TrueCar Launches New Product and Brand
January 30 2020 - 9:00AM
TrueCar, the most efficient and transparent online destination to
find a car, today launched a new consumer experience and strategic
rebrand in response to changing consumer needs in a digital world.
Offering more flexibility for car shoppers looking for price
clarity and convenience, TrueCar has expanded its product offering
to include vehicle discovery tools, an upgraded used car
experience, and the ability for consumers to choose how many
Certified Dealers they want to connect with. The updated shopping
experience is complemented by a new brand and visual identity,
rolled out in a national advertising campaign targeting new
audiences.
“It’s a new day for TrueCar, and we’re excited to return to
innovation to drive our growth,” said Mike Darrow, Interim CEO and
President of TrueCar. “We believe the changes to our consumer
experience, along with our refreshed brand and new advertising
creative, will make TrueCar more appealing and relevant to new
audiences, particularly women and millennials.”
“Today’s digital native car buyers are accustomed to buying
almost everything through an online platform,” added Darrow. “So
giving consumers more convenience and choice is at the heart of
this change. We believe this will result in more productive
interactions between consumers and dealers and a better experience
through our platform.”
TrueCar partnered with design firm Pentagram on its new brand
identity, strategy, and design direction, which includes the new
logo, color palette and brand taxonomy. The work also included a
rebrand of TrueCar’s subsidiary, ALG, for the first time providing
a stronger visual connection between the two brands.
“It’s vibrant, it’s joyous, and it’s
the embodiment of our aspiration to create a world where shopping
for a car is uplifting,” said Lucas Donat, Chief Brand Officer at
TrueCar. “Our goal for the rebrand was a return to visual
differentiation in our segment, with a lens toward attracting more
women and millennial buyers. Despite what you might hear,
millennials are buying cars at greater proportions than ever
before, and women make or influence 82% of car buying
decisions.”
TrueCar’s New Consumer Experience Includes:
- Personalized connection features that provide consumers choice
in how many dealers connect with them
- New vehicle discovery tools to help consumers identify the
vehicle that best suits their needs
- Improved used car experience featuring enhanced price ratings
that provide more precise used vehicle price context for consumers,
free condition history summaries, and a vastly improved matching
algorithm that surfaces more relevant used car inventory to
consumers
- Significant evolution of TrueCar’s new car price ratings to
empower consumers
Product testing prior to launch demonstrated that providing
consumers choice in how many dealers they connect with resulted in
over 100% increase in customer satisfaction, higher consumer
response rates from dealer outreach, higher closing introductions
between consumers and dealers, and a significant reduction in
consumer feedback around dealer outreach.
For 15 years, TrueCar’s product has provided prospective car
buyers rich data for price context and upfront and transactable
price offers on actual dealer inventory, with a Trade product
introduced at the end of 2018. Now, vehicle discovery tools
including vehicle rankings, a trim compare tool, and model overview
pages are part of the updated consumer experience for those who are
earlier in their car buying journey. These features along with new
re-engagement tools will nurture consumers within the TrueCar
ecosystem, increasing the likelihood of a vehicle purchase and / or
trade in at a TrueCar network dealer.
“From here, you’ll see TrueCar continue to innovate and evolve
our product offering in ways that personalize the car buying
journey for today’s digital consumer, making it simpler and more
convenient, all while enabling more purchase-ready consumers to
connect with our dealer partners and their inventory,” added
Darrow.For more information on TrueCar’s new brand platform, assets
and advertising creative, visit the TrueCar media site and
the TrueCar blog.
About TrueCarTrueCar, Inc. (Nasdaq: TRUE)
exists to create a world where shopping for a car is uplifting. Our
digital automotive marketplace helps car shoppers consider choices
from every angle—all with a clear view of what’s a great
deal. We show you price ratings for new and used cars. We
provide this information so you can feel confident in the upfront,
discounted price you’ll pay at the dealership. If you need a fast
and easy way to trade in your car, you can get a cash offer in
minutes. Our national network of over 16,500 Certified Dealers
shares our belief that truth, transparency and fairness are the
foundation of a great car buying experience. As part of our
marketplace, TrueCar powers car-buying programs for over 250
leading brands, including USAA, Sam’s Club, and American Express.
Nearly half of all new-car buyers engage with TrueCar powered
sites, where they buy smarter and drive happier.
TrueCar is headquartered in Santa Monica, California, with an
office in Austin, Texas. For more information, please
visit www.truecar.com, and follow us on Facebook or Twitter.
TrueCar media line: +1-844-469-8442 (US toll-free) |
Email: pr@truecar.com
TrueCar PR ContactShadee
Malekafzalishadee@truecar.com424-258-8694
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