Major milestone represents growing support for upfront pricing movement in retail automobile industry
Santa Monica, California (April 27, 2011) – TrueCar, Inc. -- the data-driven automotive website providing shoppers with real, fair and transparent pricing information for new and used car purchases -- today announced it has facilitated more than $1 billion in savings for auto consumers through the company’s innovative online car-buying platform and Certified Dealer network.
The cumulative $1 billion in savings off of the Manufacturer’s Suggested Retail Price (“MSRP”) occurred when a customer of one of TrueCar’s affinity auto buying programs purchased a 2011 Toyota Avalon from Toyota of Fairfield, CA and saved over $4,200 off of MSRP.
This milestone follows TrueCar’s recent announcement that over 270,000 cars have been sold through the company’s auto-buying platform, a figure that translates into quadruple digit growth since the company’s 2006 launch.
“Surpassing a billion dollars saved by the buyers of automobiles stands as testimony to the power of providing consumers with radical clarity and transparency in terms of pricing,” said Scott Painter, TrueCar Founder and CEO. “This is about much more than just reaching a goal. We believe it further confirms the arrival of the intelligent marketplace in the auto industry, one where haggle-free pricing and consumer empowerment become the foundation of how a car is sold.”
Consumers using TrueCar save on average $4,154 off the MSRP of a new car. TrueCar’s service, which is free to consumers, is also available through more than 60 partner-branded websites. TrueCar works with an elite nationwide network of nearly 5,000 Certified Dealers who also believe in the mission of bringing truth, trust and transparency to auto purchases, ensuring car buyers get a fair deal through upfront pricing that results in an easier, faster selling process and greater customer satisfaction.
 Cumulative savings off of (“MSRP”) since April 2006 for new vehicle sales through Certified Dealers. Includes all applicable manufacturer-to-customer cash incentives.
 Average savings off of (“MSRP”) through Q1 2011 for new vehicle sales through Certified Dealers. Includes all applicable manufacturer-to-customer cash incentives.