Truecar Inc Stock Price, News & Analysis

TrueCar, Inc. reported Q2 2021 financial results showing total revenue of $65.8 million, marking a 1.0% increase from the previous quarter and a 12.3% rise year-over-year. The company recorded a loss of $(7.1) million or $(0.07 per share, an improvement from a loss of $(11.4) million in Q2 2020. Adjusted EBITDA stood at $4.7 million with a margin of 7.2%. Unique visitors grew by 16.1% to 9.6 million, and unit sales increased 3.0%. However, guidance for Q3 2021 remains uncertain due to industry inventory shortages.

TrueCar, Inc. (NASDAQ: TRUE) has partnered with AutoFi to enhance the auto financing experience for consumers. This collaboration aims to streamline the financing process directly through TrueCar's marketplace, enabling users to apply for financing after configuring payments. Consumers can compare offers from various lenders and select options that suit their needs. This initiative reinforces TrueCar's commitment to improving the car-buying experience as it integrates more of the purchasing process online.

TrueCar forecasts total new vehicle sales of 1,292,064 units in July 2021, reflecting a 1% increase year-over-year but an 8% decrease compared to June 2021. The estimated seasonally adjusted annualized rate (SAAR) for total light vehicle sales is 14.7 million. Retail deliveries are expected at 1,171,277 units, roughly stable year-over-year but down 7% from June. Transaction prices are projected to rise 5% year-over-year, indicating pressure on new car inventory and increased used car prices.

TrueCar (NASDAQ:TRUE) will announce its financial results for the second quarter, ending June 30, 2021, on August 5, 2021, after market close. A conference call will occur at 4:30 p.m. ET to discuss these results, led by CEO Mike Darrow and CFO Jantoon Reigersman. Investors can access a live webcast via the company's investor relations page. The call will also be available for replay until August 12, 2021. TrueCar is a prominent automotive digital marketplace, connecting buyers with Certified Dealers for an efficient car purchasing experience.

TrueCar, Inc. (NASDAQ: TRUE) highlighted notable cash, lease, and finance deals for new cars in July 2021. With ongoing inventory shortages, TrueCar identifies significant savings opportunities, particularly in the compact segment. Top cash deals include the Chevrolet Bolt EV with 16% off MSRP and the Dodge Journey with similar savings. For leasing, the Nissan LEAF offers 35% savings, while financing options showcase the Nissan Murano saving 15%. TrueCar's analysis aims to guide consumers through the best available offers in the current market.

TrueCar forecasts that total new vehicle sales will hit 1,287,536 units in June 2021, marking a 16% increase year-over-year but a 16% decrease from May 2021. The seasonally adjusted annualized rate (SAAR) is estimated at 15.2 million, up from 13.0 million in June 2020. Retail deliveries, excluding fleet sales, are expected to be 1,133,299 units, an 11% increase year-over-year but a 17% decline from the previous month. The ongoing chip shortage is affecting inventory levels, resulting in lower incentives and higher transaction prices.

TrueCar, Inc. (NASDAQ: TRUE) released its list of the best cash, lease, and finance deals on new vehicles for June 2021. The company highlights the ongoing challenges in the new car market due to part shortages, affecting inventory and deals. Key cash savings include up to 29% off the MSRP for the Chevrolet Bolt EV. In leasing, the Cadillac XT6 offers 16% savings, while financing deals present savings up to 15% on the INFINITI QX50. TrueCar emphasizes the importance of acting quickly in a competitive market for prospective buyers.

TrueCar forecasts total new vehicle sales for May 2021 at 1,509,221 units, marking a 36% increase year-over-year and stable compared to April 2021. The projected seasonally adjusted annual rate (SAAR) is 16.2 million, up from 12.1 million a year prior. Retail deliveries are expected to reach 1,379,623 units, a 35% rise year-over-year. Despite challenges such as the global microchip shortage, demand remains strong. Incentive spending is anticipated to be below $3,000, down nearly 30% compared to last year.

TrueCar, Inc. (NASDAQ: TRUE) has released its top cash, lease, and finance deals for May 2021, highlighting the impact of a global microchip shortage on vehicle supply. Despite strong demand for vehicles leading to minimal incentives, several models in the compact segment offer significant savings. Notable cash deals include the Chevrolet Bolt EV, with average savings of 31%. Lease and finance options also show promising offers, with the Hyundai Venue and Dodge Durango providing savings of 13% and 13% respectively. Pricing information is based on transaction data as of May 18, 2021.