SANTA
MONICA, Calif., July 17,
2024 /PRNewswire/ -- TrueCar, Inc. (NASDAQ:
TRUE), the most trusted digital automotive marketplace, today
proudly announces the launch of the next evolution of
TrueCar+ (www.truecar.com/plus), which now empowers
consumers – for the first time – to purchase from over 3,200 new,
used, and certified pre-owned vehicles from start to finish
completely online.
Whereas other online car shopping platforms are limited to used
vehicles only, do not include key purchasing steps, or are
exclusive to a single brand, TrueCar+ offers a seamless
buying solution that combines TrueCar's comprehensive vehicle data,
trusted pricing information, and new and used car inventory from
over eleven different brands with a full end-to-end purchasing
process that includes trade-in, financing, and delivery.
TrueCar+ advances the company's mission to eliminate the
traditional complexities and uncertainties associated with buying a
car, providing consumers with a more informed and straightforward
journey from search to a completely online purchase.
True to our business model, we partner directly with dealers and
bring value to their operations by empowering them to leverage our
marketplace to effectively extend their sales efforts 24/7,
streamline their workflow, and grow their target market from a
constrained local focus to a nationwide consumer base.
Key Features of the New
TrueCar+:
- Shop New, Used, and Certified Pre-Owned Inventory: Car
buyers are able to shop an extensive inventory of new and pre-owned
vehicles. Whether searching for a brand-new model or a reliable
used car, buyers can explore a wide range of options tailored to
their needs and preferences. TrueCar plans to expand TrueCar+
inventory through the strategic addition of more dealerships across
the country over the next 12 months.
- Transparent Pricing: With TrueCar+, consumers can get
firm upfront price offers on any vehicle in stock. This
transparency extends to all aspects of the car buying process,
including financing options and trade-in values, ensuring that
consumers can make informed decisions with confidence.
- Convenient Online Financing: TrueCar+ enables dealers to
offer a variety of online financing solutions directly through its
platform, allowing buyers to compare rates, get pre-approved, and
secure competitive loans without leaving the comfort of their
homes. This eliminates the need for multiple dealership visits and
streamlines the buying process.
- Trade-In Options: TrueCar+ simplifies the trade-in
process by providing guaranteed instant trade-in values and offers
without the need for time-consuming in-person vehicle inspections.
Consumers can quickly and easily understand the value of their
current vehicle and apply it towards their new purchase, making it
an easy and seamless experience. Consumers can arrange pick-up of
their trade-in online through TrueCar+.
- Seamless Home Delivery: TrueCar+ features a home
delivery service, enabling consumers to complete the entire
purchase process online and have their vehicle delivered directly
to their doorstep. Used vehicles are available for delivery
throughout the contiguous United
States, excluding Massachusetts and New York. Initially, new vehicles will be
available for delivery only in the San
Francisco Bay Area. We expect the delivery area to rapidly
expand to cover all of California.
- Accessories, Services, and Customer Support: TrueCar+
enables the dealer to offer an extensive online selection of
compatible accessories, additional warranties, maintenance
packages, and protection products that consumers can add on during
the online checkout process. In addition, TrueCar+ car shoppers
benefit from dedicated customer service support, resulting in a
smoother, more worry-free car buying and ownership experience.
"TrueCar's mission is to make the car buying process as
convenient and transparent as possible. With the launch of
TrueCar+, we are excited to bring a new level of ease,
confidence, and value to car buyers," said Jantoon Reigersman, CEO
of TrueCar. "Our mission is to empower consumers with the tools and
information they need to make confident car buying decisions. This
iteration of TrueCar+ represents a major milestone in achieving
this goal by empowering people to buy a car fully online from the
comfort of their home or wherever they may be."
Forward-Looking Statements
This press release contains
forward-looking statements. All statements contained in this press
release other than statements of historical fact are
forward-looking statements, including statements regarding the
expansion of our TrueCar+ offering, including the geographic
expansion and timing thereof and expansion through the addition of
participating dealers and inventory as well as our ability to
eliminate traditional complexities and uncertainties associated
with car buying. These forward-looking statements are subject to a
number of risks, uncertainties and assumptions that may prove
incorrect, any of which could cause our results to differ
materially from those expressed or implied by such forward-looking
statements, and include, among others, those risks and
uncertainties described under the heading "Risk Factors" in our
Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and
Exchange Commission, or SEC, our Quarterly Report on Form 10-Q for
the quarter ended March 31, 2024
filed with the SEC and our quarterly report on Form 10-Q for the
quarter ended June 30, 2024, to be
filed with the SEC. Moreover, we operate in a very competitive and
rapidly changing environment. New risks emerge from time to time.
It is not possible for our management to predict all risks, nor can
management assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements we may make. All forward-looking
statements in this press release are based on information available
to our management as of the date of this press release and, except
as required by law, management assumes no obligation to update
those forward-looking statements, which speak only as of their
respective dates.
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.
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SOURCE TrueCar