SOURCE: Truecar.com

TrueCar.com

April 27, 2009 06:00 ET

TrueCar.com Launches, Bringing Truth and Transparency to New Car Pricing

TrueCar Price Reports Show What Others Actually Paid for Their New Car

SANTA MONICA, CA--(Marketwire - April 27, 2009) - TrueCar, the fresh voice in new car pricing, launched its free consumer website today at www.TrueCar.com. When a new car buyer visits the site, they are asked to enter their zip code and all vehicle details down to the specific options. Using clear and easy-to-read graphs, TrueCar then generates a complete Price Report which displays the full distribution of prices paid by other people for the exact same vehicle in a given market area. TrueCar also calculates the actual dealer cost structure of a particular vehicle, empowering car buyers to shop with confidence.

TrueCar differentiates itself through transparency and factual data. The company processes thousands of real transactions each day from a variety of different sources nationwide to generate its Price Reports. These sources range from financial institutions to vehicle registration organizations that collect and store new car transactional data. Today, TrueCar boasts data on more than 25% of all new vehicles sold. Extensive data analysis allows TrueCar to offer various additional information to consumers such as Good and Great Prices, as well as historical prices. More than ever before, consumers can gain the peace of mind that they are paying the same price as their neighbors for their new car.

"Information is power," says Scott Painter, TrueCar Chief Executive Officer. "Consumers no longer walk into the dealership only partially informed and fully suspicious: they walk in knowing exactly the price of a fair deal."

New to TrueCar Price Report

TrueCar's newly launched consumer website includes near-comprehensive coverage of all new cars in all regions, as well as timely and geographically specific prices. Here are a few of the highlights:

--  Coverage of more than 84% of all new cars in any region within the
    United States
--  Prices are based on transactions no more than 4 weeks old
--  2008, 2009 and 2010 (where available) new vehicle pricing information
--  Dealer and consumer incentive information, down to the local level
--  Historical pricing and histogram distribution of transactions for each
    available vehicle
    

The Truth

TrueCar also announced the launch of their new blog, The Truth. The blog regularly reports car pricing facts and trends, each backed by real market data. The Truth will help consumers decode new car pricing structures and to find more information about the best new car deals. The initial blog posts explain how car prices are lower than ever before thanks to extensive incentive programs (sometimes as much as 10% of the MSRP) and dealers are increasingly selling cars below cost (e.g. 31.5% of 2008 model vehicles are currently sold at a loss).

TrueCar is free and available to anyone at www.TrueCar.com. TrueCar's blog, The Truth, can be found at http://blog.truecar.com.

About TrueCar

TrueCar (www.truecar.com) is the fresh voice in new-car pricing. It aggregates multiple data sources to show car buyers and dealers how much people actually paid for a particular car in their geographic area. It is offered online, free of charge -- so anyone can know at any time what is considered a good or great price. Consumers no longer walk into the dealership only partially informed and fully suspicious: they walk in knowing exactly the price of a fair deal. Dealers gain real-time, unbiased information about marketplace pricing, helping them know how to price their cars to sell more 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.

Contact Information

  • Press Contact:

    Sean Stevens
    Atomic PR for TrueCar
    (415) 402-0230
    Email Contact