SANTA MONICA, Calif., March 23, 2021 /PRNewswire/ — TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, announces the extension of their current AAA Auto Buying Program*, powered by TrueCar. 

This year marks the 13^th year of the program with TrueCar as a AAA Preferred Supplier. With the extension, more than 41 million AAA members in select areas will have access to the TrueCar powered Auto Buying Program through the end of 2023.

“AAA is one of the best known and most trusted brands for car owners. Being a trusted resource and empowering hundreds of thousands of AAA members as they make one of their biggest financial decisions is something that we are extremely proud to continue through the AAA Auto Buying Program,” said Mike Darrow, CEO & President at TrueCar.

AAA Auto Buying Program Key Benefits:

• Price Context. See what others paid for your new vehicle of interest in a local area and view price ratings on used vehicles
• Savings. Save on average over $3,000 off MSRP** on new vehicles and receive discounts on used vehicles**
• Real Price Offers. Receive real transactable price offers on actual inventory on the dealer’s lot
• Trade-In or Sell. Get a value on your existing vehicle and receive a real cash offer in minutes
• Build your Deal Online. Build a comprehensive deal online and save time at the dealership
• Buy from Home. Identify TrueCar Certified Dealers that offer remote paperwork, vehicle delivery and vehicle sanitization
• Extensive Dealer Network. Access TrueCar’s Certified Dealer Network, which includes dealers nationwide

“TrueCar has continued to enhance and evolve its offering over the years to provide AAA members with best-in-class digital car buying tools,” said Bob Huffman, director of automotive preferred suppliers for AAA. “AAA is proud to have TrueCar continue to power the AAA Auto Buying Program and provide our valued members with peace of mind during their car buying experience.”

For more information, visit AAA.com/AutoBuying

* TrueCar powered auto buying services available only in participating AAA club territories: Auto Club Enterprise (excluding Southern CA and HI), The Auto Club Group (excluding NC, SC and CO), Auto Club Alliance, AAA Mountain West Group (excluding AK, AZ, MT, WY), AAA Northeast, AAA Western & Central NY, AAA Ohio Auto Club, AAA Hoosier Motor Club (IN), AAA Northampton County (PA), AAA Minneapolis, AAA South Jersey, AAA Southern Pennsylvania, AAA Hudson Valley (NY) and AAA Shelby Auto Club (OH).

**Between 1/1/20 and 12/31/20, the average savings off MSRP experienced by consumers who connected with a TrueCar Certified Dealer through the AAA Auto Buying Program and who were identified as buying a new vehicle from that Certified Dealer was $3,197. Your actual savings may vary based on multiple factors, including the vehicle you select, region, dealer, and applicable vehicle-specific manufacturer incentives, which are subject to change. The MSRP is determined by the manufacturer and may not reflect the price at which vehicles are generally sold in the dealer’s trade area, as many vehicles are sold below MSRP. Each dealer sets its own pricing.

***Used car discounts not available in all states.

About TrueCar

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry’s most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings, and market context on new and used cars — all with a clear view of what’s a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency, and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas, and Boston, Massachusetts. For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: [email protected]

About AAA

AAA provides more than 61 million members with automotive, travel, insurance and financial services through its federation of 30 motor clubs and more than 1,000 branch offices across North America. Since 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for safe mobility. Drivers can request roadside assistance, identify nearby gas prices, locate discounts, book a hotel or map a route via the AAA Mobile app. To join, visit AAA.com.

SOURCE TrueCar, Inc.

SANTA MONICA, Calif., Feb. 18, 2021 /PRNewswire/ — TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, today announced its list of the best end-of-month deals on new and used vehicle purchases and trade-in values for February 2021.

“Used vehicle sales tend to peak this time of year versus new car sales which usually peak in December when big end-of-year discounts entice consumers to dealership lots,” said Nick Woolard, Lead Industry Analyst at TrueCar. “This year popular used vehicles will likely still fetch a premium price as new vehicle inventory challenges continue, resulting in about a 10% increase in used vehicle list prices when compared with last year.”

“On the flip side, that means you can still get some of the highest values on your trade-in, particularly if you own a three to four-year-old, low mileage truck or SUV that can be used toward the purchase of your new vehicle.”

“If you’re looking for a unicorn new car deal, start with the remaining 2020 models still in inventory. While 2020 model year vehicles are scarce and only make up about 20% of all new inventory, if you find one on the lot that meets your needs you’ll want to move quickly before another buyer gets to it,” added Woolard.

Best Cash, Lease and Finance Deals on New Cars
Navigating the new car incentive landscape is complex for any car buyer. We look at deals across popular models, and at each incentive type (cash, lease, finance) and surface the best offer when compared with the prior month and to its recent price trend.  This month we’re seeing average savings of approximately 7% off MSRP across all new models.

Visit the TrueCar Blog for vehicle descriptions and photos.

Pricing and savings information is based on transaction data available to TrueCar as of 2/15/2021. Average cash, lease and finance savings are subject to change and individual savings may vary by factors such as location, individual vehicle attributes, dealer, credit approval, credit score, APR, applied residual value, amount financed and term.  Average lease and finance payments are may vary based on similar factors as well as down payment. Average finance and lease savings based on an assumed 4.15% APR and ALG residual value benchmarks.

Best Deals on Used Vehicles
We looked at popular used vehicles at a model level and curated those that have experienced a significant month-over-month drop in the list price indicating a good deal.

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 2/15/2021 compared to the prior month. Individual vehicle price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer.

Best Deals on Trade-In Values
Below, we highlight popular used models with the biggest increase in list price compared with the average. A smaller drop or small gain in list price signifies that the vehicle is retaining its market value and could fetch a stronger trade-in value. 

Change in list price calculated as a model average of vehicle level price changes for nationwide listings as of 2/15/2021 compared to the prior month. Individual vehicle list price changes may vary based on a variety of factors, including location, individual vehicle attributes and dealer. Changes in used vehicle list prices are assumed to be correlated with corresponding changes in trade-in value, but this correlation between list prices and trade-in values may not exist for the identified models or may not be experienced to the same degree.

If you’re active duty military, veteran or a family member of one, visit TrueCar Military at truecar.com/military for our Military Appreciation Package.

Click here for additional media assets.

About TrueCar

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry’s most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars – all with a clear view of what’s a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts.

For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) Email: [email protected]

TrueCar Contacts:
Shadee Malekafzali

Senior Director, Public Relations
[email protected] 

424-258-8694

SOURCE TrueCar, Inc.

Related Links

http://www.truecar.com

TrueCar (TRUE – Free Report) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 55.56%. A quarter ago, it was expected that this provider of localized information on new car costs would post a loss of $0.09 per share when it actually produced earnings of $0.04, delivering a surprise of 144.44%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

TrueCar, which belongs to the Zacks Internet – Services industry, posted revenues of $77.25 million for the quarter ended September 2020, missing the Zacks Consensus Estimate by 1.40%. This compares to year-ago revenues of $90.56 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

TrueCar shares have lost about 1.1% since the beginning of the year versus the S&P 500’s gain of 6.6%.

What’s Next for TrueCar?

While TrueCar has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for TrueCar was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.04 on $60.65 million in revenues for the coming quarter and $0.13 on $285.20 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet – Services is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.