True to His Word, Chip Perry is Revamping TrueCar

Steph Willems
by Steph Willems
true to his word chip perry is revamping truecar

TrueCar, the prolific third-party car shopping site, is changing the way it does business in the hopes of mending dealer relations and reversing the company’s flagging fortunes.

When TrueCar president and CEO Chip Perry took the helm of the site last December, his stated goal was to make amends with ornery partners and bring the company out of a period of turmoil.

Spending the winter mulling it over, Perry has returned with a plan.

A pledge issued to members of the TrueCar Certified Dealer network on March 27 outlines a laundry list of changes aimed at improving transparency for consumers while bringing dealers onside.

“Our goal is to provide the best value for car buyers and dealers among all third-party automotive sites, but it was apparent to me that there were aspects of TrueCar’s service that were suboptimal,” Perry said.

“It was also apparent that we could make a series of modifications to improve the value we provide to dealers without diminishing in any way our usefulness to consumers.”

At the top of the list of changes is more accurate pricing information for vehicles and more local comparison pricing. Detailed information on dealer incentives will be provided, while estimated pricing from unnamed dealers will be scrubbed. Also, an outside monitor will make sure TrueCar doesn’t play fast and loose with data.

TrueCar’s subscription billing model will also be rolled out nationwide.

Perry said when he took over the vacated post, dealers let him have it, assailing him with their “brutally honest” opinion of TrueCar. That feedback laid the groundwork for the changes, one of which will be to purge the site and its advertising of language that casts dealers in a bad light

The news of the coming changes didn’t have a positive impact on TrueCar’s stock, which sank over four percent the morning after the announcement.

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  • Jthorner Jthorner on Mar 29, 2016

    Once again the unpaid contributors have to ask the hard questions and insert much needed skepticism and reasoned critique into what was otherwise little but a rewritten press release.

  • SearMizok SearMizok on Mar 30, 2016

    I look at TrueCar and the other sites such as Edmonds, KellyBlueBook, NADS Guides, and come up with a number that I think is the best realistic price I shouldn't pay more than. Than I stuck to that number, no matter how much the dealer cried, and before he let me walk out of the dealer, I got that number.

  • Alan I do believe that traffic infringements penalties based on income will affect those who are financial able to flout safety regulations.When I drive above the posted speed limit I assess my situation using probability. If I'm confronted with a situation where time is of more value to me than speed I will speed if I assess the probability of a fine to be quite low. I can afford the fine, what I can't afford is the loss of points on my drivers licence.In Australia (12 points in QLD and all States have a point system) we have a points system attached to your drivers licence. An open drivers licence is granted 12 points every 3 years. So, if you receive an infringement for exceeding the speed limit it takes 3 years for the points to be removed. I generally get caught once every 2 years.I think a points system would be a fairer system over a system based on income. Its about retaining your licence and safety, not financial gain by the government.As you can see below it wouldn't take long for many US drivers to lose their drivers licence.[h2]Current penalties for individuals caught speeding[/h2]InfringementPenalty amountDemerit pointsLess than 11km/h over the speed limit$287. 1 pointAt least 11km/h but not more than 20km/h over the speed limit$431. 3 pointsMore than 20km/h but not more than 30km/h over the speed limit$646. 4 pointsMore than 30km/h but not more than 40km/h over the speed limit$1,078. 6 pointsMore than 40km/h over the speed limit$1,653. 8 points and 6 month suspension
  • Wjtinfwb Instead of raising fines, why don't the authorities enforce the laws and write tickets, and have judges enforce the penalty or sentence of a crime. I live across the street from an Elementary School on a 4-lane divided state highway. every morning the cop sits in his car and when someone sails through the School Zone well above the 10 mph limit, he merely hits his siren to get their attention but that's it. I've never, in 5 years, seen them get out of the car and actually stop and driver and confront them about speeding. As a result, no one pays attention and when the School Zone light is not lit, traffic flies by at 50-60 mph in the 45 zone. Almost no enforcement occurs until the inevitable crash, last year some zoned out girl rolled her beater Elantra 3 times. On a dry, straight, 4 lane road with a 45 mph limit. I'm no Angel and have a heavy foot myself. I've received my share of speeding tickets, lots of them when younger. Traffic enforcement in most locales has become a joke these days, jacking prices because someone has a higher income in as asinine as our stupid tax policy and non-existent immigration enforcement.
  • Jeff S If AM went away I would listen to FM but since it is insignificant in the cost to the car and in an emergency broadcast it is good to have. I agree with some of the others its another way to collect money with a subscription. AM is most likely to go away in the future but I will use AM as long as its around.
  • BEPLA I think it's cool the way it is.If I had the money, time and space - I'd buy it, clean it up, and just do enough to get it running properly.Then take it to Cars and Coffee and park it next to all the newer Mustangs.
  • Dave M. I suppose Jethro’s farm report comes via AM, but there’s a ton of alternative ways to get that info. Move forward people. Progress is never easy.