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) operates a leading digital automotive marketplace focused on transparent pricing and data-driven consumer experiences. This news hub provides investors and industry observers with essential updates on corporate developments, financial performance, and strategic initiatives shaping the automotive retail sector.
Access official press releases covering quarterly earnings, dealer network expansions, technology partnerships, and product innovations. Our curated news collection enables stakeholders to track TrueCar's progress in transforming vehicle purchasing through advanced analytics and certified dealer connections.
Key updates include financial disclosures, leadership announcements, platform enhancements, and affinity partnership developments. All content is sourced from verified corporate communications to ensure reliability and compliance with financial reporting standards.
Bookmark this page for streamlined access to TrueCar's latest business milestones and market-moving announcements. Regularly updated to reflect new developments in automotive e-commerce and consumer empowerment initiatives.
TrueCar, Inc. (NASDAQ: TRUE) forecasts total new vehicle sales of 1,067,763 units for January 2023, reflecting a 6.5% year-over-year increase but a 6.6% decline from December 2022. The seasonally adjusted annualized rate (SAAR) for sales is expected at 16 million, up 7% from January 2022. Retail deliveries, excluding fleet sales, are projected at 895,491 units, down 1% year-over-year. Rising vehicle prices persist, though inventory increases have moderated mark-ups on high-demand models. Fleet sales are anticipated to surge 74% year-over-year, indicative of strong demand despite overall sales fluctuations.
TrueCar, Inc. (NASDAQ:TRUE) announced that its President and CEO, Mike Darrow, will participate in a virtual fireside chat during the 25th Annual Needham Growth Conference on January 12, 2023, at 2:15 PM Eastern (11:15 AM Pacific). The event will be available for live streaming and replay for up to 30 days via the LINK and TrueCar's Investor Relations website. TrueCar is an online platform facilitating the buying and selling of vehicles, connecting consumers with Certified Dealers.
TrueCar, Inc. (NASDAQ: TRUE) forecasts December 2022 new vehicle sales to reach 1,275,694 units, a 4.5% increase from the previous year. The estimated seasonally adjusted annual rate for light vehicle sales is 13.3 million, up 3%. Retail deliveries are expected to be 1,096,411 units, nearly unchanged year-over-year. Fleet sales anticipate a 46% rise from last year. The average new vehicle transaction price is projected to be up 2%. However, used vehicle sales may drop 10% from last year, alongside an increase in average interest rates for new (6.7%) and used (10%) vehicles.
The Sam's Club Auto Buying Program, powered by TrueCar, is running a holiday promotion from November 21 to December 30, 2022, offering members e-Gift Cards of up to $1,000 for purchasing eligible vehicles from certified dealers. The program facilitates car buying with features like pricing comparisons and personalized dealer offers. Eligible models include select 2022 and 2023 vehicles from brands like BMW, Audi, and Lexus. TrueCar aims to enhance transparency and savings for Sam's Club members.
TrueCar anticipates new vehicle sales in November 2022 to reach 1,136,329 units, marking a 7% year-over-year increase. The seasonally adjusted annualized rate (SAAR) for light vehicle sales is estimated at 14 million, up 9% from last year. Retail deliveries, excluding fleet sales, are projected at 954,799 units, down 3% from October. Fleet sales are forecasted to surge 68% year-over-year. Affordability issues plague consumers, leading OEMs to redirect new supplies to fleet sales.
On Nov. 15, 2022, AutoNation (NYSE: AN) announced its acquisition of approximately 6.1% of TrueCar (NASDAQ: TRUE), a leading automotive digital marketplace. This strategic investment underscores AutoNation's commitment to enhancing customer experiences through emerging technologies. The collaboration aims to improve the digital car-buying process, aligning both companies' values. AutoNation's CEO, Mike Manley, emphasized the investment's potential to foster closer commercial ties with TrueCar, enhancing service delivery in the automotive retail space.
TrueCar, Inc. (NASDAQ: TRUE) has launched a sweepstakes on TikTok and Instagram to assist individuals in purchasing cars. The initiative will award $50,000 total, with 10 winners each receiving $5,000. Participants can enter by posting videos explaining why they need a car using the hashtags #ineedatruecar and #truecarsweepstakes. The sweepstakes runs until December 18, 2022, and aims to address the challenges of car buying. TrueCar continues to emphasize its commitment to transparency and ease in the vehicle purchasing process.
TrueCar, a leading online destination for vehicle transactions, announced that CFO Jantoon Reigersman will participate in a fireside chat at the 2nd Annual Needham Consumer Tech/E-Commerce Virtual Conference on November 21, 2022, at 2:00 PM Eastern time. Interested parties can access the live event and replay through a provided LINK. TrueCar focuses on providing a transparent and efficient auto shopping experience.
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