November Auto Sales Set to Reach $45 Billion

Average transaction prices likely to fall 1.9%

SANTA MONICA, Calif.–(BUSINESS WIRE)–TrueCar,
Inc. (NASDAQ: TRUE)
projects U.S. revenue from new vehicle sales reached $45 billion for the
month of November, up 1.6 percent from a year ago.

Despite lower average transaction prices, automakers should post a $712
million gain in revenue compared to last year due to two more selling
days in November 2016 versus a year ago.

Average Transaction Prices in November 2016 are growing by 1.2 percent
compared to the prior month while showing a loss of 1.9 percent over the
prior year.

“Despite healthy economic fundamentals and strong demand for new
vehicles, incentive spending is expected to be up by a record 13 percent
year-over-year, affecting transaction prices negatively for the outgoing
2016 model year,” said Oliver Strauss, TrueCar’s chief economist.
“Nevertheless, two more selling days in November 2016 are helping the
automakers generate more overall revenue than a year ago.”

Ford and GM are expected to grow by 2.9 and 1.7 percent in average
transaction prices year-over-year, respectively. Volkswagen Group
continues to accelerate by 3.1 percent versus November 2015, a possible
indication of continued signs of recovery from the TDI emissions issues
a year ago.

TrueCar estimates the average transaction price (ATP) for a new light
vehicle was $32,667 in November, down 1.9 percent from a year ago.
Average incentive spending per unit grew by $399 to $3,475. The ratio of
incentive spending to ATP was 10.6 percent, up from 9.2 percent a year
ago.

About TrueCar

TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive marketplace that
provides comprehensive pricing transparency about what other people paid
for their cars and enables consumers to engage with TrueCar Certified
Dealers who are committed to providing a superior purchase experience.
TrueCar operates its own branded site and its nationwide network of more
than 13,000 Certified Dealers also powers car-buying programs for some
of the largest U.S. membership and service organizations, including
USAA, AARP, American Express, AAA and Sam’s Club. Over one third of all
new car buyers engage with the TrueCar network during their purchasing
process. TrueCar is headquartered in Santa Monica, California, with
offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com.
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TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pressinquiries@truecar.com

Contacts

TrueCar, Inc.
Veronica Cardenas, 424-258-2487
VCardenas@truecar.com
pressinquiries@truecar.com