TrueCar, Inc. (真) 2021年年度报告「NASDAQ」.pdf

1、 Annual Report 2021TrueCar Annual Report 2021CEO Letter to StockholdersMichael DarrowPresident and Chief Executive OfficerDear Fellow Stockholders,The past year was one of sharp contrast between the first and second half.During the first half of 2021,we saw the seasonally adjusted annual rate(SAAR)f

2、or new vehicles hit a three-year peak in April before dropping to historic lows in September and staying near these lows in December as component shortages and disruptions across the global supply chain hindered new vehicle production.This left domestic dealerships with a limited supply of new car i

3、nventories on hand during the second half of 2021.Dealers also saw inventory constraints in used vehicles in 2021,although to a lesser extent than in new vehicles,and struggled to replenish their stock.At the same time,demand for vehicles recovered quickly from pandemic lows and remained strong thro

4、ughout 2021.The imbalance caused by limited supply and strong demand drove vehicle prices 40.5%higher for used cars and trucks and 12.2%higher for new vehicles in January 2022,when compared to the prior year.The combination of limited dealer inventories and elevated pricing created considerable head

5、winds for TrueCar,negatively affecting our close rates and reported units,particularly during the second half of 2021.Signs of stabilization of inventories began to emerge in the final quarter of 2021,albeit at low levels.We also saw our dealer counts stabilize in January 2022,and although this metr

6、ic may still fluctuate,here too the trend leads us to believe that conditions may have bottomed during the fourth quarter.We are encouraged by this,but believe it will be some time before inventories rebuild and vehicle prices start to improve.Throughout this challenging period,we managed our busine