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) is a leading digital automotive marketplace dedicated to providing transparency in the car buying process. Leveraging proprietary data and analytics, TrueCar connects consumers with a network of over 14,000 certified dealers. This expansive network allows users to access market-based pricing data on new, used, and certified pre-owned vehicles, helping them identify fair prices. TrueCar powers auto-buying programs for more than 500 companies, including USAA, AARP, and American Express, enhancing consumer confidence in the purchasing process.
TrueCar’s platform is designed to facilitate a seamless car shopping experience. Consumers visiting the marketplace can utilize various vehicle discovery tools, price ratings, and comprehensive market context. Once ready, they can connect with TrueCar Certified Dealers who share the company's commitment to transparency and fairness.
In recent developments, TrueCar has formed a significant partnership with Car and Driver, the largest automotive media brand globally. This collaboration aims to enhance the car shopping experience for millions of users, integrating TrueCar’s transparent pricing data with Car and Driver’s comprehensive vehicle reviews and testing insights.
Financially, TrueCar continues to report steady growth. For example, TrueCar announced its third-quarter financial results on November 6, 2023, revealing positive developments in its business operations. Additionally, the company is set to report its fourth-quarter results on February 20, 2024, and first-quarter results on April 29, 2024. These financial disclosures reflect TrueCar’s ongoing commitment to transparency and shareholder engagement.
TrueCar’s mission remains steadfast: to build the most personalized and efficient auto shopping experience by continually expanding its digital footprint and enhancing its service offerings. This commitment is evident in its extensive partnership network, which includes major financial institutions, membership-based organizations, and employee buying programs for large enterprises.
TrueCar, Inc. (NASDAQ: TRUE) announced its best end-of-month deals for September 2020, highlighting cash, lease, and finance incentives for various new and used vehicles. Inventory challenges persist due to production delays, but buyers can find average savings of 8% off MSRP for new models. Notable cash incentives include $19,018 on the Chevrolet Bolt and $8,532 on the Ford Expedition. Used vehicles show a month-over-month drop in list prices, with the Chevrolet Bolt and Nissan LEAF down 5.5% and 4.4%, respectively. TrueCar emphasizes the importance of flexibility in vehicle choices.
TrueCar, Inc. (NASDAQ: TRUE) announced a partnership with Audi to offer preferred pricing and exclusive incentives for military members on selected new Audi models through the TrueCar Military program. This offer, valid until January 4, 2021, provides verified military members with additional cash incentives ranging from $750 to $1,000. TrueCar Military also delivers up to $4,000 in military incentives, dealer discounts, and other benefits. The initiative aims to enhance the automotive purchasing experience for U.S. military personnel and their families, reinforcing TrueCar's commitment to its military customer base.
TrueCar, Inc. (NASDAQ: TRUE) has partnered with Audi to offer exclusive pricing and incentives for verified military members purchasing new Audi cars and SUVs. From now until January 4, 2021, eligible military members can access additional incentives ranging from $750 to $1,000 on select 2020 & 2021 models. The program aims to connect automakers with niche audiences and enhance the value proposition for military families. TrueCar Military provides extensive benefits, including up to $4,000 in incentives and dedicated customer service.
In September 2020, TrueCar projects new vehicle sales to reach 1,221,092 units, a 12% decrease year-over-year, with an estimated seasonally adjusted annualized rate (SAAR) of 14.8 million. Retail deliveries are forecasted at 1,111,397 units, representing a 6% decline. Average transaction prices are expected to rise by 3.5% year-over-year. Despite these declines, quarterly retail vehicle sales rose 27%, with used vehicle sales up 26% from Q2. Inventory levels remain low, impacting supply, while brands like Hyundai and Tesla are gaining market share.
TrueCar, Inc. (NASDAQ: TRUE) has introduced TrueCar Access, a complimentary digital retailing solution for franchise dealers, enhancing their capacity to offer Payments and Trade tools. This initiative follows a successful pilot with over 2,500 dealers, showcasing higher closing rates. Starting now, dealers can onboard, with a rollout to independent dealers anticipated by year-end. AutoNation plans to implement these tools across all 300 franchises, capitalizing on growing consumer demand for online car buying tools, where 76% prefer calculating payments online.
TrueCar has enhanced its executive leadership team by adding three new members and a new board member as part of a strategic restructuring. Kristin Slanina is appointed Chief Operating Officer, while Beth Mach becomes the Chief Consumer Officer. Elias Rokos has been promoted to Chief Technology Officer. Additionally, Barbara Carbone joins the Board of Directors. The changes aim to drive growth and improve consumer experience in automotive retail. CEO Mike Darrow emphasizes that these additions will strengthen the company’s innovative solutions and partnerships to attract more consumers.
TrueCar (NASDAQ: TRUE) has announced a new partnership with Military AutoSource, aimed at enhancing vehicle purchasing options for the U.S. military community. This collaboration will allow TrueCar to extend its services and exclusive benefits to military members and their families primarily located on U.S. bases. Benefits include bonus cash incentives from manufacturers, repair reimbursements, and a dedicated customer service hotline. TrueCar's Military Appreciation Package, which offers average savings of over $3,500 off MSRP, will also be part of this program.
TrueCar, Inc. (NASDAQ: TRUE) has announced its best deals for new and used vehicles ahead of Labor Day Weekend, highlighting significant average savings of 8% off MSRP on new vehicles. Incentives have increased for models like the Kia Optima and Ford EcoSport, with cash offers up 12% and 25% respectively. However, ongoing supply shortages impact inventory and incentive offers. TrueCar also notes a projected 4% year-over-year increase in used vehicle sales, with certain models gaining value. Consumers are encouraged to act quickly to secure deals amidst the competitive market.
TrueCar, a leading automotive digital marketplace, has released a study showing how Americans are using their cars for emotional and practical support during COVID-19. The study of 2,000 vehicle owners reveals that 73% use their cars as personal retreats. Key findings include that 56% appreciate leisurely drives, while emotional attachments to vehicles are significant, with two-thirds considering their car a friend. Despite the pandemic's constraints, car purchases are increasingly managed online, with 67% of buyers preferring dealers offering sanitization and digital processes.
TrueCar has partnered with Refuel Agency to boost brand awareness for its newly launched program, TrueCar Military, aimed at serving military personnel and their families. The initiative, which has already become the fastest-growing program in TrueCar's history, will utilize Refuel's expertise in military marketing for better audience insights and custom messaging. The partnership includes various strategies such as digital media placement and custom photography aimed at effectively reaching the military demographic. TrueCar Military offers significant benefits including cash bonuses and dealer discounts.
FAQ
What is the current stock price of TrueCar (TRUE)?
What is the market cap of TrueCar (TRUE)?
What is TrueCar, Inc.?
How does TrueCar ensure pricing transparency?
Who are some of TrueCar’s major partners?
What recent partnerships has TrueCar formed?
What are TrueCar Certified Dealers?
How does TrueCar support car buyers?
Where can I find TrueCar’s financial reports?
When will TrueCar report its next financial results?
How can I contact TrueCar for investor relations?
What is TrueCar’s mission?
