Krafcik Named President at TrueCar

Former Hyundai Motor America CEO John Krafcik, who joined the board of TrueCar Inc. a month ago, has been named to the newly created position of president of the online car-buying service.

TrueCar is planning an initial public offering and indicates it intends to add trade-in, lease and loan services. Dealers pay the company a fee when they convert a TrueCar lead into a sale.