TrueCar, Inc., (NASDAQ: TRUE), the negotiation-free car buying and selling platform, announced that its Certified Dealers have sold more than 1.5 million vehicles to TrueCar users. More than 500,000 sales occurred in the last 12 months alone.
“The speed at which we’re growing validates our corporate blueprint to provide price confidence by allowing users to identify a fair price on a car and helping dealers build their brands by reducing friction in the buying process,” said John Krafcik, president of TrueCar. “With our Guaranteed Savings Certificates or their TrueCar app in-hand, users can look forward to great savings and streamlined, hassle-free car-buying experiences from TrueCar Certified Dealers.”
Since the company was founded in 2005, TrueCar users have completed vehicle purchases from TrueCar’s nationwide network of Certified Dealers totaling more than $36 billion, and saved $4 billion off MSRP in the process. The 1.5 millionth car purchased using the TrueCar platform was a 2014 Ford Focus ST 5-door hatchback purchased at Apple Ford in Columbia, Maryland, for $2,719 below MSRP.
“We supply the tools that allow buyers to find the cars of their dreams and get them for fair prices – even for harder-to-find models like this Focus ST,” said Krafcik. “We also help make the whole process quicker, with customers spending about an hour less in the showroom versus the traditional car-buying process.”
More than 90 percent of prospective buyers go online to research and compare vehicles. With TrueCar, a user has the ability to research a car, price it to his or her specifications, and lock in Guaranteed Savings off MSRP.
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