SCHEDULE: Vanguard Group Updates TrueCar Stake to 4.94%

The Vanguard Group has filed an amended Schedule 13G, reporting a 4.94% beneficial ownership stake in TrueCar Inc. as of September 30, 2025.

Summary

• The Vanguard Group beneficially owns 4,376,310 shares of TrueCar Inc. common stock.
• This ownership represents 4.94% of TrueCar Inc.'s class of securities.
• The Vanguard Group holds sole dispositive power over 3,872,289 shares and shared dispositive power over 504,021 shares.
• Shared voting power is held over 475,162 shares, with no sole voting power.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of TrueCar Inc.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership by a passive institutional investor, providing factual information without indicating positive or negative sentiment towards the issuer's performance or outlook.

Positives

• The presence of a significant institutional investor like The Vanguard Group holding a 4.94% stake in TrueCar Inc. indicates institutional interest and inclusion in diversified portfolios.

Negatives

• No specific negative information regarding TrueCar Inc. or its operations is disclosed in this beneficial ownership report.

Risks

• The filing explicitly states that the securities were not acquired or held for the purpose of changing or influencing control of TrueCar Inc., mitigating a potential governance risk from this specific shareholder.

Future Outlook

This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding TrueCar Inc.'s future performance or outlook.

Management Comments

• Ashley Grim, Head of Global Fund Administration for The Vanguard Group, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of TrueCar Inc.

Industry Context

The Vanguard Group is one of the world's largest investment management companies. Its beneficial ownership in TrueCar Inc. reflects its broad market investment strategies, including index funds and actively managed portfolios, rather than a specific strategic move related to the automotive industry or TrueCar's competitive position.

Stakeholder Impact

• Shareholders of TrueCar Inc. gain transparency regarding the significant institutional ownership by The Vanguard Group, which can influence market perception and liquidity.

Key Dates

Keywords

TrueCar, Vanguard Group, Schedule 13G, beneficial ownership, common stock, institutional investor, asset management