FI showroom red and grey logo
MenuMENU
SearchSEARCH

TrueCar Replaces Painter With Autotrader's Founding CEO

Starting Dec. 15, Chip Perry, who helped build Autotrader from a one-person startup to a $1.5 billion online marketplace, will take on the task of restoring TrueCar’s relations with dealers after a tumultuous summer.

by Staff
November 24, 2015
3 min to read


SANTA MONICA, Calif. — Chip Perry, who helped build Autotrader from a one-person startup to a $1.5 billion online automotive marketplace, will become TrueCar’s next president and CEO on Dec. 15.

The challenge is different this time around. Rather than creating a new segment of the automotive retail industry, Perry takes the helm of a company coming off its second public relations debacle in four years. He replaces TrueCar founder Scott Painter, who will formally step down on Dec. 15 as CEO and vacate his positions as chairman and member of the firm’s board of directors.

Ad Loading...

“I’ve followed TrueCar’s progress for many years and am truly excited to be joining the company. TrueCar has built incredible tools for car buyers and retailers and has a strong base on which to grow,” Perry said. “My initial focus will be on TrueCar’s dealer partners — listening to them and finding ways to serve them better.”

In August, Painter announced his retirement from the company he founded in 2006 after a tumultuous July for the car-shopping site. After parting ways with dealer giant AutoNation on July 9 over a data-sharing dispute, the firm reported a second quarter loss of $14.7 million.

In mid-September, TrueCar suffered another hit when John Krafcik, who was named president of the firm in May 2014, was hired away by Google to head its autonomous car division. Larry Dominique, vice president of industry relations, also announced his departure from the company following Painter’s resignation.

The executive departures and well-publicized divorce with AutoNation came three years after the 2012 dealer revolt that nearly put the site out of business. “It was an expensive correction,” Painter told F&I and Showroom in early 2013, after the company spent the better half of 2012 making amends with dealers across the country.

“As founder of TrueCar, I’m proud of what we’ve accomplished, but it’s time for a change and we have found exactly the right person for the job,” Painter said.

Ad Loading...

In Perry, TrueCar gets a well-respected executive in the automotive retail industry. He was AutoTrader’s first employee when he joined the firm in 1997. He led the company until 2013, guiding it as it grew its dealer count to 20,000 customers, its employee count to 3,500 and the site’s monthly unique visitors to 16 million. He also oversaw AutoTrader’s acquisitions of Kelley Blue Book, VinSolutions, vAuto and HomeNet Automotives.

Prior to starting Autotrader, Perry was a management consultant in the Los Angeles office of McKinsey & Co. He also served as avice president of new business development at the Los Angeles Times. He most recently served as president and CEO of Atlanta-based RentPath LLC, parent company of ApartmentGuide.com and Rent.com.

“There’s enormous opportunity in TrueCar’s business,” Perry said. “This company has great assets and I look forward to working with the team to scale the business and generate value for all of TrueCar’s stakeholders.”

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 →