TrueCar Adds Two New Industry Leaders to Strengthen Partnerships with Automakers and Build out New Insurance Vertical

TrueCar appoints Syl Raymond as Senior Director of OEM and former Tesla executive Nik Huyeng as Vice President of Insurance and Ancillary to build new insurance vertical from the ground up

SANTA MONICA, Calif., June 4, 2026 /PRNewswire/ -- TrueCar, one of the most recognized and trusted automotive brands, today announced two key hires: automotive industry veteran Syl Raymond as Senior Director of OEM, and former Tesla and Marsh executive Nik Huyeng as Vice President of Insurance and Ancillary.

With these strategic hires, TrueCar will capitalize on untapped opportunities by expanding its Original Equipment Manufacturer (OEM) relationships and insurance offerings, while delivering greater value to consumers and partners alike. Raymond will work directly with automakers to cultivate affinity partnerships and accelerate growth across the company's OEM network. Huyeng will lead TrueCar's insurance and ancillary business, developing and bringing to market digitally integrated insurance solutions to help customers secure the right protection while saving time and money.

"It's mission critical for TrueCar to help our customers save time and money, and bringing Nik and Syl onto the team reflects our commitment to unlocking the full potential of the TrueCar ecosystem," said Scott Painter, Founder and CEO, TrueCar. "Nik's track record building digitally integrated insurance solutions is exactly what our customers need and what TrueCar is built for. Syl's unmatched OEM experience unlocks revenue opportunities we've only begun to tap, while adding real value for everyone on the platform."

Raymond is an automotive industry veteran with over three decades of experience spanning OEM relations, dealer operations, and enterprise technology partnerships. Raymond has held leadership positions at Fair.com, Esserman Automotive Group, and Land Rover North America. Most recently, he served as Chief Strategy Officer at Better Car People, a CentralBDC company, where he led strategic direction since December 2019. Prior to that, he spent almost twenty years at CDK Global, rising to Vice President of Global Enterprise Solutions, where he oversaw relationships with major OEM clients including General Motors.

Huyeng has more than 13 years of experience at the intersection of automotive, insurance, and financial services,  and has spent four years at Tesla. At Tesla, he built it's European insurance company from the ground up, securing regulatory licensing across the EU and UK, and spearheaded the 2019 launch of Tesla Insurance in California.

Earlier in his career, Huyeng held roles at Marsh across Hong Kong, Beijing, and Asia Pacific, where he developed Tesla's first dedicated auto insurance program globally and supported Marsh's appointment as Tesla's global insurance broker.

Most recently, he served as Regional Affinity Leader for BeNeLux and Germany at Marsh, where he restructured underperforming operations. Huyeng has been recognized on Captive Review's Power 50 list of global captive leaders.

This announcement builds on TrueCar's recent leadership expansion. Recently, the company announced the appointments of Nikole Wells as Senior Vice President of Dealer Sales and Steve Moretti as Senior Director of Data Acquisition and Strategic Partnerships, reflecting the company's continued investment in the talent and infrastructure needed to drive better outcomes for TrueCar users.

About TrueCar
TrueCar is a leading digital automotive platform that uses technology to help car buyers save time and money through a nationwide network of Certified Dealers. Founded in 2005 by Scott Painter, TrueCar was built on the belief that serving membership and affinity organizations central to the car-buying process, including lenders, insurers, and dealers, enables a more valuable auto-buying experience for new and used vehicles. As part of its platform, TrueCar powers auto-buying programs for over 250 leading brands, including Sam's Club, AAA, and more than 100 credit unions. 

SOURCE TrueCar, Inc.