TrueCar: More Than $1B Saved For Consumers

Santa Monica-based TrueCar, the automotive software and purchasing service headed by Scott Painter, claims this morning that it has saved more than $1 billion for car consumers. The firm, which provides software which allows users to configure and select automobiles with pre-negotiated discounts, said those savings came from the over 270,000 cars which have been sold through its auto-buying platform. TrueCar's platform is used by automotive discount and purchasing programs from credit unions and others, as well as by dealers with upfront pricing programs. The company said the average consumers saves and average of $4,154 over MSRP of a new car. TrueCar's software powers programs from American Express, AAA, USAA, and others.