SANTA MONICA, Calif. and CHARLOTTE, N.C. -

TrueCar and Sonic Automotive announced a settlement Wednesday resolving a trademark dispute, prompting the dealer group to end its policy against doing business with the online marketplace.

Sonic executive vice president of operations Jeff Dyke said in a statement that the company is “open to evaluating from a corporate level whether its dealerships will participate in TrueCar programs going forward.”

The litigation dealt with TrueCar’s “sole and exclusive rights to its TRUECAR trademark and TRUE family of trademarks,” and under the agreement, Sonic will “transfer to TrueCar all rights to and use of its TRUE PRICE, TRUE VIEW and all other TRUE-related marks.”

TrueCar chief executive officer Scott Painter said: “Protecting our valuable intellectual property is of paramount importance to our business, so we are pleased to resolve this litigation. Sonic has been a valuable business partner in the past, and we look forward to re-establishing a mutually beneficial business relationship with them in the future.”

Dyke noted: “We are pleased to come to a resolution with TrueCar. They will continue to build their brand around TRUE, and Sonic will continue to enhance its Sonic brand with its own unique, market-based pricing model.

“With the lawsuit resolved, Sonic has lifted its policy of not doing business with TrueCar and is open to evaluating from a corporate level whether its dealerships will participate in TrueCar programs going forward,” Dyke added. 

This news comes just two days before TrueCar and AutoNation are slated to end their business relationship.

Earlier this month, it was revealed the two companies would be parting ways this Friday after a dispute surrounding customer data.

Both TrueCar and AutoNation addressed this matter further in their respective conference calls this month.