TrueCar Expands Its Digital Automotive Marketplace, TrueCar+, to Five Additional States

Rhea-AI Summary

TrueCar is expanding its TrueCar+ platform into five new states: Alabama, Georgia, North Carolina, South Carolina, and Tennessee. This expansion follows its successful launch in Florida, where it offers nearly 10,000 vehicle listings. Enhancements to TrueCar+ include finance and insurance menus and communication tools, aimed at improving customer experience. A survey reveals that 62% of vehicle shoppers prefer to complete transactions online, indicating strong market demand. The company aims to leverage these capabilities to boost sales and provide a seamless purchasing experience.

Positive

• Expansion of TrueCar+ into five new states enhances market presence.
• Nearly 10,000 vehicle listings available, indicating strong inventory.
• 62% of vehicle shoppers prefer online transactions, showing demand for digital solutions.
• New features like finance menus and communication tools improve user experience.

Negative

• None.

With nearly 10,000 TrueCar+ listings across Florida in less than a year, the company broadens market coverage across the Southeast: Alabama, Georgia, North Carolina, South Carolina and Tennessee for new and used vehicles 

SANTA MONICA, Calif., Nov. 3, 2022 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the easiest, most efficient, and transparent online destination for buying and selling new and used vehicles, is expanding coverage of TrueCar+, its online car buying platform, into five new states—Alabama, Georgia, North Carolina, South Carolina and Tennessee. This expansion of the platform into the Southeast is part of the national roll out plan for TrueCar+, which was originally launched and well-received in Florida.

In addition to launching in the new states, the company has added new capabilities to TrueCar+ that enhance the experience for dealers and consumers participating in the marketplace. These capabilities include comprehensive finance and insurance (F&I) and accessories menus, communication tools and nationwide delivery, among others.

"This expansion demonstrates our commitment to delivering a modern marketplace that brings the car buying experience online," said Mike Darrow, President and CEO at TrueCar. "From our research, we know consumers want a convenient, personalized digital shopping experience, and we want to help dealers meet consumers where they are with their shopping preferences."

According to a survey commissioned by TrueCar, nearly two-thirds (62%) of vehicle shoppers say they would be somewhat or extremely likely to complete their vehicle purchase transaction online.

Nearly 100 dealers in Florida are already enrolled in the program with almost 10,000 new, used and certified pre-owned vehicles in inventory, representing all major brands. "TrueCar+ allows us to reach more customers online from all over the country and be able to offer a seamless and transparent purchase experience. We can now compete with all digital retailing solutions and reach a vast majority of clients," said Ray Kahn, Internet Manager at Gettel Acura. Dealers in the five expansion states who are interested in learning more or enrolling in the program can visit https://dealerportal.truecar.com/dealer/plus.

TrueCar is taking the lead in improving the way vehicle transactions are being done, making it more efficient, transparent and confidence-inducing for both dealers and consumers. With the technology in place and a strong network of dealer partners, TrueCar+ gives consumers the flexibility to complete more of the car buying process online, providing dealers with higher-quality buyers who are ready to complete a purchase. With new solutions for acquiring quality used inventory directly from consumers, gaining exposure beyond an immediate market and offering delivery and logistics for fulfilling orders, we believe TrueCar+ will enable dealers to boost sales.

About TrueCar

TrueCar is a leading automotive digital marketplace that lets auto buyers and sellers connect to our nationwide network of Certified Dealers. With access to an expansive inventory provided by our Certified Dealers, we are building the industry's most personalized and efficient auto shopping experience as we seek to bring more of the process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new, used and Certified Pre-Owned vehicles. When they are ready, shoppers in TrueCar's marketplace can connect with a Certified Dealer in our network, who shares our belief that truth, transparency and fairness are the foundation of a great auto shopping experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union and American Express.

For more information, please visit www.truecar.com, and follow us on LinkedIn, Facebook or Twitter. TrueCar media email: pr@truecar.com

 

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SOURCE TrueCar.com

FAQ

What states is TrueCar expanding to with TrueCar+?

TrueCar is expanding TrueCar+ to Alabama, Georgia, North Carolina, South Carolina, and Tennessee.

What features have been added to TrueCar+?

TrueCar+ now includes comprehensive finance and insurance menus, communication tools, and nationwide delivery capabilities.

What percentage of vehicle shoppers prefer online transactions according to TrueCar's survey?

According to TrueCar's survey, 62% of vehicle shoppers say they would prefer to complete their vehicle purchase transaction online.

How many vehicle listings does TrueCar have in Florida?

TrueCar has nearly 10,000 vehicle listings in Florida.

What is the primary goal of TrueCar's expansion?

The primary goal of TrueCar's expansion is to enhance the online car buying experience and capture a larger market share.