TrueCar Announces Used Vehicle Pricing Index

Santa Monica-based TrueCar, the car pricing startup headed by Scott Painter, has announced a new product today, focused on used vehicle pricing. According to TrueCar, its new ClearBook service will provide a used vehicle pricing index, based on pure computational analytics, using the firm's ability to tap into aggregated used car listings. The new service shows consumers a price distribution curve, so that consumers can see how a used car might sell for based on actual, marketing listing prices. TrueCar said its ClearBook service is expected to launch by the end of the year. The firm said the new pricing site looks to get beyond the issues of subjectivity in used vehicle pricing guides, and to more accurately reflect actual market demand. TrueCar is targeting competitors Kelley Blue Book (KBB)--which was just acquired today by National Automobile Dealers Association Guide (NADA) and Black Book (Hearst).