Welcome to our dedicated page for Truecar news (Ticker: TRUE), a resource for investors and traders seeking the latest updates and insights on Truecar stock.
TrueCar Inc. (NASDAQ: TRUE) operates a leading digital automotive marketplace focused on transparent pricing and data-driven consumer experiences. This news hub provides investors and industry observers with essential updates on corporate developments, financial performance, and strategic initiatives shaping the automotive retail sector.
Access official press releases covering quarterly earnings, dealer network expansions, technology partnerships, and product innovations. Our curated news collection enables stakeholders to track TrueCar's progress in transforming vehicle purchasing through advanced analytics and certified dealer connections.
Key updates include financial disclosures, leadership announcements, platform enhancements, and affinity partnership developments. All content is sourced from verified corporate communications to ensure reliability and compliance with financial reporting standards.
Bookmark this page for streamlined access to TrueCar's latest business milestones and market-moving announcements. Regularly updated to reflect new developments in automotive e-commerce and consumer empowerment initiatives.
TrueCar has appointed Rich DiStefano as the new Senior Vice President of Product, tasked with enhancing product strategy to drive consumer engagement and efficiency. Reporting to CEO Mike Darrow, DiStefano brings extensive experience from Fortune 500 companies, including Walmart and Hilton. His leadership is expected to support the innovation of TrueCar+, aimed at modernizing the online car buying experience. DiStefano expressed enthusiasm about leveraging his skills to improve personalization and remove friction in the car buying process.
TrueCar forecasts total new vehicle sales in November 2021 to reach 1,073,042 units, representing a 15% year-over-year decline but a 14% increase from October 2021. The seasonally adjusted annualized rate (SAAR) for light vehicle sales is estimated at 13.7 million, down 12% from last year. U.S. retail deliveries are expected to hit 971,021 units, a 16% drop year-on-year but a 16% increase from the previous month. Average transaction prices are projected to rise 9% year-on-year, with incentives at their lowest since 2005.
TrueCar, Inc. (NASDAQ: TRUE) introduces its top cash, lease, and finance deals for new cars as of November 2021. The report highlights a general decline in average incentive spending due to a microchip shortage, while noting a slight increase in financing incentives. Key deals include:
- Nissan Rogue: Avg. MSRP $32,527, Avg. Paid $30,793, savings of 7%.
- Kia Forte: Avg. MSRP $22,421, Avg. Paid $20,427, savings of 18%.
- Chevrolet Traverse: Avg. MSRP $42,543, Avg. Paid $40,009, savings of 13%.
This information aims to help consumers find the best deals in a competitive market.
TrueCar, Inc. (NASDAQ: TRUE) partnered with DAV and AutoNation to award Colonel Greg Gadson a customized Chevrolet SUV through its DrivenToDrive initiative, aimed at assisting injured veterans. The ceremony took place at an AutoNation dealership in Phoenix, AZ. Col. Gadson, a decorated Army commander and bilateral amputee, emphasized the initiative's importance for veterans' recovery and independence. TrueCar's DrivenToDrive initiative, launched in 2016, supports veterans by helping them regain mobility. The collaboration underscores a commitment to empowering disabled veterans.
TrueCar, Inc. (NASDAQ:TRUE) reported its third-quarter financial results for the period ending September 30, 2021, in its first-ever stockholder letter. The company focuses on enhancing the auto buying experience through a digital marketplace connecting consumers with Certified Dealers. A conference call to discuss the results will be held on November 4, 2021, at 9:00 a.m. ET. TrueCar's approach centers on transparency and efficiency in car purchasing, serving over 250 leading brands including AARP and American Express.
TrueCar, Inc. (NASDAQ:TRUE) has appointed Faye Iosotaluno, Chief Strategy Officer at Match Group, to its Board of Directors, expanding the board to nine members, including three women. Iosotaluno brings extensive experience from her roles at Match Group and SoundCloud. TrueCar's CEO, Mike Darrow, expressed enthusiasm for her insights, emphasizing how her expertise in digital platforms will support the company's goal of enhancing the online car buying experience. TrueCar aims to create a transparent marketplace connecting buyers with certified dealers across the United States.
TrueCar forecasts total new vehicle sales at 1,054,312 units for October 2021, reflecting a 20% decline year-over-year and a 3% decrease from September 2021. The seasonally adjusted annualized rate for light vehicle sales is estimated at 13 million, also down 20% from October 2020. Retail deliveries are projected at 945,027 units, facing similar declines. However, average transaction prices rise 8% year-over-year. New vehicle inventory shows slight improvement while demand remains strong, with average interest rates at 4.3% for new vehicles.
TrueCar, Inc. (NASDAQ:TRUE) is set to release its third-quarter financial results on November 3, 2021, after market close. This announcement will be made via the company's inaugural stockholder letter, accessible on their Investor Relations webpage. A conference call to discuss the results is scheduled for November 4, 2021, at 9:00 a.m. Eastern Time, with a live webcast also available on the website.
TrueCar, Inc. (NASDAQ: TRUE) recently announced its best cash, lease, and finance deals on new vehicles for October 2021. Despite the ongoing microchip shortage affecting the automotive industry, TrueCar highlights opportunities for savings. The average cash offers on models, such as the Jeep Renegade and Chevrolet Equinox, demonstrate savings of up to 10% off MSRP. TrueCar's data-driven approach ensures consumers can identify competitive deals amidst reduced overall incentive spending.
TrueCar forecasts total new vehicle sales will reach 1,007,396 units in September 2021, down 25% year-over-year and down 8% from August. The estimated seasonally adjusted annualized rate (SAAR) is 12.2 million, a 25% decline from last September. Retail deliveries of new cars are expected to be 899,072 units, reflecting a 26% decrease compared to last year. Incentive spending has decreased by 42%, with average transaction prices increasing by 8%. The report highlights industry-wide challenges, particularly ongoing chip shortages impacting OEM sales.
