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Last $15.62 USD
Change Today -0.09 / -0.57%
Volume 375.3K
TRUE On Other Exchanges
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NASDAQ GS
Frankfurt
OTC US
Berlin
As of 8:10 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

truecar inc (TRUE) Key Developments

TrueCar Inc. Partners with Safeco Insurance to Power Auto-Buying Program

TrueCar Inc. has partnered with Safeco Insurance to power its newly established auto-buying program. Safeco chose to partner with TrueCar to simplify the process for individuals who visit the Safeco Savings Center site, including its existing and future policyholders, to save them both time and money.

TrueCar Provides Revenue Guidance for the First Quarter of 2015

TrueCar, Inc. provided revenue guidance for the first quarter of 2015. Revenue is expected to be totaling $128 billion, up 8.4% versus last year.

TrueCar, Inc.(NasdaqGS:TRUE) added to NASDAQ Internet Index

TrueCar, Inc. has been added to NASDAQ Internet Index.

TrueCar, Inc. Presents at Bank of America Merrill Lynch's Annual New York Auto Summit 2015, Apr-01-2015 01:40 PM

TrueCar, Inc. Presents at Bank of America Merrill Lynch's Annual New York Auto Summit 2015, Apr-01-2015 01:40 PM. Venue: JW Marriott Essex House, 160 Central Park South, New York, NY 10019, United States. Speakers: Scott Painter, Co-Founder, Chairman and Chief Executive Officer.

Bellavia, Blatt & Crosset Files $250 Million Lawsuit against TrueCar

Bellavia, Blatt & Crosset has filed a $250 million mass action lawsuit against TrueCar. The lawsuit, filed on March 9, 2015 in federal court, claims TrueCar has engaged in deceptive business practices, by promising customers lower prices and quicker transactions on vehicle purchases at TrueCar-affiliated dealerships. Bellavia Blatt & Crosset said 117 dealerships nationwide - all of whom claim to have lost business to competing TrueCar-affiliated dealers - have signed on to the mass action lawsuit so far, although it expects that number to balloon to several hundred as the suit moves forward. TrueCar promotes a smoother car-buying experience by allowing users to search for the exact vehicle they want at the guaranteed price they want. Customers can then take the price guarantee to their local TrueCar-affiliated dealer and complete the buying process, effectively saving both time and money. Those dealers then pay $299 to TrueCar as a fee for the transaction. Bellavia, however, said the system doesn't work like that in practice, as TrueCar doesn't actually check with the dealer if a certain make and model in the preferred color is in stock, and that the low price advertised includes several rebates that customers have to qualify for, such as active-duty military discounts or recent college graduate discounts. TrueCar dismissed the lawsuit's allegations, saying in a written statement, it is aware that a complaint has been filed on behalf of a group of dealers who are not on the TrueCar program. It believes the complaint is without merit. It will vigorously defend the lawsuit and the business practices and it expects to be fully vindicated. This isn't the only lawsuit TrueCar will have to deal with though. Bellavia said it plans to file a second lawsuit against the company within the next month on behalf of 250 TrueCar-affiliated dealers, in order to get the company to - advertise a little more truthfully. No monetary settlement is expected to come from the injunctive relief lawsuit.

 

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TRUE

Industry Average

Valuation TRUE Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 6.0x
Price/Book 5.0x
Price/Cash Flow NM Not Meaningful
TEV/Sales 5.5x
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