Surge in TrueCar Certified Dealer network accelerates push to enhance car-buying for consumers and dealers
TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling mobile marketplace, expanded its network to more than 10,000 dealers, including over 8,700 U.S. franchise dealers selling new cars and trucks and more than 1,300 independent dealerships specializing in used vehicles.
This expanded network pushes TrueCar closer to its goal of including a third of U.S. dealers in its network. The TrueCar service currently originates about 15 percent of new vehicle sales for its franchise dealer partners.
“We’ve reached a threshold of dealers that provides strong brand and geographic coverage to ensure there are convenient, competitively priced dealers close to consumers,” said Scott Painter, TrueCar’s CEO and founder. “Our business expands as we grow our franchise network and enlarging our non-franchise dealers gives consumers more options on the used car side.”
TrueCar recently redesigned its dealer certification program to help TrueCar Certified Dealers improve their sales closing rates and customer satisfaction scores. Dealers who completed the previous certification program had an average 30 percent increase in closing rates, according to TrueCar data.
“With TrueCar it’s a very easy process for the customer,” said Bob McLean, general manager of Larry H. Miller Lexus in Spokane, Washington, a newly added TrueCar Certified Dealership that helped reach the 10,000-mark. “TrueCar also allows us to connect with customers we wouldn’t have had access to without the service.”
Along with continuing to build its network in 2015, TrueCar is readying enhancements of its mobile app as the car-buying process moves from the desktop to smartphones and tablets. The evolution is essential as Millennial-generation consumers, or those born from about 1980 until the late 1990s, enter the auto marketexpecting to be able to buy a car with a mobile device.
TrueCar is committed to providing value for consumers and dealers alike, and receives ongoing guidance and input from its National Dealer Council.
“Forward-looking dealers are acknowledging the evolution of auto retailing and recognizing the strength of TrueCar’s brand and loyal user base,” said Mike Timmons, TrueCar’s senior vice president of dealer development. “We wish to thank our dealer partners for their support and we look forward to helping them grow their business.”
For additional commentary from Bob McLean, general manager of Larry H. Miller Lexus on this TrueCar milestone, click here.
