What’s new at CarGurus? Quarterly product updates
The CarGurus Dealer Blog
by Beth Burke
1y ago
The CarGurus Product teams have been hard at work, continuing to build new features and product enhancements that give our dealer partners more of what they need to succeed. Here are the key CarGurus product improvements you can expect now, and in the weeks to come. Introducing CarGurus Digital Deal!  Our newest digital retail product, Digital Deal, is now available for all US dealers. This exciting new product gives dealers higher quality leads to close more business in less time.  Digital Deal adds the deal-building process to your CarGurus listings, customized with your financing ..read more
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Introducing CarGurus Digital Deal!
The CarGurus Dealer Blog
by Beth Burke
1y ago
We’re excited to announce a major expansion in our automotive retail offerings with the launch of CarGurus Digital Deal, a retail platform that allows shoppers to build a personalized, near penny-perfect deal through dealers’ CarGurus listing pages. Why Digital Deal?  Grow conversions with higher quality leads Fast track sales Customize every deal with your dealership’s existing F&I products and lenders Deliver an upgraded online experience Our early dealer partners using Digital Deal have seen huge success so far, with leads that are 2x more likely to close*. The launch of Digital ..read more
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Consumer interest in EVs accelerated after gas prices spiked, according to CarGurus research
The CarGurus Dealer Blog
by Meg Bernazzani
1y ago
In April 2022, CarGurus released the results from its annual survey of automobile owners on their sentiments towards electric vehicles (EVs). It’s the fourth year the online survey has been conducted, and the results show that EVs continue to pose a huge opportunity for dealerships and the auto industry as a whole. Here are the key findings, plus what they mean for dealers: Excitement for EVs is being fueled by the reality of high gas prices Since the first iteration of this study in 2018, interest in electric vehicles has risen steadily each year. In February and March of this year, though, e ..read more
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CarGurus Intelligence Report – April 2022
The CarGurus Dealer Blog
by Kevin Roberts
1y ago
This month, CarGurus Director of Industry Analytics Kevin Roberts dives into the latest industry trends from April 2022. Take a look at his key takeaways below or download the April edition of the CarGurus Intelligence Report.  Average used listing prices finally decline After months of anticipation, the top-line average used listing price values declined in April by 0.6%. This number had continued to increase, even with wholesale prices declining, due to higher-priced vehicles sitting on the market as consumers sought out more cost-effective options. While a decline is welcome, there rem ..read more
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Boston Globe on how CarGurus is adapting to current state of the market
The CarGurus Dealer Blog
by Beth Burke
2y ago
CarGurus CEO Jason Trevisan sat down with The Boston Globe to discuss the ongoing supply shortages and why they may linger longer than anticipated. “The prevailing wisdom from a few months ago was that the inventory shortage would likely abate toward the end of this year. But the tragedy and disruption occurring in Russia and Ukraine right now is creating a new concern about further supply chain disruption. Because some of the metals are sourced [from the region], and also some of the downstream flow of vehicles between Europe and the US. You’re starting to hear some sentiment that the supply ..read more
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Reputation, trust, and today’s car shopper
The CarGurus Dealer Blog
by Meg Bernazzani
2y ago
It’s no secret that today’s shoppers are increasingly completing more of the car-buying process online. With so many resources available, digital makes it easy to research makes and models, compare prices, and importantly, research sellers’ reputations. Most CarGurus shoppers (59%) say they always look at a dealer’s reviews before contacting them.* Reviews help validate the dealership experience and build a shopper’s trust with a dealer before ever walking through the dealership’s doors. At CarGurus, we’ve always believed that a dealership’s digital experience and online reputation are extreme ..read more
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CarGurus Vehicle Availability Index & Insights – March 2022
The CarGurus Dealer Blog
by Kevin Roberts
2y ago
After a disruptive February, the automotive environment continued its dynamism in March as a delayed tax season finally started to increase consumer demand, impacting inventory and prices. Additionally, ongoing supply chain challenges continued to impact the outlook for a “return to normal,” with expectations now shifting to Q4 from Q3 for full production to return. Both new and used inventory saw a divergence in March where, surprisingly, new inventory levels improved by 8.9% despite continued production delays – levels, though, remain down 62.1% compared to last year. As mentioned, it looks ..read more
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CarGurus’ Navigate Conference is hitting the road in 2022
The CarGurus Dealer Blog
by Beth Burke
2y ago
In 2019, we introduced Navigate, a first-of-its-kind conference where automotive insights meet action through inspiring content from industry leaders and face-to-face networking opportunities. In 2020 and 2021, we brought that same energy and excitement to you virtually. And this year, we’re excited to announce Navigate on the Road, a series of regional events that will bring everything you love about Navigate to a city near you – kicking off in Dallas, Texas in May. Enjoy a session-packed day of powerful and market-specific insights you won’t get anywhere else, plus enjoy in-person networking ..read more
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How to use your Top-Rated Dealer Award to set your dealership apart
The CarGurus Dealer Blog
by Meg Bernazzani
2y ago
Earlier this month, we announced our 2022 CarGurus Top-Rated Dealer Awards recognizing an exclusive group of our dealer partners who earned an average dealer rating of 4.5 stars or higher and collected at least five verified customer reviews in 2021. Congratulations on delivering exceptional customer service day in and day out! While earning the award isn’t easy, promoting your accomplishment – and putting it to work for your dealership – is! Here are our top tips for showcasing your award using the assets available to all winners on a premium listings package: Provide third-party validation w ..read more
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CNBC on how CarOffer is opening up the used car market for dealers
The CarGurus Dealer Blog
by Meg Bernazzani
2y ago
“A faster, more reliable way for dealers to access inventory that other dealers want to unload because different cars sell well in different markets.” On Monday, CarOffer, part of the CarGurus network, was featured in a segment on CNBC’s The News with Shepard Smith. The story captured the value CarOffer provides to dealers, showcasing how they’re opening up the market for used cars by trading them with other dealers and providing a glimpse into the energetic, stock market-like atmosphere helping fuel their growth. During the segment, CNBC explained how the CarOffer Buying Matrix automaticall ..read more
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