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 (NASDAQ: TRUE) has announced a new auto financing pre-qualification experience in collaboration with Capital One and Westlake Financial. This service aims to improve consumer confidence and streamline the car-buying process by allowing eligible shoppers to pre-qualify for financing through participating lenders. According to a TrueCar survey, 76% of vehicle shoppers prefer calculating personalized payments online. The initiative will be available through TrueCar Certified Dealers nationwide for both new and used vehicles, reinforcing TrueCar's commitment to transparency and efficiency in the car shopping experience.
TrueCar, Inc. (NASDAQ: TRUE) released its best cash, lease, and finance deals for new vehicles in September 2021, emphasizing significant savings despite ongoing inventory shortages due to global microchip production issues. Notable deals include the Buick Enclave, with an average cash offer of $44,921, yielding a 10% savings off the MSRP. The analysis highlights price reductions across various vehicle segments, helping consumers navigate the current market and maximize savings. TrueCar continues to refine its data-driven approach to identify exceptional deals amidst industry challenges.
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.
