INEOS Automotive Partners with TrueCar to Show Support to Military Members

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Oct 30, 2024, 12:30 ET

Military members and their families can get exclusive access to $3,000 in manufacturer savings on the INEOS Grenadier through TrueCar Military, PenFed Credit Union, and Navy Federal Credit Union car buying sites

SANTA MONICA, Calif., Oct. 30, 2024 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE) the most trusted automotive digital marketplace, today announced INEOS Automotive is providing an exclusive $3,000 offer to TrueCar military members and their families on the purchase of its INEOS Grenadier, a rugged and purpose-built 4x4. Qualified buyers can utilize the $3,000 savings in addition to other manufacturer incentives and dealer pricing.

This exclusive offer is available through TrueCar Military and through TrueCar's affinity programs with PenFed Credit Union and Navy Federal Credit Union. Combined, these TrueCar-powered car buying sites serve more than 16 million military members and their families, providing them access to special discounts on hundreds of different vehicles through an easy to use and secure online platform. In the last year alone, more than 800k users visited the TrueCar Military site.

The Grenadier was devised by Sir Jim Ratcliffe, who identified a gap in the market for a hard-working 4X4 that combined best-in-class off-road capability with modern on-road driving refinement for people who enjoy the experience and adventure of being behind the wheel.

"We are thrilled to announce our partnership with INEOS," said Jantoon Reigersman, CEO of TrueCar. "Similar to TrueCar, INEOS is an innovator that isn't afraid to disrupt norms to make progress. With the Grenadier, they bring to market a 4x4 that opens a world of possibilities for those with the adventurous spirit - a perfect match for many of our military members."

Both TrueCar, through its "DriventoDrive" disabled veteran vehicle giveaway and INEOS, through its "Walking with the Wounded" program, have long and dedicated histories of supporting military members and their families. This collaboration brings the aggressive off-road excitement of the new Grenadier with the seamless online shopping process powered by TrueCar.

"Our partnership with INEOS marks a significant step forward in our mission to support military members and families," said Reigersman. "By providing exclusive deals and savings through trusted financial institutions, we are empowering these heroes to make informed and affordable car-buying decisions."

Forward-Looking Statements

This press release contains forward-looking statements. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding the expansion of our TrueCar+ offering, including the geographic expansion thereof and expansion through the addition of participating dealers and inventory as well as our ability to eliminate traditional complexities and uncertainties associated with car buying. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause our results to differ materially from those expressed or implied by such forward-looking statements, and include, among others, those risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission, or SEC, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 filed with the SEC and our quarterly report on Form 10-Q for the quarter ended June 30, 2024, to be filed with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. All forward-looking statements in this press release are based on information available to our management as of the date of this press release and, except as required by law, management assumes no obligation to update those forward-looking statements, which speak only as of their respective dates.

About TrueCar
TrueCar is a leading automotive digital marketplace that lets auto buyers and sellers connect to our nationwide network of Certified Dealers. With access to an expansive inventory provided by our Certified Dealers, we are building the industry's most personalized and efficient auto shopping experience as we seek to bring more of the process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new, used, and Certified Pre-Owned vehicles. When they are ready, shoppers in TrueCar's marketplace can connect with a Certified Dealer in our network, who shares our belief that truth, transparency, and fairness are the foundation of a great auto shopping experience. As part of our marketplace, TrueCar powers auto-buying programs for over 250 leading brands, including Sam's Club and Navy Federal Credit Union.

For more information, please visit www.truecar.com, and follow us on LinkedIn, Facebook, or X.

About INEOS Grenadier
In 2017, INEOS Chairman Jim Ratcliffe, a car enthusiast and experienced adventurer, identified a gap in the market for an uncompromising 4X4 engineered for modern day compliance and reliability. INEOS Automotive Limited was formed and a senior team of automotive professionals assembled to bring the vision to reality with a fresh perspective of 4X4 development and manufacturing.

In 2022 the INEOS Grenadier was launched: a truly global 4X4 built from the ground up that combines rugged British spirit and design with German engineering rigour. The Grenadier provides best-in-class off-road capability, durability, and reliability with the modern comfort and refinement customers expect wherever they are in the world. In 2023 a double-cab pick-up variant of the Grenadier was launched called the Quartermaster.

INEOS Automotive is a subsidiary of INEOS (www.ineos.com), a leading manufacturer of petrochemicals, speciality chemicals and oil products. It employs 26,000 people across 36 businesses, with a production network spanning 194 sites in 29 countries. From paints to plastics, textiles to technology, medicines to mobile phones, materials manufactured by INEOS enhance almost every aspect of modern life. In 2021, INEOS had sales of $65bn.

To find out more about Grenadier, visit www.ineosgrenadier.com

SOURCE TrueCar