TrueCar Certified Dealer Network Tops 1.5 Million Total Auto Sales, Over 500,000 Since November 2013

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Oct 14, 2014, 09:00 ET

SANTA MONICA, Calif., Oct. 14, 2014 /PRNewswire/ -- 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.

"Consumers expect price transparency in today's car-buying environment, and that's exactly what TrueCar provides," said Krafcik. "Car buyers and TrueCar Certified Dealers are on the same page, they avoid miscommunication thanks to Guaranteed Savings off MSRP and, importantly, our dealer-partners are able to ensure a delightful car-buying experience for the consumer."

About TrueCar

TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar's transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar's mission is to make car buying simple, fair and fun. Its national network of more than 9,000 TrueCar Certified Dealers, including both new car franchise dealers and independent dealers, is committed to providing negotiation-free savings off MSRP and upfront pricing information for all car-buyers, including members of some of the country's largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.

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SOURCE TrueCar, Inc.