TrueCar Overhauls User Experience to Benefit Both Consumers and Dealers

TrueCar, Inc. (NASDAQ:TRUE), America’s fastest-growing new car digital marketplace, is overhauling its platform to improve transparency for consumers who count on it when searching for new and used vehicles and to increase benefits of the service to dealers.

The enhancements are being made as part of a “Dealer Pledge” initiative announced today to the TrueCar Certified Dealer network to address concerns they have expressed over the past few years. A number of changes to the TrueCar platform have already been implemented, with many more to come throughout 2016. They result from a three-month assessment led by President and Chief Executive Officer Chip Perry, who joined the company late last year.

“Our goal is to provide the best value for car buyers and dealers among all third-party automotive sites, but it was apparent to me that there were aspects of TrueCar’s service that were suboptimal,” Perry said. “It was also apparent that we could make a series of modifications to improve the value we provide to dealers without diminishing in any way our usefulness to consumers.”

Among the changes being made:

• Local pricing information for vehicles is even more precise across TrueCar-powered platforms
• Consumers now have the ability to obtain competitive pricing information, in the context of what others in their area have paid, for specific in-stock cars and trucks that best match their search, rather than for generic vehicles
• Consumers will be presented with enhanced information on local dealerships that provides them with a broader view of benefits offered by dealers and enables dealers to compete on factors other than just vehicle pricing
• TrueCar has eliminated a page in the consumer experience that showed unnamed dealers with estimated pricing for a generic new vehicle
• In response to feedback received from some dealers, TrueCar is adjusting its data policies, billing model and billing practices
• The company is hiring over 100 additional Field Service Consultants to help dealers make better use of TrueCar’s data tools

“Consumers want good pricing transparency and we are giving that to them in the most simple and elegant way among all the third-party sites in the industry,” Perry said. “I believe these changes strongly enhance that transparency while also improving the value we provide to our dealer customers.”

Full details of the Dealer Pledge can be found at truecar.com/pledge.

About TrueCar

TrueCar, Inc. (NASDAQ:TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 11,000 Certified Dealers also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam's Club. Over one third of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter.

TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pressinquiries@truecar.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160327005009/en/