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SOURCE TrueCar, Inc.
Former Edmunds and JD Power and Associates Executive Brings Extensive Industry Experience
SANTA MONICA, Calif., July 9, 2014 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling platform, today announced that Valeri Tompkins has joined ALG, the analytics division of TrueCar, as Vice President of Industry Solutions. Valeri will lead a team of professionals managing all aspects of OEM, captive finance, banks, fleet, and software clients. She will also manage and grow ALG residual value data, products, and consulting services. TrueCar expects its Industry Solutions team to introduce new products based on ALG data under Valeri's leadership. Prior to joining TrueCar, Valeri served as Executive Director at Edmunds, and Executive Director, Consulting and Analytics at J.D. Power.
"Valeri is a well-known and well-respected executive within the industry and she will be an incredible asset to the TrueCar team," said ALG President Larry Dominique. "Valeri will play an integral role in shaping future product direction to ensure ALG is delivering even greater value to the automotive industry. Valeri will also be responsible for ongoing development of key industry relationships to support our growth."
TrueCar's ALG division is the leading authority on automotive residual value projections in North America. Residual values are a key indicator of brand health and are used by businesses worldwide to set vehicle payments and measure risk in their financial portfolios. ALG is the benchmark for future value vehicles and provides automakers, lending institutions and fleet companies with resale insights, forecasts and consulting services about the future vehicle marketplace.
"TrueCar is focused on attracting best in class talent from within the industry who share our commitment to establishing an intelligent and transparent marketplace that serves buyers and sellers, " said John Krafcik, TrueCar President. "ALG is an integral part of TrueCar's future product strategy and adding a highly sough-after executive like Valeri shows our commitment to growing that business."
TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar's transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar's mission is to make car buying simple, fair and fun. Its national network of more than 8,000 TrueCar Certified Dealers is committed to providing negotiation-free savings off MSRP for all car-buyers, including members of some of the country's largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com for program details. TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.
This press release contains forward-looking statements, including but not limited to statements relating to the expected contribution from Ms. Tompkins to the growth of the business as well as future product developments. Forward-looking statements made are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon management's current expectations and involve a number of risks and uncertainties. Actual results and timing of events could differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include fluctuations in demand for our products and services, delays in our product development efforts and other risks and uncertainties related to our business. Further information on these risks and other factors that could affect our financial results is included in our prospectus filed pursuant to Rule 424, and in other filings we will make with the Securities and Exchange Commission from time to time. These documents are available in the SEC Filings section of the Investor Relations section of our website at ir.true.com. All forward-looking statements in this press release are based on information available to us as of the date hereof. We undertake no obligation to revise or update these forward-looking statements in light of new information or future events, other than as required by law.
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