FI showroom red and grey logo
MenuMENU
SearchSEARCH

TrueCar Posts Record Revenue in Q2

For the first time in company history, TrueCar posted revenues exceeding $50 million. The feat was attributed to gains in the firm’s dealer count, market share and transactions.

by Staff
August 12, 2014
TrueCar Posts Record Revenue in Q2

 

2 min to read


SANTA MONICA, Calif. — TrueCar posted a record $50.5 million in revenue in the second quarter, a 62% increase from a year ago.

This was the first time the company has exceeded $50 million in quarterly revenue, noted TrueCar CEO Scott Painter. In April, the company filed for an initial public offering of its common stock.

Ad Loading...

“The primary driver of revenue growth was a 55% year-over-year increase in total units retailed through the marketing channel, as TrueCar users purchased nearly 150,000 cars from TrueCar Certified Dealers during the second quarter.” said Painter during the company’s Aug. 8 investor call.

Transaction numbers were up across the board, with transaction revenue increasing 58% year over year to $46.1 million. Revenue per franchised dealer also increased to $6,195 per dealer.

TrueCar also grew its dealer count by more than 400 dealers from the prior quarter to 7,682. Monthly views on the website also rose 72% from a year ago to an average of 4.2 million unique visitors. The firm also increased its market share from a year ago to 3.4%.

“Our exceptional growth highlights the enhanced relevance of our platform as dealers and consumers alike benefit from TrueCar’s mission to bring transparency to the car-buying process,” said Painter. “We have a lot of growth in front of us.”

Painter listed frustrations with the traditional car-buying experience as reason for the site’s growing popularity with car shoppers, noting that TrueCar is working to close the trust gap that has long existed between consumers and dealers.

Ad Loading...

“Consumers believe that dealers make as much as 20% profit on the sale of a new car when in reality they make somewhere around 2% to 3%,” Painter said. “We’re reintroducing trust and transparency into a discussion that is filled with fear and friction.”

More Auto Finance

A fan of $100 bills sitting on a white envelope
Auto Financeby Hannah MitchellAugust 12, 2026

July Was Hot for Auto Borrowers

Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Financeby Lauren LawrenceAugust 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
man sitting at desk using a calculator
Auto Financeby Lauren LawrenceAugust 10, 2026

Auto Refi Savings Surge

Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.

Read More →
Ad Loading...
Tiny toy car in front of small stacks of coins
Auto Financeby Hannah MitchellAugust 5, 2026

Subaru Enters Lending Business

The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.

Read More →
Man climbing ladder in front of mountain landscape.
Auto Financeby Lauren LawrenceAugust 3, 2026

Positive Equity Reaches Record High

Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.

Read More →
Photo of document next to calculator and inkpen
Auto FinanceJuly 20, 2026

Dealerships Are Paying the Price for Extended Car Loans

Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.

Read More →
Ad Loading...
silver car in background with hand in front holding out a set of keys, Trade-In Trouble, F&I and Showroom
Auto Financeby Lauren LawrenceJuly 20, 2026

Trade-Ins in Negative Equity Reach New Heights

As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.

Read More →
Two men in suit jackets shaking hands in front of a new-looking white vehicle
Auto Financeby Hannah MitchellJuly 15, 2026

Auto Credit Plentiful

June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.

Read More →
Woman's hands holding an wallet empty of cash
Auto Financeby Hannah MitchellJuly 1, 2026

Automotive Consumers Sink Further in Debt

Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.

Read More →
Ad Loading...
Three men smiling for headshots
Auto Financeby Lauren LawrenceJuly 1, 2026

Porsche Financial Services Shifts Structure

After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.

Read More →