TrueCar hires again to boost dealer ties
DETROIT -- TrueCar Inc. has hired another executive to improve dealer relations.
Ken Potter has joined the online shopping site and lead generator as vice president of dealer development, responsible for building the company's network of participating dealers.
Potter had been a vice president and general manager of automotive for Internet Brands, including responsibility for CarsDirect.com, an Internet shopping site.
"My understanding of the online automotive space and managing dealerships will be valuable as I meet with dealers to find solutions and better address their needs," Potter said in a statement released today.
Potter is the second major executive addition this month to help TrueCar rebuild a dealer network hurt by regulatory crackdowns in several states against various alleged advertising and brokering issues.
TrueCar also hired Pat Watson, retired CEO of the South Carolina Automobile Dealers Association, to head up relations with various dealer associations across the country.
TrueCar has said it has corrected its operating model over the past two months to comply with state regulations.
Its network of participating dealers has shrunk since the controversy began in December from 5,700 franchises to about 3,700 today.
TrueCar has switched in several states from a pay-for-sale model, in which dealers paid TrueCar a $299 fee only if a lead from its Web site resulted in a vehicle sale, to a more traditional subscription model. In the latter, dealers pay a monthly subscription fee to list inventory on TrueCar.com and receive TrueCar leads.
TrueCar continues to legally operate with the pay-per-sale model in more than a dozen states.
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