Lead Generator "TrueCar" Going Public - Vehicle Buyers Are Worth $299


PHOTO



WASHINGTON, DC - April 7, 2014: The AIADA newsletter reported that with John Krafcik former Hyundai chief executive officer joining its board and paperwork filed for an initial public offering, activity is buzzing at TrueCar.

According to Automotive Remarketing, TrueCar indicated the number of common shares to be offered and the price range for the proposed offering have not yet been determined. But according to the registration statement on Form S-1 filed with the SEC, the company is coming off of a year where it generated revenues of $134.0 million and recorded a net loss of $25.1 million.

TrueCar mentioned in its SEC filing that its dealer network consists of more than 7,000 dealerships. “We typically charge TrueCar Certified Dealers $299 upon the sale of a new car to a TrueCar user,” company officials said. “In 2013, the overall industry average advertising expense per new car across all forms of media was $616. TrueCar recapped the challenges it has experienced with its dealer network. “TrueCar Certified Dealers have no contractual obligation to maintain their relationship with us.

Accordingly, these dealers may leave our network at any time or may develop or use other products or services in lieu of ours,” TrueCar officials said in the SEC documents. More on TrueCar’s IPO.


Home | Buyers Guides By Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | New Car and Truck Reviews
Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2014 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | XML SITE MAP | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/