CAMBRIDGE, Mass., May 11, 2022 (GLOBE NEWSWIRE) — CarGurus (CARG) today announced an expansion of its automotive retail offerings with the launch of CarGurus Digital Deal, a retail platform that enables buyers to create a personalized offer, at almost a penny. perfect deal via the CarGurus dealer listing page. The launch of Digital Deal brings greater efficiency and flexibility to dealerships and consumers, with dealerships able to seamlessly integrate and customize their digital retail offerings with the CarGurus platform and consumers able to start their purchase from home.
Digital Deal is the follow-up to CarGurus Convert, a 12-month pilot program launched in April 2021. Dealers in this pilot program sold cars more efficiently with higher quality leads that converted and closed twice as many as traditional leads , and consumers completed checkout had a 7x higher appointment rate. Dealerships can combine the power and reach of CarGurus’ 31 million unique average monthly consumer visitors in the U.S. with a unique new digital platform at their rooftops featuring F&I products, lenders and more on their dealership page. advertisement. Digital Deal now allows dealers to seamlessly integrate:
- Increased finance functionality including full credit application routed to Dealertrack or RouteOne
- Financing at real rates1 from preferred dealer lending partners
- F&I protection products at dealer defined margins
- Appointment setting that drives dealership traffic
- Delivery scheduling options for dealerships that offer out-of-market delivery
- Optional reservation deposit of $500
Digital Deal not only simplifies the process for dealers to work with prospects by integrating with Dealers CRM, RouteOne and DealerTrack programs, but it also allows dealers to sell more cars by adding Area Boost. This solution allows them to sell outside of their local markets and compete with national online retailers – adding CarGurus dealerships delivered by Area Boost up to a 120% increase in leads. Digital deal listings are available to consumers nationwide today with hundreds of resellers registered. To learn more about how the Digital Deal works, click here.
“What I love about CarGurus Digital Deal is that leads are of higher quality, tend to be more engaged in the buying process, and are closer to the end of the buying cycle – meaning they’re ready to buy when they find the vehicle that meets their criteria,” said Chris Gladden, Internet Sales Manager at Jerry Hunt Supercenter. customer can get accurate payments and rates online, helping to move the transaction along faster.”
“CarGurus Digital Deal provides dealers of all sizes with a new, high-converting sales channel that effectively draws shoppers into stores and helps dealers maintain financial and insurance profits,” said Brad Rosenfeld, executive vice president. of Digital Retail at CarGurus. “Our digital retail platform continues to provide flexible, best-in-class solutions for dealers and buyers, both locally and nationally, and the initial results dealers have seen with Digital Deal are truly exciting. . We look forward to strengthening these partnerships with our dealer community while continuing to provide them with the best solutions for their business. »
Dealers can sign up for the CarGurus Digital Deal today. Dealers interested in learning more can contact their representative, call 1-800-CARGURUS or email [email protected] for more information.
CarGurus (CARG) is a multinational online automotive platform for buying and selling vehicles that leverages its industry-leading listings marketplace with both digital retail solutions and the platform. online wholesale form CarOffer. The CarGurus Marketplace gives consumers the confidence to buy or sell a vehicle online or in person, and it gives dealers the power to accurately price, market effectively, instantly acquire and quickly sell vehicles, the all with a national scope. The company uses proprietary technology, search algorithms and data analytics to bring trust, transparency and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the United States (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Visits, Q1 2022, US, as of May 9, 2022).
CarGurus also operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. In the US and UK, CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands.
To learn more about CarGurus, visit www.cargurus.com and for more information about CarOffer, visit www.caroffer.com.
CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners.
© 2022 CarGurus, Inc., All Rights Reserved.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements in this press release other than statements of historical facts, including, without limitation, statements regarding our expectations for the launch of the CarGurus Digital Deal, including the value proposition for consumers and dealerships, as well as our business and strategy, are forward-looking. research statements. The words “anticipate”, “believe”, “continue”, “estimate”, “expect”, “guide”, “intend”, “probable”, “may”, “will” and expressions like and negatives thereof are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections regarding future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, operations and business objectives in the near and future. long term and our financial needs. . These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks relating to our growth and our ability to increase our revenues; our relationships with dealers; competition in the markets in which we operate; market growth; our ability to innovate; our ability to profit from our acquisitions and successfully implement integration strategies in connection therewith; natural disasters, epidemics or pandemics, such as COVID-19, which have had an adverse impact on our business; global supply chain challenges, semiconductor chip shortages and other macroeconomic issues; our ability to operate in compliance with applicable laws, as well as other risks and uncertainties that may be detailed from time to time in our annual reports on Form 10-K and our quarterly reports on Form 10-Q and other reports that we deposit with the securities and exchange commission. Additionally, we operate in highly competitive and rapidly changing environments. New risks appear from time to time. It is not possible for our management to predict all risks, nor to assess the impact of all factors on our business or the extent to which any one factor, or combination of factors, may cause results actual differ significantly from those contained in the forecasts. – forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee that the results, levels of activity, performance, achievements or future events and circumstances reflected in the forward-looking statements will occur. We undertake no obligation to update these forward-looking statements after the date of this press release to conform them to actual results or revised expectations, except as required by law. You should therefore not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
1 Rates subject to terms and conditions agreed with a participating lender.