SOURCE: TrueCar

TrueCar

January 14, 2010 09:00 ET

New Car Pricing Leader, TrueCar, and Inventory Management Specialists, HomeNet, Announce Partnership

SANTA MONICA, CA--(Marketwire - January 14, 2010) - TrueCar, Inc. (www.truecar.com), the authority on new car pricing, and HomeNet Automotive, the leading automotive inventory online marketing solution, announced a partnership today designed to deliver new car pricing data and information to users of HomeNet's flagship Inventory Online (IOL) Internet Marketing Suite. Under the deal, HomeNet will insert TrueCar pricing tools and window brochure functionality into its IOL solution.

"Our pricing tools will help IOL users to price their new car inventory based on real market conditions, including what area dealers charged for a similar vehicle in the last 30 days," said Scott Painter, CEO of Santa Monica-based TrueCar. "We are excited to team up with HomeNet to bring dealers that level of market intelligence. The better dealers know how to buy and sell inventory, the better their competitive advantage."

Today, TrueCar captures full transaction details for 43% of all new vehicle sales across the country, and that figure is growing. Leveraging this wealth of data, IOL dealers will be able to balance margin retention with sales velocity.

Andy McBride, VP of Business Development at HomeNet, added, "HomeNet's IOL platform continues to grow in user base, and we are again expanding our product suite to help our dealers sell more cars. TrueCar's pricing data and analytical tools are impressive -- a must-have for the savvy car dealer. In fact, we're offering our customers free access to TrueCar within IOL."

Following launch, TrueCar and HomeNet will add advanced analytical tools that combine automotive inventory, transaction, and production data to its IOL solution. Both companies will also explore ways through which IOL users can reach TrueCar's vast audience of in-market buyers: more than 15,000 TrueCar Price Reports are generated daily on TrueCar.com and its network of syndication partners (such as Vehix and US News Autos).

HomeNet's IOL Internet Marketing Suite is a vehicle marketing solution that helps thousands of automotive dealers to sell more cars online. IOL's web-based applications streamline the process of converting raw DMS data into consumer-friendly and emotional online ads. IOL offers rich functionality for DMS polling; Premium VIN Enhancement; video; search engine optimized (SEO) vehicle display pages; price analysis; unlimited photos, text messaging, email ads; automated distribution to 3rd-party services like eBay, Craigslist, and Oodle; mobile lot management; and more. IOL solutions quickly turn every vehicle on the lot into a compelling, online point-of-presence... and a gateway into the showroom.

About TrueCar

TrueCar (http://truecar.com/) is the authority in new car pricing. TrueCar aggregates data from multiple sources to show car buyers and dealers how much people actually paid for a particular car in their geographic area. TrueCar is offered online, free of charge -- so anyone can know at any time what is considered a good or great price. Consumers no longer need to walk into the dealership only partially informed and fully suspicious: with TrueCar they can walk in knowing the price of a fair deal. Dealers also benefit by gaining real-time, unbiased information about marketplace pricing, helping them price their cars to increase volume of sales and gain market share from other dealers. Led by a highly experienced team from the automotive and technology industries, TrueCar is based in Santa Monica, California.

About HomeNet

HomeNet is a privately owned automotive technology provider. Founded in 1996, HomeNet's core focus is providing innovative technology solutions to help automotive dealers increase online sales. HomeNet offers its products to a variety of customers including dealers, OEMs, website providers, CRM providers, digital lot management companies, finance/leasing agents, auction agents, and more. The company is headquartered in West Chester, PA, with satellite offices in FL, GA, TX, TN, CA, IL, IA, MI, NC, OR and UT. For more information, please visit www.homenetinc.com. For more information, dealers should contact the HomeNet Sales Team at salesteam@homenetinc.com or 877-738-3313.

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