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Chip Perry Reveals TrueCar's Dealer Pledge Outlining Transformation Strategy

TrueCar's Chip Perry Releases Detailed Pledge to Car Dealers

When Chip Perry arrived at TrueCar in December, it was apparent to him that the biggest issue facing the company was the need to make TrueCar a more positive place for dealers to do business.

Over the past decade, TrueCar has been successful in attracting car buyers, but its overall approach has alienated many dealers across the country.

So Chip's first order of business was to go straight to the source. He met with dozens of dealers of all sizes and asked them what they like and don’t like about working with TrueCar. They gave him an earful of their honest — sometimes brutally honest — opinions. Chip knew even before he joined TrueCar that big changes were needed, but hearing very directly about the concerns of dealers helped him formulate a new direction for TrueCar, one that is designed to make our marketplace produce a win-win for both consumers and dealers.

Some of the changes requested by dealers have already been made, some will happen over the next three months, and the rest will roll out over the balance of the year.

Below are the top three areas of concern expressed by dealers, and the actions TrueCar is taking to address them. Chip invites you to review TrueCar's new Dealer Pledge and complete list of action items shown below...

  • TrueCar is making major changes in their product offering to address concerns that TrueCar does some things that hurt dealer profitability and put “sand in the gears” of some transactions. To accomplish this, they are moving to reduce the use of TrueCar as a purely price-driven shopping tool and enable dealers to compete on factors other than price.
  • TrueCar is addressing your concerns about how we treat dealers as customers by redesigning their data policies, billing model, and billing practices. They are also hiring over 100 Field Service Consultants to help dealers make better use of TrueCar's tools and close more sales.
  • TrueCar is cleaning up their consumer-facing advertising and website language by creating more balanced messaging that positions dealers in a positive light.

Chip Perry went on to state: "Additionally, we would like to clarify our intentions regarding potential future F&I and Trade-In products. Please know that we will only support indirect finance and will not offer third-party direct finance products through TrueCar.com. In addition, any Trade-In product we introduce will be based on a well-accepted wholesale valuation and will be offered on a dealer opt-in basis. We hope that these clarifications will alleviate any concern that dealers may have about TrueCar’s future product offerings."

"We take these promises very seriously and we fully expect you to hold us accountable for delivering on them. The proof, as they say, will be in the pudding. As we proceed, we will keep listening to dealers and we will be making even more changes based on your ongoing feedback. If you would ever like to discuss any part of our Dealer Pledge, please feel free to contact me — I am always interested in hearing about how we can make TrueCar work better for everyone in our industry." --Chip Perry

For dealers who are now using TrueCar, Chip Perry says "thank you for your business, and for those who aren’t, we hope you will consider us in the future."

Sincerely,

Chip Perry, President & CEO

View TrueCar's Full Pledge

In this video series, TrueCar walks you through their pledge and shows you how they are addressing the top three concerns from car dealers.

Get a printable PDF with full details.

Download Full Pledge PDF

Views: 714

Tags: Car Dealer, Chip Perry, Dealer Pledge, Transformation, Truecar

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