Truecar Inc

TrueCar, Inc. engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The firm's products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car. The company was founded by Thomas Taira, James Nguyen, Scott Painter and Bernard Brenner in February 2005 and is headquartered in Santa Monica, CA.

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TrueCar targets revenue growth and partnerships for 2023 success

TrueCar Inc aims for revenue growth and positive EBITDA by Q4 2023 through strategic initiatives.
Enhancements to TrueCar+ and new subscription packages drive recurring revenue growth.
Partnerships with NerdWallet and Mercedes-Benz strengthen brand awareness and expansion.
Focus on OpEx stability and growth initiatives to address industry challenges and opportunities.

TrueCar anticipates revenue growth and breakeven EBITDA in Q4

TrueCar's Q1 performance showed growth in unique visitors and strategic initiatives to drive revenue growth, despite challenges in the independent dealer count.
The company's strengths in innovation, personalized shopping experiences, and efficiency position them well for future growth and achieving breakeven or positive adjusted EBITDA.
While facing challenges in market conditions and dealer counts, TrueCar has opportunities to expand TrueCar+ solutions, focus on the used market, and drive revenue through conversion strategies.

TrueCar reports positive Q2 results, eyes EV market disruption

TrueCar's Q2 performance was strong, with a focus on revenue growth and operational efficiency.
The company's strategic streamlining and market positioning offer growth potential in EV sales.
Addressing challenges around revenue sustainability and dealer dynamics will be key for future success.

TrueCar surpasses Q3 guidance, targets sustainable growth and innovation

TrueCar's Q3 2023 performance exceeded expectations, with a focus on sustained revenue growth and positive free cash flow. The company aims to achieve aspirational revenue and free cash flow targets by 2026 through organic growth strategies and enhancing the digital transaction experience.
While facing challenges in returning to double-digit revenue growth and managing cash balances, TrueCar is well-positioned to capitalize on opportunities in regaining lost dealers, expanding services, and strengthening partnerships. The rollout of the United flow and emphasis on operational efficiency highlight TrueCar's strategic direction.

TrueCar reports strong Q4 growth, eyes revenue targets and dealer expansion

TrueCar's Q4 performance reflects steady growth, strategic initiatives, and a focus on long-term profitability.
While facing challenges in monetization and competition, the company is well-positioned to leverage opportunities for expansion and revenue growth.
Overall, TrueCar's proactive approach to addressing industry challenges and driving value for stakeholders bodes well for its future success.

TrueCar reports robust Q1 growth, faces industry reluctance on TrueCar+

TrueCar's Q1 performance showed strong revenue growth and positive adjusted EBITDA, with a focus on dealer activation and revenue per dealer.
Challenges include short-term fluctuations in OEM incentive revenue and industry reluctance towards TrueCar+ impact.
Opportunities lie in expanding TrueCar+ pilot, refining processes, and scaling operations in California and nationwide.

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Many dealerships were already exceptions to the rule, but on average, the U.S. auto retail industry is notoriously behind the times in offering entirely online transactions.

Virus May Give Online Car Buying A Shot In The Arm

SANTA MONICA, Calif., March  27, 2020  (GLOBE NEWSWIRE) -- ALG, a subsidiary of TrueCar, and the industry benchmark for determining the future resale value of a vehicle, projects total new vehicle sales will reach 941,735 units in March 2020, down 37% from a year ago when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 10.7 million units. Excluding fleet sales, ALG expects U.S. retail deliveries of new cars and light trucks to be 656,343 units, a decrease of 38% from a year ago when adjusted for the same number of selling days.

TrueCar’s ALG Forecasts New Car Auto Sales for March 2020 and the First Quarter

SANTA MONICA, Calif., March  26, 2020  (GLOBE NEWSWIRE) --  TrueCar , Inc., the most efficient and transparent online destination to find a car, today launched “Buy from Home” badging as an immediate solution designed to help consumers and dealers safely and remotely navigate car buying in response to social distancing guidelines during COVID-19.

TrueCar Badges ‘Buy from Home’ Car Buying Features Offered by Network Dealers to Help Consumers Identify Remote Buying Options

Industry analyst sees 2020 U.S. sales as low as 11.2 million units, down from original forecasts of 16.9 million units prior to the COVID-19 outbreak.

TrueCar Forecasts Auto Sales Could Fall as Much as 34% Due to Coronavirus

ALG to Provide Weekly Forecast Updates ALG to Provide Weekly Forecast Updates

ALG Revises 2020 New Vehicle Sales Forecast Scenarios Based on Latest Impact of COVID-19

A big bet by the new CEO is giving investors confidence.

Why TrueCar's Shares are Up -- Yes, Up -- Today

Reduces Residual Values to Reflect Slowdown in Latest Release Reduces Residual Values to Reflect Slowdown in Latest Release

ALG Provides Updated 2020 New Vehicle Sales Forecast Based on Projected Short-Term and Long-Term Impact of COVID-19

The company's plan to recover and grow attracted bargain-minded investors.

Why TrueCar's Shares Jumped on Friday

SANTA MONICA, Calif., March  10, 2020  (GLOBE NEWSWIRE) --  TrueCar , Inc. (NASDAQ: TRUE) announced today that Mike Darrow has been appointed President and Chief Executive Officer of TrueCar, Inc., and will assume a seat on TrueCar’s Board of Directors.

Mike Darrow Named President and Chief Executive Officer of TrueCar

SANTA MONICA, Calif., March  03, 2020  (GLOBE NEWSWIRE) --  TrueCar , the most efficient online platform to find a car, (NASDAQ:  TRUE ) and its data and analytics subsidiary,  ALG , project average transaction prices (ATP) to be up 2.0% or $701 from a year ago and down 1.0% or $360 from January 2020.

TrueCar’s ALG Forecasts Average New Car Transaction Price to Reach $35,538 up 2.0% Year Over Year for February 2020

SANTA MONICA, Calif., Feb.  26, 2020  (GLOBE NEWSWIRE) --  TrueCar , the most efficient online platform to find a car, (NASDAQ:  TRUE ) and its data and analytics subsidiary,  ALG , project total new vehicle sales will reach 1,373,516 units in February 2020, up 0.2% from a year ago when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 17.1 million units. Excluding fleet sales, ALG expects U.S. retail deliveries of new cars and light trucks to be 1,081,996 units, an increase of 1.2% from a year ago when adjusted for the same number of selling days.

TrueCar’s ALG Forecasts New Car Auto Sales Up Slightly for February 2020 with Used Auto Sales up 6%

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A decent earnings report was overshadowed by the loss of a key partnership.

Why Shares of TrueCar Are Slumping Today

The partner refers 29% of TrueCar's sales.

TrueCar Earnings Beat Expectations, but a Key Partner Is Departing

TrueCar, Inc. (TRUE) CEO Mike Darrow on Q4 2019 Results - Earnings Call Transcript

TrueCar Inc. TRUE, +2.89% shares tanked 19.7% in extended trading Thursday after the automotive pricing and information website reported fourth-quarter earnings that were shy of Wall Street estimates.

TrueCar's stock tanks nearly 20% on widening loss, lower revenue

Innovation Awards are presented in the Design, Technology, Powertrain, and Convenience Categories and will be presented to the winners ahead of the Canadian International Auto Show in Toronto. Innovation Awards are presented in the Design, Technology, Powertrain, and Convenience Categories and will be presented to the winners ahead of the Canadian International Auto Show in Toronto.

ALG Recognizes Canada’s Most Innovative Vehicles of 2020

Hyundai Sonata and Chevrolet Corvette win top honors Hyundai Sonata and Chevrolet Corvette win top honors

ALG Announces the Best Vehicle Redesigns of 2020

Automakers Expected to Reach More Than $39B in Revenue Automakers Expected to Reach More Than $39B in Revenue

TrueCar’s ALG Forecasts Average New Car Transaction Price to Reach $35,521, up 2.0% Year Over Year for January 2020

Women play a leading role in more than 80% of car purchases. TrueCar is trying to corner the market, with a Pentagram-led brand revamp.

TrueCar’s redesign targets the people who really buy cars—women

Intuitive Car Buying and Discovery Experience Designed for the Way Modern Consumers Shop Today Intuitive Car Buying and Discovery Experience Designed for the Way Modern Consumers Shop Today

TrueCar Launches New Product and Brand

TrueCar is going to impressive new lengths to change the way it does business...and the way car buyers perceive it.

TrueCar Launches New Way Of Doing Business; Will This Change Work Wonders?

SANTA MONICA, Calif., Jan.  28, 2020  (GLOBE NEWSWIRE) --   TrueCar , Inc.’s (NASDAQ:  TRUE ) data and analytics subsidiary,  ALG , projects total new vehicle sales will reach 1,099,510 units in January 2020, down 2.9% from a year ago. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 16.5 million units. Excluding fleet sales, ALG expects U.S. retail deliveries of new cars and light trucks to be 887,729 units, a decrease of 0.8% from a year ago.

TrueCar’s ALG Forecasts New Car Auto Sales Remain Steady, Down Slightly for January 2020

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ALG’s 2019 Forecast within 0.01% of Actual New Vehicle Sales ALG’s 2019 Forecast within 0.01% of Actual New Vehicle Sales

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