Motor1.com and TrueCar Partner to Launch New Auto Buying Program
October 17 2019 - 9:00AM
Motor1.com and TrueCar (NASDAQ:TRUE) have partnered to offer
TrueCar’s industry-leading car buying platform to Motor1.com USA’s
10 million unique monthly users who visit the site for its rich
automotive content.
The new Motor1.com Auto Buying Program, powered
by TrueCar, provides Motor1.com USA’s visitors with an efficient
and transparent way to buy their next vehicle and will be
accessible through various entry points on Motor1.com’s
homepage, article pages, and new car reviews.
“Until now, there hasn’t been a path towards purchasing a new or
used car for our readers after they have read reviews and other
research content on Motor1.com,” said Yavor Efremov, CEO of
Motorsport Network. “US based car buyers can now access TrueCar’s
best-in-class price benchmarking data and tools; and receive
upfront transparent price offers from its network of dealers, all
offered through Motor1.com. As one of the top destinations for
automotive enthusiasts and in-market shoppers alike, we are pleased
to offer our readers all of the tools necessary to make an informed
auto buying decision.”
Benefits of the Motor1.com Auto Buying Program include:
- Price
Context:○ See what others recently
paid for a new vehicle based on actual vehicle transactions in a
local area○ See machine-learning-powered used vehicle ratings that
help assess price competitiveness on a used vehicle
- Transparent, Competitive
Pricing:○ Receive upfront discounted price offers on
actual inventory from TrueCar Certified Dealers○ Access to
competitive prices: Users of the TrueCar platform save on average
over $3,400 off MSRP* on new vehicles○ Receive discounts on used
vehicles**
- Simple Vehicle Valuation
Backed by a Check:○ Access to TrueCar’s transparent and
easy-to-use Trade-in or sell experience that provides consumers
with a real-time market value for their vehicle and a cash offer
from a local dealer.
- Up To $2,000 In Post-Sale
Benefits:○ Shoppers may choose to report their purchase
and receive up to $2,000 in additional post-sale incentives like
auto repair and auto insurance deductible reimbursement.
“Motor1.com is a trusted global automotive resource where more
than 10 million monthly users in the USA alone go to find the
latest car news with expert reviews,” said Mike Darrow, Interim CEO
and President at TrueCar. “We’re excited to partner with Motor1.com
to offer these car shoppers an Auto Buying Program they can also
trust and that will give them confidence when making such an
important purchase decision.”
About Motor1.comMotor1.com is an
international digital media group with North American, South
American, and European editions specializing in automotive content
while delivering the latest news, car reviews, buying guides, car
shopping, and premium video production.
Motor1.com is part of the Motorsport Network, which sits at the
heart of the automotive and racing industries offering a global
community of hundreds of millions of fans the inside track. 2019
has seen 145% year-over-year growth of users for our automotive
properties with Motor1.com, InsideEVs, MYEV.com, Motorious, and
Ride Apart serving fans of both two and four wheels, classic,
modern, and electric vehicles.
For more information on Motorsport Network and
Motor1.com:Jules PerkinsCommunications ManagerM
+44 (0)7961119065E jules.perkins@motorsport.com
About TrueCar TrueCar, Inc. (NASDAQ: TRUE)
is a digital automotive marketplace that provides comprehensive
pricing transparency about what other people paid for their cars
and enables consumers to engage with TrueCar Certified Dealers who
are committed to providing a superior purchase
experience. TrueCar operates its own branded site and its
nationwide network of more than 16,500 Certified Dealers, and also
powers car-buying programs for some of the largest U.S. membership
and service organizations, including USAA, AARP, American
Express, AAA and Sam's Club. Nearly half of all new car buyers
engage with the TrueCar network during their purchasing
process. TrueCar is headquartered in Santa Monica,
California, with an office in Austin, Texas.
TrueCar PR ContactShadee
MalekafzaliShadee@truecar.com
*Between 1/1/18 and 12/31/18, the average savings off MSRP
experienced by consumers who connected with a TrueCar Certified
Dealer through a TrueCar-powered auto buying program and who were
identified as buying a new vehicle from that Certified Dealer was
$3,402. Your actual savings may vary based on multiple factors,
including the vehicle you select, region, dealer, and applicable
vehicle-specific manufacturer incentives, which are subject to
change. The MSRP is determined by the manufacturer and may not
reflect the price at which vehicles are generally sold in the
dealer’s trade area, as many vehicles are sold below MSRP. Each
dealer sets its own pricing.
**Used car discounts not available in all states.
A photo accompanying this announcement is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1299c749-71e1-4d25-838c-79ac12a7d85c
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