TrueCar has launched what it describes as a new consumer experience and strategic rebrand, including an improved used-car experience with enhanced price ratings that the company says provide “more precise used-vehicle price context for consumers.”
That used-car experience also includes free condition history summaries and an improved matching algorithm that brings more relevant used-car inventory to consumers.
To bring more flexibility for car shoppers looking for price clarity and convenience, TrueCar has expanded its product offering to include vehicle discovery tools and the ability for consumers to choose how many certified dealers they want to connect with in addition to the upgraded used car experience.
In addition to the updated shopping experience, TrueCar is featuring a new brand and visual identity that the company has rolled out in a national advertising campaign targeting new audiences.
TrueCar interim chief executive officer and president Mike Darrow said the consumer experience changes, the refreshed brand and new advertising creative “will make TrueCar more appealing and relevant to new audiences, particularly women and millennials.”
He said the digital native car buyers of today are “accustomed to buying almost everything through an online platform.”
“So giving consumers more convenience and choice is at the heart of this change,” Darrow said in a news release.
He continued, “We believe this will result in more productive interactions between consumers and dealers and a better experience through our platform.”
TrueCar said it was launching the new consumer experience and strategic rebrand in response to “changing consumer needs in a digital world.”
In addition to the improved used-car experience, TrueCar’s new consumer experience includes personalized connection features that provide consumers choice in how many dealers connect with them.
The “experience” also features new vehicle discovery tools that can help consumers identify the vehicle that best suits their needs.
The new consumer experience also includes what the company says is a significant evolution of TrueCar’s new-car price ratings that could empower consumers.
The company conducted product testing prior to launch, and it showed that providing consumers choice in how many dealers they connect with resulted in a more-than-100% increase in customer satisfaction, higher consumer response rates from dealer outreach, higher closing introductions between consumers and dealers, and a substantial reduction in consumer feedback around dealer outreach.
TrueCar says that its product has provided prospective car buyers rich data for price context and upfront and transactable price offers on actual dealer inventory for 15 years. That includes a trade product that the company introduced at the end of 2018.
Now, vehicle discovery tools that include vehicle rankings, a trim compare tool, and model overview pages are part of the updated consumer experience. That is geared toward those who are at an earlier stage in their car-buying journey.
Along with new re-engagement tools, TrueCar said the features will “nurture consumers within the TrueCar ecosystem.” That could increase the likelihood of a vehicle purchase or trade-in at a TrueCar network dealer.
TrueCar partnered with design company Pentagram on its new brand identity, strategy, and design direction, which includes the new logo, color palette and brand taxonomy.
The work also included a rebrand of TrueCar’s subsidiary, ALG. That provides a stronger visual connection between the two brands for the first time.
“It’s vibrant, it’s joyous, and it’s the embodiment of our aspiration to create a world where shopping for a car is uplifting,” said TrueCar chief brand officer Lucas Donat.
Donat continued, “Our goal for the rebrand was a return to visual differentiation in our segment, with a lens toward attracting more women and millennial buyers. Despite what you might hear, millennials are buying cars at greater proportions than ever before, and women make or influence 82% of car buying decisions.”
Darrow said, “It’s a new day for TrueCar, and we’re excited to return to innovation to drive our growth.”
He continued, “From here, you’ll see TrueCar continue to innovate and evolve our product offering in ways that personalize the car buying journey for today’s digital consumer, making it simpler and more convenient, all while enabling more purchase-ready consumers to connect with our dealer partners and their inventory,” Darrow said.