TrueCar, Inc. (真) 2020年年度报告「NASDAQ」.pdf

1、Annual Report2020 2021 TrueCar,Inc.All Rights Reserved.TrueCar Annual Report 2020CEO Letter to StockholdersDear Fellow Stockholders,The year 2020 will undoubtedly be remembered as a period that challenged the very identity ofthis organization.The unexpected conclusion of a 13-year partnership and th

2、e onset of aglobal pandemic hit us at nearly the same time early in the year.By late March,all of our priorities had shifted.We focused on the things within our control,setting out a roadmap to stabilize the business and positioning TrueCar to capitalize on theindustry s rapid adoption of digital re

3、tailing.I defined stabilization as achieving breakeven profitability in the fourth quarter of the year,thefirst full period without USAA s contribution.We more than delivered on this promise thanks tostrict cost controls and record efficiencies across our branded channel.In the process,wetransformed

4、 our organizational design,driving$35 million in annualized cost savings whilesimultaneously better aligning team structures to help us accelerate towards our strategic vision.More importantly,our focus on near-term,tactical execution did not require us to sacrifice progresstowards our long-term vis

5、ion.Similar to many verticals,COVID-19 radically altered the automotive industry s view of onlineretailing.At the end of 2019,many of our dealer customers remained skeptical of the need toembrace digital retailing.However,when government-mandated closures forced them to find newways to reach consume

6、rs at home,they quickly adjusted.Writing this today,dealers have never been more open to new,innovative digital solutions.Thissecular shift comes at a great time for TrueCar.We are well into a multi-year effort to leverage our established marketplace differentiators andbuild a car buying experience