By Jon LeSage, editor, Used Car Market Reports
Big changes have been taking place at TrueCar this year. Founder and CEO Scott Painter announced his exit in August, and President John Krafcik left for Google’s driverless car project in September. Larry Dominique, its executive vice president and head of ALG, will be leaving by the end of the year. Now, 62-year-old industry veteran Chip Perry is taking over as the new CEO at TrueCar on Dec. 15 when Painter leaves the company.
Here are a few of my thoughts on what these changes could mean:
- Chip Perry will bring years of experience in the online car buying experience to the helm as the founder and long-time chief executive at Autotrader.
- Perry’s first objective will be to strengthen TrueCar’s tumultuous relationship with dealers. Listening to dealers and finding better ways to serve them will be his initial focus, he said.
- Perry has been carefully following TrueCar’s actions for years and thinks the company has “built incredible tools for car buyers and retailers and has a strong base on which to grow.”
- TrueCar will need to reassess its role in the leasing residual value forecast space. The last edition of ALG Industry Report hasn’t been published since the spring, and when you click on that page, it takes you to TrueCar’s Insights page.
- Larry Dominique was cited in the market report study from Insights that’s featured this week in Used Car Market Reports.
- Eric Lyman, who for years has been the voice of ALG along with Dominique, is remaining at TrueCar as VP, Industry Insights. Lyman is featured in TrueCar industry analysis studies as an expert on new and used vehicle sales.