TrueCar Certified Dealer Network Reaches All-Time High 9,000 Dealers
TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling platform, now has more than 9,000 active dealer partners in the TrueCar Certified Dealer network, including more than 8,000 new car franchise dealers and nearly 1,000 independent dealers. More than 1 out of 4 franchise dealers in the U.S. are now TrueCar Certified Dealers.
The most recent 1,000 net dealer additions occurred in the shortest time period in company history and reflect robust industry interest in partnering with TrueCar.
"We recently indicated our intent to limit the size of the TrueCar Certified Dealer network to approximately 1 out of 3 franchise dealers nationwide, which has been a motivating factor in dealers wanting to join," said Mike Timmons, Senior Vice President of Dealer Development of TrueCar. "In many large metro markets for certain brands, there is a dealer waiting list of dealers who want to join the TrueCar platform."
TrueCar selectively partners with dealers who are committed to delivering a superior car-buying experience. TrueCar requires its network of Certified Dealers to maintain high performance standards, adopt specific customer service criteria and undergo periodic training to maintain their certified status. TrueCar actively monitors the performance of its Certified Dealers, and dealers not meeting these standards can be suspended from the service. So far this year, 78 dealers have lost TrueCar certification for not meeting customer service requirements.
"We are deeply appreciative of our dealer partners' business and continue to innovate with them to delight more and more car buyers," said John Krafcik, President of TrueCar. "TrueCar is making record investments in our suite of dealer tools with an emphasis on mobile, customized analytics, sales training and customer support to help our dealer partners profitably grow their business."
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