Santa Monica, California (April 5, 2011) – TrueCar, Inc., the automotive industry innovator in new and used car pricing, trends and forecasting, has announced that GR Match, an affiliate of Guthy-Renker LLC, will make a significant equity investment in the company. The seminal partnership will allow TrueCar to give millions more Americans access to truthful, transparent, upfront prices and a no-hassle car buying experience through Guthy-Renker’s highly successful and proven method of targeting, messaging and network strategies to increase awareness of the brand on a mass scale.
“Guthy-Renker believes in TrueCar’s mission, value proposition, and ability to revitalize and transform the auto sales industry – a landscape that currently provides few positive experiences for the consumer and shrinking margins for the retail car dealer,” said Scott Painter, CEO and Founder of TrueCar.
Guthy-Renker will play an integral role in shaping TrueCar’s brand visibility by broadening and amplifying the power of its reach beyond the internet through the use of TV, print, radio, and other powerful advertising channels.
TrueCar has already helped more than 250,000 consumers save nearly $1 billion dollars on auto purchases, while simultaneously helping its nation-wide network of certified dealers increase velocity and maintaining margins through operational and marketing efficiencies, and a steady stream of in-market customers who are ready to buy.
For dealers who join the TrueCar certified network, the Guthy-Renker partnership opens up the floodgates for exposure to millions of potential car buyers – men, women and families who are in search of a fair price and a positive, no-hassle car buying experience.
“TrueCar offers a paradigm shift for an entire industry. It is fundamentally changing the way cars are sold,” said Ben Van de Bunt, co-CEO of Guthy-Renker. “We are excited to partner with TrueCar and help them bring transparency and customer empowerment to an industry requiring both.”
TrueCar is poised to move beyond the services provided by traditional websites such as Kelley Blue Book and Edmunds – solutions that have provided a measure of information to car consumers over the years, but have never provided the kind of transparency, accuracy or context of the unbiased data provided by TrueCar.
“The days of lead generation and haggling over price are over,” said Bernie Brenner, Chief Strategy Officer for TrueCar. “Moving forward, every car buyer in the United States can get a fair deal and a positive experience at the dealership. It starts with the power of information and continues with real upfront pricing. We are changing the game for both the dealer and the consumer.”
Brenner continued, “Guthy-Renker understands the art and the science of reaching a wide audience. We believe this relationship is a once-in-a-lifetime opportunity to take the TrueCar brand national.”