Truecar Inc - TRUE STOCK NEWS

TrueCar, Inc. forecasts August 2021 new vehicle sales at 1,212,399 units, down 4% year-over-year but up 1% from July 2021. The estimated SAAR for total light vehicle sales is 14.4 million, a 4% decline from last year. U.S. retail deliveries are expected to be 1,077,701 units, down 7% year-over-year. The chip shortage continues to impact vehicle availability, leading to historically low incentive spending. Despite declines, some brands like Toyota saw year-over-year increases. Average transaction prices are projected to rise 6% year-over-year.

On August 23, 2021, TrueCar (NASDAQ: TRUE) released its list of the best cash, lease, and finance deals for new vehicles in August. The report highlights a continuing decline in average incentive spending across the automotive industry due to low inventory stemming from microchip shortages. TrueCar's analysis reveals that almost 90% of car models have lower cash incentives than in August 2020, with luxury vehicles and pickups facing smaller reductions. The company suggests savvy consumers can find significant savings by leveraging their data-driven assessments.

TrueCar, Inc. reported Q2 2021 financial results showing total revenue of $65.8 million, marking a 1.0% increase from the previous quarter and a 12.3% rise year-over-year. The company recorded a loss of $(7.1) million or $(0.07 per share, an improvement from a loss of $(11.4) million in Q2 2020. Adjusted EBITDA stood at $4.7 million with a margin of 7.2%. Unique visitors grew by 16.1% to 9.6 million, and unit sales increased 3.0%. However, guidance for Q3 2021 remains uncertain due to industry inventory shortages.

TrueCar, Inc. (NASDAQ: TRUE) has partnered with AutoFi to enhance the auto financing experience for consumers. This collaboration aims to streamline the financing process directly through TrueCar's marketplace, enabling users to apply for financing after configuring payments. Consumers can compare offers from various lenders and select options that suit their needs. This initiative reinforces TrueCar's commitment to improving the car-buying experience as it integrates more of the purchasing process online.

TrueCar forecasts total new vehicle sales of 1,292,064 units in July 2021, reflecting a 1% increase year-over-year but an 8% decrease compared to June 2021. The estimated seasonally adjusted annualized rate (SAAR) for total light vehicle sales is 14.7 million. Retail deliveries are expected at 1,171,277 units, roughly stable year-over-year but down 7% from June. Transaction prices are projected to rise 5% year-over-year, indicating pressure on new car inventory and increased used car prices.

TrueCar (NASDAQ:TRUE) will announce its financial results for the second quarter, ending June 30, 2021, on August 5, 2021, after market close. A conference call will occur at 4:30 p.m. ET to discuss these results, led by CEO Mike Darrow and CFO Jantoon Reigersman. Investors can access a live webcast via the company's investor relations page. The call will also be available for replay until August 12, 2021. TrueCar is a prominent automotive digital marketplace, connecting buyers with Certified Dealers for an efficient car purchasing experience.

TrueCar, Inc. (NASDAQ: TRUE) highlighted notable cash, lease, and finance deals for new cars in July 2021. With ongoing inventory shortages, TrueCar identifies significant savings opportunities, particularly in the compact segment. Top cash deals include the Chevrolet Bolt EV with 16% off MSRP and the Dodge Journey with similar savings. For leasing, the Nissan LEAF offers 35% savings, while financing options showcase the Nissan Murano saving 15%. TrueCar's analysis aims to guide consumers through the best available offers in the current market.

TrueCar forecasts that total new vehicle sales will hit 1,287,536 units in June 2021, marking a 16% increase year-over-year but a 16% decrease from May 2021. The seasonally adjusted annualized rate (SAAR) is estimated at 15.2 million, up from 13.0 million in June 2020. Retail deliveries, excluding fleet sales, are expected to be 1,133,299 units, an 11% increase year-over-year but a 17% decline from the previous month. The ongoing chip shortage is affecting inventory levels, resulting in lower incentives and higher transaction prices.

TrueCar, Inc. (NASDAQ: TRUE) released its list of the best cash, lease, and finance deals on new vehicles for June 2021. The company highlights the ongoing challenges in the new car market due to part shortages, affecting inventory and deals. Key cash savings include up to 29% off the MSRP for the Chevrolet Bolt EV. In leasing, the Cadillac XT6 offers 16% savings, while financing deals present savings up to 15% on the INFINITI QX50. TrueCar emphasizes the importance of acting quickly in a competitive market for prospective buyers.