ipl-logo

Executive Summary: Truecar

1087 Words5 Pages

Scott,
We hope you are well in spite of all of the chaos. TrueCar faces a tough challenge and we are working diligently to address the situation. We recommend the company adjusts the position dealers have in our ecosystem. The dealers, as TrueCars ultimate customer, should be limited in their ability to look at eachothers prices and slightly changing the platform to create healthy competition. Mending our relationship with the dealers is imperative to our survival in the long term, but the process will take time. In the near term, we suggest adding on new revenue streams. Bolstering our used car sale business to generate additional revenue and reaching more customers in addition to dealerships will provide TrueCar with a competitive advantage …show more content…

Currently, most consumers list their cars for sale on Craigslist, which offers no additional value to the customer beyond the ability to post an ad. We are poised to offer them an extremely accurate price, a list of dealers who are willing to purchase that car for that price, and possibly as a way to list the car. We will need to look into any regulatory issues that may arise and ensure our new platform complies. Today, our product mix is beginning to shift towards used car sales, which we earn $399 per transaction. Given our shrinking revenue growth and high cash burn, this incremental revenue will provide additional liquidity while we implement our long-term dealer strategy. Through analysis of our web traffic, we have estimated most site visitors are ~6 months away from purchasing a new car. The delay stems from the fact the customer needs to sell their current car before making a new car purchase. Our used car platform would be synergistic to our new car platform. Two times as many used cars are transacted in the US as new cars. If those customers use TrueCar as their method to check the value of and sell their car, they will be increasingly more likely to use TrueCar to purchase their next vehicle. By bolstering this platform, we will reach a wider audience and grow the overall TrueCar user base. This strategy will also begin to transform TrueCar into the holistic car company you

Show More
Related

Canadian Tire Executive Summary

390 Words | 2 Pages

Their total revenue for the year ending December 31, 2016 is $12,681 million. This is not the same as retail sales, which is another metric that CTC reports on. Total retail sales (i.e. POS or cash register sales) for the year ended December 31, 2016 was $14,370.6 million CAD. CTC is a Canadian retail company that operates in several markets. They are best known for their flagship brand, Canadian Tire stores.

Read More

Wgu Est1 Task 1

1147 Words | 5 Pages

The customers, competitors, suppliers, government are important to the automaker, but have low potential to influence the pace and potential of the change process. Again keep them engaged through consultation is important to keep their interest in tact (The matrix system at work, 2012). The

Read More

Intolerable Cruelty: Movie Analysis

1595 Words | 7 Pages

Akerlof explored the problem associated with pricing second hand cars, which he called a lemons market – a ‘lemon’ is a derogatory term for a poor quality second-hand car. Since, the buyer doesn’t have all the information, the buyer can solve this problem by doing their research before purchasing the car. The buyer can look into the seller’s reputation, hire a mechanic to inspect the car, look at the car history by using CARFAX and also acquiring

Read More

How Much Does The 2024 Mustang Cost?

1248 Words | 5 Pages

This pricing flexibility ensures that the Mustang remains accessible to a wide range of buyers while also offering the exclusivity and high-end features that premium customers

Read More

Canada Drives Case Summary

1713 Words | 7 Pages

Case summary Cody Green is an entrepreneur who leapt from sales to fintech by developing Canada Drives. Canada Drives secures financing for potential car-owners prior to them going to a dealership in order to minimize the emotional strain of waiting for approval and maximize sales. Canada Drives founder and co-CEO Cody Green took a sales job at a Hyundai dealership in West Edmonton before the company began. When working for the dealership he realized there was flaws in the sales model car owners were often choosing a vehicle only to find themselves unable to finance. Which had a negative impact on dealers, consumers, financial institutions.

Read More

Canadian Tire Executive Summary

2684 Words | 11 Pages

ORGANISATIONAL BEHAVIOUR ANALYSIS Canadian Tire Group 6 Navpreet Kaur (2215948) Azeem Younas (2231163) Sri Madhavi Surapaneni (2204956) Aastha Goel (2201337) Akanksha Kshatriya (2227093)

Read More

Dodge Dart Case

773 Words | 4 Pages

You might have your eye on that small SUV, but if you’re trading up from a compact car the incentives for small cars are very strong as we reach the heart of the spring selling season. Consumers continue to shift their interest from cars to trucks and SUVs, and that means demand for the former has fallen, while interest in the latter is soaring. And if you know anything about the impact of supply and demand on prices, incentives follow the low-demand vehicles. Dodge Dart Discounted and Models Realigned For example, sales of the 2016 Dodge Dart are down by about one-third year-over-year through the first three months of this year.

Read More

Swot Analysis For Toms Shoes

837 Words | 4 Pages

The consumers in this segment prefer low priced cars with basic features that serve as good value of

Read More

Allegro Automotive Case Analysis

1681 Words | 7 Pages

The current state of the automotive industry is one of shrinking margins, changing consumer expectations and demands, as well as pressure from the government to increase fuel efficiency. There is increased competition in the American market as foreign companies challenge the “Big Two” automotive manufacturers. Costs increase while the price for their products has remained stagnant. One way that manufacturers have managed to stay profitable is actively working to decrease costs while needing to keep the selling price the same in order to be competitive. The most successful ones have changed their relationships with suppliers to a partnership between the two companies.

Read More

The Effect Of Shared Mobility On The American Auto Industry

665 Words | 3 Pages

(McKinsey, 2016).   Now, more than ever before, access to inexpensive transportation is fast and easy. Ride sharing services, like Uber, allow consumers to request a ride from an app on their smart phones. And car sharing services, like ZipCar, allow consumers, via a membership, to rent a car for short periods of time, anytime, without the hassle of renting from traditional car rental agencies. These services are becoming very popular in densely populated urban areas where vehicle ownership is costly due to expensive limited parking, rising fuel costs, repairs, and insurance.

Read More

Harley Davidson Executive Summary

3261 Words | 14 Pages

DIVERSIFICATION  Bring in new vehicles to new markets like India and China is a good choice, but it’s too costly.  Bringing new types of recreational vehicles is a best choice. IX) IMPLEMENTATION

Read More

Career Essay On Automotive Technician

1101 Words | 5 Pages

In the automotive industry is like a battlefield, with mechanics and repairs shops known to try to make an extra buck or two by selling customers parts they don 't know they don;t need and overcharging them for it, and many customers trying to balance their budget, it goes back and forth. In the end, however, the winner is usually the mechanic. us mechanics and customers usually don 't get along when coming to selling parts for cars. Most customers scare that us mechanic is going to cheat on them by selling unnecessary parts to them but it 's not true we don 't cheat on them, a car is a complex machine and most people don 't even know the basics of how it works and so they don 't know what 's actually is going on with

Read More

Analysis Of The Buyer Decision Process Of Porsche

1875 Words | 8 Pages

It has five doors fastback. So, the above differences between those cars influence the buying decision process of customer. Here, first stages of buying process i.e. need recognition is required for both customer groups of Cayenne and Panamera. Traditional customers of Porsche may ignore the second stage i.e. information search because the information regarding the cars of Porsche is already known to them. But

Read More

Porsche Case Study Summary

900 Words | 4 Pages

In the beginning of the early 1990’s Porsche faced a severe problem. After orders decreased to 30% from 1986 to 1993 the company was on the verge of bankruptcy. The loss of almost 240 Mio. DM was so far the biggest in the company’s history. Porsche’s day as an independent luxury car company seemed to be over.

Read More

Toyota Business Level Strategy Analysis

836 Words | 4 Pages

However, since 2010, this longstanding quality reputation has been unabatingly shattered by increased vehicle recalls that have seen virtually every class of consumer affected (Rajasekera, 2). Recognizing that its reputation and brand is at stake, Toyota has endeavored to not only publicly apologize, but also settle a class-action law suits totaling $1.1 billion. While this strategy may look inept to many, research provide that leadership requires swift acknowledgement of mistakes and fitting solutions which is what Toyota has done. Going forward, Toyota will need to fully embrace innovation as its key strategy, especially given the fact that the current industry life cycle has overstayed its maturity, which means that most automakers will be looking to create new demand and create more innovative

Read More

More about Executive Summary: Truecar

Related Topics

Open Document