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 (NASDAQ:TRUE) announced its fourth quarter financial results for 2021 in a stockholder letter on February 22, 2022. The detailed letter is accessible on their investor relations website. A live question and answer session is scheduled for February 23, 2022, at 9:00 a.m. ET to discuss these results. TrueCar positions itself as a leading auto marketplace connecting buyers with Certified Dealers, enhancing the auto-buying experience through transparency and efficiency.
TrueCar, Inc. (NASDAQ: TRUE) announced that starting today, stockholders can submit and upvote questions for the Q4 2021 earnings call. The initiative utilizes Say Connect from Say Technologies to enhance stockholder engagement. Questions can be submitted until February 22, 2022, at 9:00 a.m. ET. The earnings call is scheduled for February 23 at 9:00 a.m. ET, where management will address selected stockholder queries. Investors can register for a live webcast of the call, with an archived replay available on the Investor Relations section of TrueCar's website.
TrueCar, Inc. will report its fourth quarter 2021 financial results on February 22, 2022, after market close via a stockholder letter available on their Investor Relations website. A related earnings call will be hosted on February 23, 2022, at 9:00 a.m. ET, featuring CEO Mike Darrow and CFO Jantoon Reigersman. The call will include a Q&A platform for stockholders starting February 16. TrueCar provides an online automotive marketplace connecting buyers with Certified Dealers, promoting transparency and a seamless car buying experience.
TrueCar, Inc. forecasts total new vehicle sales for January 2022 at 1,006,325 units, reflecting a 9% decline year-over-year and 7% from December 2021. The seasonally adjusted annualized rate (SAAR) is estimated at 15.3 million units. Retail deliveries are anticipated to reach 893,077 units, down 10% from last year. Despite a slight decrease in transaction prices and improving supply conditions, the ongoing chip shortage remains a challenge. Total sales in 2022 are expected at 15.4 million units.
TrueCar, Inc. (NASDAQ:TRUE) announced that CEO Mike Darrow will participate in a fireside chat at the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 2:45 p.m. Eastern. This event will be accessible via live webcast and replay on TrueCar's Investor Relations website for 90 days following the event. TrueCar provides an online automotive marketplace connecting buyers with Certified Dealers, emphasizing transparency and efficiency in the car buying process.
TrueCar forecasts new vehicle sales will decline by 27% year-over-year to 1,144,108 units in December 2021, matching November's performance when adjusted for selling days. The seasonally adjusted annualized rate (SAAR) is expected to be 11.9 million units, also down 27% from December 2020. Retail deliveries are set at 1,024,263 units, down 27% annually. Fleet sales are anticipated to drop by 29%, while the average transaction price will rise by 7.5%. Incentive spending decreased by 55% compared to last year, indicating tighter market conditions.
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.
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