SANTA MONICA, Calif. –

Former Hyundai Motor America president and chief executive officer John Krafcik is now the president of TrueCar, which released a statement on the news Thursday.

The position is a newly created one, TrueCar said.

In April, Krafcik was named to TrueCar’s board of directors.

“John Krafcik not only has a deep understanding of the automotive industry, but he also knows how to run an organization at scale — and the timing is right for him to join our team,” said Scott Painter, founder and CEO of TrueCar. “John brings additional credibility to our commitment to making automotive retailers our partners, and he’s here to ensure we do just that.”

Krafcik added: “TrueCar is hard at work with our retailer partners, building a bridge of trust with consumers. I am thrilled to be joining the team and driving this transformation further, in ways that serve consumers, retailers and the industry in new and exciting ways.”