TrueCar Partners with HyreCar to Provide its Car-Sharing Marketplace with a Modern Digital Car Buying and Trade-In Solution
TrueCar and HyreCar announced a partnership on February 10, 2021, to launch the HyreCar Auto Buying Program, enhancing vehicle purchasing options for drivers in the mobility sector. The agreement leverages TrueCar's dealer network and innovative tools to assist customers in buying, selling, or trading vehicles. This partnership aims to support HyreCar's Earn to Own™ program and potentially include OEM offers and dedicated financing solutions. The initiative is expected to create new opportunities for both companies within the growing Mobility-as-a-Service (MaaS) market.
- Launch of the HyreCar Auto Buying Program to enhance vehicle purchasing options.
- Leverages TrueCar's dealer network to assist HyreCar customers.
- Supports the Earn to Own™ program for eligible customers.
- Potential for future OEM offers and specialized financing solutions.
- None.
SANTA MONICA, Calif. and LOS ANGELES, Feb. 10, 2021 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent way to find a car and HyreCar Inc. (NASDAQ: HYRE), the car-sharing marketplace for ridesharing, food, and package delivery services, today announced their new partnership and the launch of the HyreCar Auto Buying Program powered by TrueCar.
The TrueCar and HyreCar partnership addresses the vehicle purchase needs of drivers and owners that work in the mobility and transportation industry. HyreCar's innovative Mobility-as-a-Service (MaaS) marketplace generates tens of thousands of potential automotive purchase and rental leads per month. The partnership will leverage TrueCar's online vehicle research, trade-in, pricing, and innovative payment tools. TrueCar's 14,000 plus national dealer network will assist HyreCar customers to acquire a new or used vehicle or to sell or trade-in their vehicle. Additionally, the TrueCar Partnership will support HyreCar's Earn to Own™ program for qualified HyreCar customers.
Joe Furnari, CEO, HyreCar Inc stated, "HyreCar customers rent, sell and buy vehicles. The TrueCar partnership offers a seamless way to address this significant market in a relevant and effective manner for dealers and customers. Additionally, TrueCar helps create awareness that vehicle dealers can benefit from serving the Mobility-as-a-Service industry via HyreCar's platform." Mr. Furnari added that the partnership will potentially grow to include special OEM offers and dedicated vehicle finance solutions.
"We're excited to make car buying easier for HyreCar's car-sharing community and to help them in their journey to find a safe, reliable, and affordable vehicle that is not only used as a personal vehicle, but one that's also used to earn their livelihood," said Mike Darrow, President & CEO of TrueCar. "We are also very pleased to offer TrueCar dealer partners a new channel to sell and acquire vehicles through the HyreCar marketplace."
Brian Allan, SVP of HyreCar Inc. and former Galpin Motors' General Manager added, "From a dealer's perspective, I am excited about the TrueCar partnership because vehicle dealers are best suited to serve mobility customers and the entire dealer ecosystem benefits from this under-served customer segment."
The HyreCar Auto Buying Program can be accessed at https://hyrecar.truecar.com.
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
About HyreCar
HyreCar Inc. (NASDAQ: HYRE) is a national car-sharing marketplace for ridesharing, food, and package delivery via its proprietary technology platform. The Company has established a leading presence in Mobility as a Service (MaaS) through individual vehicle owners, dealers, rental agencies, and OEMs, that wish to participate in new mobility trends. By providing a unique opportunity through our safe, secure, and reliable marketplace, HyreCar is transforming the industry by empowering all to profit from Mobility as a Service. For more information please visit hyrecar.com.
TrueCar Public Relations Contact:
Shadee Malekafzali
shadee@truecar.com
424.258.8694
HyreCar Media Contact:
John Evans
Investor Relations
j.evans@hyrecar.com
415-309-0230
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SOURCE TrueCar, Inc.
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