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Stock impact report

TrueCar Extends Financial Support to Dealer Partners into June

TrueCar, Inc. (TRUE) 
Last truecar, inc. earnings: 2/20 04:03 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.true.com/investor-relations
Company Research Source: GlobeNewswire
SANTA MONICA, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, announced today the continuation of financial payment relief for its dealer customers through June. In states where its pay-per-sale or performance-based billing arrangements are not currently available, the company will automatically reduce subscription invoices by 25%. This June discount follows the previously announced 50% reductions to those dealers’ April and May invoices. “The automotive sector is on the path toward recovery,” said Mike Darrow, President and Chief Executive Officer of TrueCar. “While ALG is projecting U.S. retail new vehicle sales to be down 21% and 20% in May and June, respectively, these figures are outperforming initial estimates and other markets globally.” Darrow continued, “Since our first quarter earnings call earlier this month, traffic to our marketplace has continued its upward trend, Show less Read more
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