCar and ALG PR Contact:
Shadee Malekafzali
shadee@truecar.com
424.258.8694

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