TrueTrends AUTOMOTIVE INTELLIGENCE COVERING NEW CAR PRICES, BEST CAR DEALS AND MORE

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1 PRESENTS TrueTrends AUTOMOTIVE INTELLIGENCE COVERING NEW CAR PRICES, BEST CAR DEALS AND MORE April, 0

2 Table of Contents 9 0 TrueMPG The goal of TrueMPG is to measure the actual miles per gallon of all vehicles sold in a given month. Calculations start at the trim level, taking into account EPA fuel economy data that includes engine size and drivetrain factors that affect a vehicle s MPG ratings. TrueMPG aims to illustrate the actual MPG s of each brand, manufacturer and vehicle segments to give consumers, media, and the industry a better understanding of fuel efficiency. To ascertain TrueMPG, TrueCar.com utilizes the EPA s average fuel economy rating using percent highway and percent city driving behavior. The overall industry MPG is. for March 0. Performance Scorecards The TrueCar.com Scorecard measures the overall performance of a brand or manufacturer based on pricing, sales, incentives, customer loyalty, market share, and inventory turn data. TrueCar.com s Flex Score The TrueCar.com Flex Score measures the elasticity of transaction price by model. The Flex Score calculation dynamically incorporates the factors that affect price variance including the model s transaction price range, current inventory and sales data. A vehicle experiencing extremely low inventory and a small range of transaction prices will have a low Flex Score. Don t expect much of a discount from the TrueCar.com average transaction price on a vehicle with a low Flex Score. If a vehicle has a high Flex Score, however, you have the potential to strike a deal significantly below (or above, if you re not careful!) the TrueCar.com average transaction price. Greatest Discounts Featuring the highest discounts on 0 models. Large Trucks, Large SUVs and Large Cars offer the greatest discounts at an average below MSRP of % or more. The top 0 brands with the biggest discounts are Chrysler, Ram, Buick, Dodge, and Acura. The overall industry discount is about.%. Largest Total Incentives for April This month, the 0 BMW Series Hybrid has the largest total incentives with $,00 in dealer cash. Greatest Drop Month over Month For each body type, TrueCar.com.com tracks the average transaction price for each trim and lists the vehicles with the greatest drop in price month over month. This month s greatest drop in price is in the Luxury SUV segment, with a $, difference from last month on the 0 Lexus LX 0. Shortest and Longest Days in Inventory Large Cars, Large SUVs, and Vans are where the best potential inventory-based discounts will be seen. On average, Large Cars are staying in inventory for 6 days, while Large SUVs and Vans are on-lot for and 6 days respectively. The average days in inventory is 0 days. Subcompact cars have an average inventory stay of 6 days, Luxury SUVs at days, Midsize SUVs at days, and Luxury cars at 6 days. Model Year Share Model Year Share shows the percentage of 0 and 0 model year vehicles that have been sold within the last month. The makes with the highest percentage of 0 Model Year Share are Fiat, smart, Subaru, Audi, and Hyundai. Model year 0 vehicles make up 9.% of the market this month. April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

3 TrueMPG TrueMPG by Brand Brand March, 0 February, 0 March, 0 Change YoY Change MoM smart Fiat.. MINI Hyundai Volkswagen Kia Scion Mazda Honda Toyota Subaru Mitsubishi Nissan Suzuki Buick Ford Lexus Audi Chevrolet BMW Chrysler Volvo Acura Saab Lincoln Dodge Mercedes-Benz Porsche Infiniti April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

4 Jeep GMC Cadillac Jaguar Ram Land Rover Industry Brand March, 0 February, 0 March, 0 Change YoY Change MoM TrueMPG ( Continued... ) April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc. TrueMPG by Manufacturer Large Car Large SUV Large Truck Luxury Car Luxury Sport Car Luxury SUV Midsize Car Midsize SUV Minivan Small Car Small SUV Small Truck Sport Car Subcompact Car TrueMPG by Brand ( Continued... ) BMW Chrysler Daimler Ford GM Honda Hyundai Jaguar Mazda Mitsubishi Nissan Porsche Saab Subaru Suzuki Toyota Volkswagen Volvo Industry

5 Brand Performance Scorecard Grade Overall performance grade compared to the other brands or manufacturers. Discount Percentage Transaction price over MSRP for the last 0 days. The lower the discount the higher the grade. Variation Standard deviation of transaction price over MSRP over the last 0 days. The lower the variation the higher the grade. Customer Loyalty Percentage of new-vehicle buyers who are replacing their current car or truck with the same brand. The higher the loyalty percentage the higher the grade. Retail Sales Change A year over year comparison of change in retail sales per brand or manufacturer. The higher the change percentage the higher the grade. TrueCar.com Trending Average price of vehicles published on TrueCar.com.com (normalized by MSRP). It is based on the change of this month s average TrueCar.com /MSRP relative to the average TrueCar.com /MSRP over the last twelve months. The lower the change the higher the grade. Incentives/ A measurement of incentives per unit over transaction price. The lower the ratio the better the grade. Market Share Change A year over year calculation of a brand or manufacturer s U.S. market share. The higher the change the better the grade. Days in Inventory Average number of days to sell a vehicle once it reaches a dealership lot. The lower the number of days, the higher the score. YEAR OVER YEAR COMPARISONS LOOK AT March 0 OVER March 0. Brand Performance Scorecard Grade Change Since Last Month Strong Weak Brand Grade Chg Discount Percentage Variation Customer Loyalty Retail Sales Change TrueCar.com Trending Incentives/ Market Share Change Days in Inventory Hyundai A+ Ford A+ Land Rover A Scion A Dodge A Jeep A- Chrysler A- Audi A- Toyota B+ Subaru B+ Kia B+ Buick B Lexus B Mitsubishi B Mercedes-Benz B Lincoln B- MINI B- April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc. POWERED BY

6 Brand Performance Scorecard Brand Performance Scorecard ( Continued... ) Grade Change Since Last Month Strong Weak Brand Grade Chg Discount Percentage Variation Customer Loyalty Retail Sales Change TrueCar.com Trending Incentives/ Market Share Change Days in Inventory Porsche B- Volkswagen B- Jaguar C+ Chevrolet C+ Cadillac C+ Ram C Nissan C BMW C FIAT C- Volvo C- Honda C- Acura D+ GMC D+ Suzuki D+ Mazda D Infiniti D smart D- POWERED BY April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

7 Manufacturer Performance Scorecard Manufacturer Performance Scorecard Grade Change Since Last Month Strong Weak Manufacturer Grade Chg Discount Percentage Variation Customer Loyalty Retail Sales Change TrueCar.com Trending Incentives/ Market Share Change Days in Inventory Ford A+ Hyundai A Jaguar Land Rover A Subaru A- Toyota B+ Chrysler B Mitsubishi B Daimler B Volkswgen B- Porsche B- BMW B- GM C+ Nissan C+ Volvo C Honda C Suzuki C- Mazda D+ POWERED BY April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc. 6

8 Flex Scores for 0 Below are the highest and lowest Flex Scores for 0 models. Scores range from to 00. A score of is the lowest Flex Score, which indicates little or no negotiating power. A score of 00 is the highest Flex Score, meaning there is a big range of transaction prices for that model. Least and Most Flexible 0 Vehicles ( by Vehicle Category ) Vehicle Category Least Flexible Most Flexible Large Car Large SUV Large Truck Luxury Car Luxury SUV Luxury Sport Car Midsize Car Midsize SUV Minivan Small Car Small SUV Small Truck Sport Car Subcompact Car Van Toyota Avalon (Score: 9) Chevrolet Tahoe Hybrid (Score: 6) Cadillac Escalade EXT (Score: ) Lexus HS 0h (Score: ) Audi Q (Score: ) Audi TT RS (Score: ) Mitsubishi Galant (Score: ) Mazda CX- (Score: ) Chrysler Town & Country (Score: 9) Nissan LEAF (Score: ) Nissan cube (Score: 0) Suzuki Equator (Score: 9) Hyundai Veloster (Score: 0) Scion xd (Score: ) Mercedes-Benz Sprinter Chassis-Cab (Score: 0) Chrysler 00 (Score: 9) GMC Acadia (Score: 00) Chevrolet Silverado 00 (Score: 99) Mercedes-Benz C-Class (Score: 9) Mercedes-Benz M-Class (Score: ) Chevrolet Corvette (Score: 9) Hyundai Azera (Score: 9) Ford Explorer (Score: 9) Volkswagen Routan (Score: 9) Mitsubishi Lancer (Score: 96) Mitsubishi Outlander Sport (Score: 9) GMC Canyon (Score: 00) Dodge Challenger (Score: 9) FIAT 00 (Score: 9) Mercedes-Benz Sprinter Cargo Vans (Score: ) Least Flexible 0 Models Score Make Model Most Flexible 0 Models Score Make Model Audi TTS 00 GMC Acadia Lexus HS 0h 99 Chevrolet Traverse Nissan LEAF 9 Nissan Titan Acura TSX 9 Volkswagen Routan Scion xd 9 Ram 00 Hyundai Accent 96 Mitsubishi Lancer Chevrolet Volt 9 Hyundai Azera Honda CR-Z 9 Dodge Challenger Toyota Matrix 9 Ford Explorer Volvo C0 9 Suzuki Kizashi ONLY ONE MODEL PER MAKE WAS SELECTED FOR THE LEAST AND MOST FLEXIBLE MODELS. April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

9 Greatest Discounts The greatest percent below MSRP helps identify the biggest consumer discounts of the month. Below, TrueCar.com ranks 0 vehicles with average transaction prices that comprise the greatest percent off the make or model s average MSRP. Makes with the Greatest Discount Trends on 0 Vehicles % Chrysler Ram % Buick Dodge Acura 9% DISCOUNTS ARE BASED ON A PERCENTAGE BELOW MSRP (STICKER PRICE). % % POWERED BY JANUARY FEBRUARY MARCH APRIL Top Discounts for 0 Makes Rank Make % Below MSRP Top Discounts for 0 Models Rank Make % Below MSRP Chrysler.% Chevrolet Malibu.% Ram.% Chrysler 00 0.% Buick.0% Dodge Avenger 0.% Dodge 6.6% Jeep Liberty 9.% Acura 6.% Chevrolet Avalanche.0% April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

10 Greatest Discounts ( Continued... ) The greatest percent below MSRP helps identify the biggest consumer discounts of the month. Below, TrueCar.com ranks 0 and 0 vehicles with average transaction prices that comprise the greatest percent off the make or model s average MSRP. 0 Top Discounts ( by Vehicle Category ) Top Discounts ( by Vehicle Category ) Vehicle Category Model % Below MSRP Vehicle Category Average % Below MSRP Midsize Car Chevrolet Malibu.% Large Truck 9.% Small SUV Jeep Liberty 9.% Large SUV 6.% Large Truck Chevrolet Avalanche.0% Large Car 6.% Large Car Dodge Charger.9% Midsize Car 6.% Luxury Sport Car Chevrolet Corvette.% Van 6.% Van Chevrolet Express Cargo Van.% Minivan.% Large SUV Chevrolet Traverse.0% Luxury Sport Car.% Luxury Car Acura TL 6.% Luxury Car.0% Minivan Nissan Quest.9% Small SUV.% Midsize SUV Jeep Grand Cherokee.9% Luxury SUV.0% Small Car Dodge Caliber.9% Midsize SUV.% Luxury SUV Acura RDX.% Small Truck.% Sport Car Dodge Challenger.9% Small Car.6% Small Truck Chevrolet Colorado.% Sport Car.% Subcompact Car Suzuki SX.% Subcompact Car 0.9% % OFF INDICATES THE AVERAGE DISCOUNT FROM MSRP. Large trucks, Large SUVs, and Large Cars offer the greatest discounts at an average below MSRP of % or more. Subcompact cars have the smallest discounts at.0%. The overall discount from MSRP for all segments is.% Largest Total Incentives for April This table shows the highest incentive for each brand ranked. Generally, incentives are active throughout the month in which TrueTrends by TrueCar.com is released. Though active at the time of the report s release, incentives are subject to change without notice. Check for updates on the TrueCar.com price report for each model and with your dealer. Models with Largest Total Incentives Rank Make / Model Customer Cash Rebate Dealer Cash 0 BMW Series Hybrid $,00 $0 0 Volkswagen Routan $0 $,000 0 Chevrolet Impala $0 $,00 0 Chevrolet Malibu $,000 $,000 0 BMW -Series d $,00 $0 April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc. 9

11 Greatest Drop Month Over Month For each body type, TrueCar.com tracks the average transaction price for each trim and lists vehicles with the greatest drop in price month over month. TrueCar.com also ranks the trims for unique makes with the overall greatest drop in price from March 0th, 0 to April 6th, 0. Top Vehicles ( by Vehicle Category ) Vehicle Category Year / Make / Model $ Drop From Last Month Luxury SUV Midsize SUV Luxury Sport Car Minivan Large Car Luxury Car Large Truck Van Large SUV Small SUV Small Car Midsize Car Subcompact Car Sport Car Small Truck 0 Lexus LX 0 0 Mazda CX- 0 Mercedes-Benz SLK-Class 0 Nissan Quest 0 Chrysler 00 0 Audi A L 0 Chevrolet Silverado 00HD 0 Econoline Cargo Van 0 Dodge Durango 0 Mitsubishi Outlander 0 Mitsubishi Lancer 0 Honda Accord Sedan 0 Scion xd 0 Chevrolet Camaro 0 Chevrolet Colorado ($,) ($,0) ($,0) ($,06) ($,0) ($) ($) ($) ($66) ($6) ($6) ($) ($6) ($9) ($) Top Vehicles ( Overall *excludes vans) Rank Year / Make / Model $ Drop From Last Month 0 Lexus LX 0 0 Mazda CX- 0 Mercedes-Benz SLK-Class 0 Nissan Quest 0 Chevrolet Corvette ($,) ($,0) ($,0) ($,06) ($,00) April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc. 0

12 April s Shortest and Longest Days in Inventory Shortest to Longest Days in Inventory ( by Vehicle Category ) Rank Vehicle Catgegory Average Days in Inventory Shortest & Longest Days in Inventory Subcompact Car Luxury SUV Midsize SUV Luxury Car Small Car 6 Days Days Days 6 Days 6 Days TrueCar.com ranks the vehicles that spend, on average, the shortest and longest days on the lot before they sell. We rank by both overall shortest / longest days in inventory and by category. Vehicles that spend little time in inventory are typically in high demand, while vehicles that spend an extended time in inventory are in low demand. 6 Small SUV Days Industry Wide Average Days in Inventory Luxury Sport Car Days April, 0 - Days Small Truck Days March, 0 - Days Midsize Car Days April, 0-0 Days 0 Sport Car Days 0 Large Truck Days Minivan 9 Days Van 6 Days Large SUV Days Large Car 6 Days 0 Vehicles: Shortest Days in Inventory 0 Vehicles: Longest Days in Inventory Rank Model / Year Days in Inventory Rank Model / Year Days in Inventory Nissan cube Days Buick Regal Days Toyota Prius Days Chevrolet Malibu 0 Days Toyota RAV 0 Days GMC Terrain 9 Days Toyota Corolla Days Dodge Avenger Days Dodge Nitro 6 Days Chrysler 00 Days 6 Ford Ranger Days 6 Dodge Durango Days Ford F-0 6 Days 6 Dodge Challenger Days Toyota Venza 9 Days Nissan Maxima 0 Days 9 Mitsubishi Lancer Days 9 Chevrolet Traverse 6 Days 0 BMW - Series 9 Days 9 Chevrolet Tahoe 6 Days April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

13 April s Shortest and Longest Days in Inventory ( Continued... ) 0 Vehicles: Shortest Days in Inventory 0 Vehicles: Longest Days in Inventory Rank Model / Year Days in Inventory Rank Model / Year Days in Inventory Toyota Prius c Days Nissan NV Days Audi Q Days FIAT 00 Days Hyundai Elantra Days Mitsubishi Outlander 6 Days Honda CR-V Days Volkswagen Eos Days Mercedes-Benz CLS-Class Days BMW Series 0 Days Subaru Impreza Sedan WRX Days 6 Honda Civic Hybrid 00 Days Land Rover Range Rover Sport Days 6 Dodge Caliber 00 Days Volkswagen Jetta SportWagen Days Chevrolet Express Passenger 9 Days 9 Audi Q Days GMC Canyon 9 Days 9 Ford Econoline Wagon Days 0 Nissan Pathfinder 90 Days Model Year Share Model Year Share shows the percentage share of 0 and 0 model year vehicles sold within the last month versus vehicles of any other model year sold. Generally, the higher the model year share value, the higher the discount a consumer can expect to receive on that given model. It also reflects that dealers are more likely to cut deals on a 0. At this time of year, many brand s model year mix are predominantly comprised of 0 s. Highest Percentage of 0 Vehicles Sold Percent Industry Share of Model Year Vehicles Rank Make Mitsubishi % of Sales 6.% 0.%.% 0 Vehicles Jaguar.% 0 Vehicles Land Rover.% 0 Vehicles Chrysler 9.% BMW.% Highest Percentage of 0 Vehicles Sold 9.% Rank Make % of Sales FIAT 00% smart Subaru 00% 99.% 0 vehicles make up.%, 0 s make up 9.% of total sales, and 0 vehicles make up 0.%. Audi 99.% Hyundai 99.% POWERED BY April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

14 Appendix About Us TrueCar, Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners to gain incremental market share and reduce costs. TrueCar is a visual publisher of new car transaction data. TrueCar price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid recently for a similar car both locally and nationally. TrueCar workswith a national network of dealers that provide up-front, no-haggle, competitive pricing to assist some of the nation s largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers. Collectively these audiences represent over M in-market customers each month. TrueCar is headquartered in Santa Monica, CA and has offices in San Francisco, CA and Austin, TX. With percent annual growth since 006, TrueCar has helped dealers sell over 00,000 vehicles and is developing a suite of products and services centered on radical clarity as a result of comprehensively analyzing market data and information.the nation s largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers. These partnerships include American Express, AAA, USAA and more than 60 others. Collectively these audiences represent over M in-market customers each month. TrueCar.com, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco. The company was founded in 00 and has been profitable since 009. With nearly 00 percent year-over-year growth TrueCar.com has driven over 00,000 sales and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensivelyanalyzing market data and information. Disclaimer This report and the information contained herein is for your noncommercial, personal use on an as-is, as available basis and September be used by you for informational purposes only. TrueCar.com makes no representations or warranties, express or implied, with respect to the information contained in this report and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose, and non-infringement. The information contained in this report may include technical inaccuracies or typographical errors. Neither TrueCar.com nor any of its parents, subsidiaries, affiliates, or their respective partners, officers, directors, employees, or agents shall be held liable for any damages, whether direct, incidental, indirect, special, or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this report. Contact Us TrueCar.com Inc. Santa Monica Blvd, 6th Floor Santa Monica, CA 900 (00) Visit us at April 6th, 0 - TrueTrends by TrueCar.com - 0 TrueCar.com, Inc.

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