TrueCar, an automotive pricing and information website for buying and selling new and used vehicles, has recently announced the acquisition of automotive retail and FinTech platform Digital Motors Corp. The aim of this acquisition is to foster TrueCar’s plan to offer a robust digital car buying and selling experience with its TrueCar+ marketplace.
Mike Darrow, President and CEO of TrueCar, said that their firm is continuously working to create an asset-light marketplace where potential customers have easy and transparent access to a national vehicle stock and their dealers can efficiently interact with the national consumers.
He further said that the Digital Motors acquisition is a milestone in the acceleration of this planned marketplace, which will deliver immediate access to new resources to boost the development of a secure online buying and financing experience.
The acquisition will help TrueCar target and attract more vehicle dealers, lenders, OEMs, brands, and other partners, said Mr. Darrow.
He also quoted that with this partnership TrueCar will gain an experienced team who is specialized in building automotive e-commerce and Fintech solutions. This will further help the company fulfill its vision of making TrueCar+ a unique automotive marketplace.
Andreas Hinrichs, CEO of Digital Motors, said that the company is really thrilled to join hands with TrueCar and help it to expand by making online car buying and selling a delightful and efficient experience for all the parties involved.
He further added that Digital Motors’ scalable and configurable online retailing engine, which can be deployed for a wide range of automotive use cases will be of immense help to TrueCar+.
For the unversed, Digital Motors’ financial technology and automotive retail platform provide auto dealers, lenders, OEMs and other stakeholders the ability to bolster their physical presence with a digital marketplace that delivers smooth car buying experience to customers.