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.

Earnings data Q1 2021

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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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TrueCar, a platform where people can research new and used car prices and find local dealer savings, is laying off 24% of staff due to a restructure, the company said Wednesday. About 102 people will be impacted by the layoff.

TrueCar lays off 102 employees, taps new CEO amid restructure

Shares of TrueCar Inc. TRUE rallied more than 8% in the aftermarket Wednesday after the car-pricing platform announced a restructuring, which includes laying off 24% of its workforce, and a new chief executive. TrueCar said the restructuring is expected to “streamline” its operations and cut expenses by more than $20 million.

TrueCar stock jumps 8% after layoffs, new CEO news

Restructuring Expected to Streamline Organization and Reduce Annualized Expenses by Over $20 Million Jantoon Reigersman Appointed President and Chief Executive Officer Michael Darrow to Depart from Company SANTA MONICA, Calif. , June 14, 2023 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE) today announced a strategic restructuring to streamline the organization, including a workforce reduction impacting approximately 102 positions, or 24% of the Company's headcount, and the appointment of Jantoon Reigersman as President and Chief Executive Officer.

TRUECAR ANNOUNCES STRATEGIC RESTRUCTURING AND LEADERSHIP TRANSITION

May sales on pace for 23 month high SANTA MONICA, Calif. , May 30, 2023 /PRNewswire/ -- TrueCar, Inc.

TrueCar Releases Analysis of May Industry Sales

In partnership with AutoNation and wear blue: run to remember, the latest award is the ninth vehicle giveaway through the program SANTA MONICA, Calif. , May 23, 2023 /PRNewswire/ --  TrueCar , Inc. (NASDAQ: TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, has partnered with AutoNation , America's most admired automotive retailer, and wear blue: run to remember to award Hannah Parmar, a Gold Star Family member from Rainier, WA, with a new vehicle through its DrivenToDrive initiative.

TrueCar's DrivenToDrive Program Continues Tradition of Honoring Gold Star Families by Awarding Daughter with Brand New Vehicle

SANTA MONICA, Calif. , May 12, 2023 /PRNewswire/ -- TrueCar, Inc., (NASDAQ:TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, today announced that President and Chief Executive Officer, Mike Darrow, will participate in a fireside chat at the J.P.

TrueCar to Participate in Upcoming Investor Conference

Live call and webcast will occur on May 9 at 9:00 a.m. ET SANTA MONICA, Calif.

TrueCar Releases First Quarter 2023 Financial Results and Stockholder Letter

Average APRs stabilizing for new and used vehicles SANTA MONICA, Calif. , April 26, 2023 /PRNewswire/ -- TrueCar, Inc.

TrueCar Releases Analysis of April Industry Sales

TrueCar to Announce First Quarter 2023 Financial Results in Stockholder Letter on May 8

Fleet sales are at their highest in three years SANTA MONICA, Calif. , March 29, 2023 /PRNewswire/ -- TrueCar, Inc.

TrueCar Releases Analysis of March and First Quarter Industry Sales

The Automotive Shopper Trends Report highlights shift in consumer expectations amid  rising interest rates and inflation  SANTA MONICA, Calif. , March 9, 2023 /PRNewswire/ --  TrueCar , Inc. (NASDAQ: TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, today released the latest version of its Automotive Shopper Trends Report (ASTR), a comprehensive look into auto shopper actions and expectations.

New TrueCar Report Reveals How the State of the Economy Has Impacted the Way Americans Shop for Cars

Electric vehicle leases spike in response to government tax credits SANTA MONICA, Calif. , Feb. 24, 2023 /PRNewswire/ -- TrueCar, Inc.

TrueCar Releases Analysis of February Industry Sales

TrueCar, Inc. (NASDAQ:TRUE ) Q4 2022 Earnings Conference Call February 23, 2023 9:00 AM ET Company Participants Zaineb Bokhari - Vice President of Investor Relations Mike Darrow - President and Chief Executive Officer Jantoon Reigersman - Chief Operating Officer Teresa Luong - Chief Financial Officer Conference Call Participants Rajat Gupta - JPMorgan Chris Pierce - Needham Operator Good day, and welcome to the TrueCar Fourth Quarter 2022 Financial Results Conference Call. Please note that this event is being recorded.

TrueCar, Inc. (TRUE) Q4 2022 Earnings Call Transcript

Live call and webcast will occur on February 23 at 9:00 a.m. ET SANTA MONICA, Calif.

TrueCar Releases Fourth Quarter 2022 Financial Results and Stockholder Letter

TrueCar to Announce Fourth Quarter 2022 Financial Results in Stockholder Letter on February 22

2023 industry outlook appears promising as inventory rebounds SANTA MONICA, Calif. , Jan. 27, 2023 /PRNewswire/ -- TrueCar, Inc.

TrueCar Releases Analysis of January Industry Sales

Heading into 2023, more indications that OEMs and Dealers will look to stimulate demand SANTA MONICA, Calif. , Dec. 29, 2022 /PRNewswire/ -- TrueCar, Inc.

TrueCar Releases Analysis of December Industry Sales

Ford Motor Company

General Motors

Rivian Automotive

Tesla

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OEMs' first response to increasing inventories is to pull the fleet lever SANTA MONICA, Calif. , Nov. 30, 2022 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, expects total new vehicle industry sales to reach 1,136,329 units in November 2022, up 7% from a year ago and about on par with October 2022, when adjusted for the same number of selling days.

TrueCar Releases Analysis of November Industry Sales

Consumers likely to purchase an EV surges 7% since March Consumer education key to making transition to EV a reality SANTA MONICA, Calif. , Nov. 16, 2022 /PRNewswire/ -- In concert with the opening of the 2022 Los Angeles Auto Show, TrueCar, Inc. (NASDAQ: TRUE), the easiest, most efficient, and transparent online destination for buying and selling new and used vehicles, compared its recent national consumer sentiment survey on electric vehicles (EV) to a focused look at real-time EV attitudes in the Los Angeles area.

TrueCar Survey Shows Electric Vehicle Interest Continues to Grow Nationally With Los Angeles Consumers Ahead of the Curve

AutoNation

FORT LAUDERDALE, Fla. , Nov. 15, 2022 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), America's largest and most admired automotive retailer, today announced its acquisition of an approximately 6.1% minority ownership stake in TrueCar, Inc. (NASDAQ: TRUE), a leading automotive digital marketplace that lets auto buyers and sellers connect to its nationwide network of Certified Dealers.

AutoNation Announces Acquisition of Minority Ownership Stake in TrueCar, a Leading Automotive Digital Marketplace

Meeting people where they're at, TrueCar launches TikTok and Instagram hashtag sweepstakes to give a total of $50,000 to 10 individuals SANTA MONICA, Calif. , Nov. 14, 2022 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the easiest, most efficient, and transparent online destination for buying and selling new and used vehicles, has launched a sweepstakes on TikTok and Instagram to help people buy a car.

TrueCar Announces the "I Need a TrueCar" Sweepstakes To Help People Buy a Car

In partnership with DAV (Disabled American Veterans) and AutoNation, TrueCar recognizes veteran for continued service to community  SANTA MONICA, Calif. , Nov. 10, 2022 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the easiest, most efficient, and transparent online destination for buying and selling new and used vehicles, has awarded Marine Corps Vietnam veteran Leonard "Len" Johnson of Philadelphia, with a new retrofitted vehicle through its DrivenToDrive initiative.

TrueCar Honors Vietnam Marine Veteran with Brand New Retrofitted Vehicle for DrivenToDrive Initiative

TrueCar, Inc. (NASDAQ:TRUE ) Q3 2022 Earnings Conference Call November 8, 2022 9:00 AM ET Company Participants Zaineb Bokhari - Vice President of Investor Relations Mike Darrow - President & Chief Executive Officer Jantoon Reigersman - Chief Financial Officer & Chief Operating Officer Conference Call Participants Rajat Gupta - JPMorgan Marvin Fong - BTIG Chris Pierce - Needham Vincent Sengelmann - Truist Securities Operator Hello and welcome to the TrueCar Third Quarter 2022 Financial Results Conference Call. Please note, this event is being recorded.

TrueCar, Inc. (TRUE) Q3 2022 Earnings Call Transcript

TrueCar (TRUE) delivered earnings and revenue surprises of -36.36% and 2.50%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

News for Truecar Inc Stock (TRUE)