TrueCar, Inc. Reaches 200,000 Cars Sold

SANTA MONICA, Calif., Dec. 13, 2010 /PRNewswire/ -- Car-pricing authority TrueCar, Inc., announced today that it has sold more than 200,000 cars through the company's innovative online car buying and pricing platform. The platform saves consumers on average $4,356 off the Manufacturer's Suggested Retail Price (MSRP)(1) on new cars and is available on the company's more than 40 partner-branded Web sites, which are powered by Zag, a TrueCar, Inc. company.

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Earlier this year, the company reached its initial 100,000 car sales. However, what previously took 48 months to achieve since the company's inception in 2006 was reached in less than a year in 2010, demonstrating the company's explosive growth and its increasing impact on automotive retail. The company continues to achieve triple-digit year over year growth - up 146 percent from November 2009.

"Reaching 200,000 car sales is a huge milestone, but achieving 100,000 of those sales in less than a quarter of the time it took to reach the first 100,000, really makes a statement about how quickly we're growing," said TrueCar, Inc. Founder and CEO, Scott Painter. "This is a testament to how the Internet, upfront pricing and transparency have forever changed the retail model for automotive."

The 200,000th car sold was a 2011 Toyota Highlander in Madison, WI to a car buyer referred by one of Zag's affinity, membership-based online car buying programs.

TrueCar, Inc. is on a crusade to change the way cars are bought and sold by providing consumers and dealers with radical clarity and transparency. The company is pioneering the automotive industry's adoption of upfront pricing while also distributing timely and accurate transactional data on what other people actually paid for a particular vehicle locally, regionally and nationally - information which is essential in order to get a fair price. Over 1.4M TrueCar price reports were viewed by consumers in November 2010 and this number continues to rise by significant percentages month over month. Additionally, TrueCar, Inc. provides guaranteed upfront pricing on new vehicles online through its network of 4,200 Certified Dealers, providing consumers a no-haggle price before they step into the dealership. The 200,000 vehicles sold represent nearly $750 million in savings off of MSRP.

TrueCar, Inc. will soon launch used car solutions, ClearBook™ and TrueTrade™, in order to provide price-confidence around used car and trade-in values.

About TrueCar, Inc

TrueCar, Inc. is a revolutionary online automotive solutions provider on a mission to change the way cars are bought and sold. The company is pioneering the automotive industry's adoption of transparent pricing by distributing timely and accurate transactional data on what other people actually paid for a particular vehicle locally, regionally and nationally.  Zag, a TrueCar, Inc. company, private labels its auto buying, pricing and technology platform and Certified Dealer network to more than 40 of the nation's leading affinity brands.

(1) Including incentives; as of December 2011.

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Scott Painter

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SOURCE TrueCar, Inc.