CarGurus helps dealers expand their reach with Area Boost

Posted by Meg Bernazzani on October 20, 2020

Area Boost (previously called ‘Delivery’) is one of our latest offerings that helps dealers expand their reach by showing their deliverable listings to shoppers outside their local market.

By making it easy for low-funnel shoppers to find the exact cars they want, dealers with Area Boost are able to compete in low-supply markets that they weren’t previously reaching. Especially in today’s unique selling environment when most car shoppers would prefer to use contactless services during the purchase process, this product provides a simple way for dealers to increase their exposure and convert a larger audience of shoppers. Participating Area Boost dealers see on average 40% more vehicle detail page views from shoppers in their target market.

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Topics: area boost, CarGurus products, delivery

Inventory acquisition Q&A: Stocking your lot will take some creativity

Posted by Meg Bernazzani on October 8, 2020

Inventory acquisition has long been a pain point for dealers. It requires a combination of data, precedent, and dealer’s intuition to keep a lot stocked with in-demand vehicles that will move. And that’s before you consider other factors that fluctuate like changing consumer behavior, economic trends, and unanticipated events that affect supply and demand.

Dealers have been weathering changes and adapting their strategies for decades. However, the Covid-19 pandemic has had an unprecedented impact on the industry—particularly, on supply. It’s led to auctions moving online, manufacturing plants being shut down by OEMs, lease extensions, and an overall shift in consumers’ preferences. Together, these variables have added up to a shortage of quality new and used vehicles unlike ever before.

To get a pulse on the topic of supply and hear some ways dealers can adapt, we checked in with CarGurus’ Dealer Relations Team Lead, Benjamin Sacks.

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Topics: covid-19, inventory, inventory acquisition

What to expect at Navigate: full agenda revealed!

Posted by Meg Bernazzani on October 6, 2020

We hope you have your calendars marked for Navigate, CarGurus’ second annual automotive conference, on October 26th & 27th. This year, the event has been reimagined: it will be held virtually and for free!

We’ve got an outstanding agenda planned—there’s sure to be something for everyone, from dealership owners and GMs to sales staff and marketing managers. With so much to experience at Navigate, we’ve highlighted some of the sessions you won’t want to miss below.

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Topics: CarGurus news, Navigate

Announcing the winners of CarGurus’ #DrivingDifference contest

Posted by Meg Bernazzani on September 30, 2020

driving-difference-winners

Dealers have always been known for their charitable giving, partnering with food pantries, sponsoring local baseball teams, and most recently supporting hospital staff and first responders. Last month, we launched our Driving Difference contest as a way to celebrate and reward those helping out in their communities. We asked dealers to share on social media what they’ve been doing to spread positivity and use #DrivingDifference. We received entries from dealers across the country and, after weeks of anticipation, we are thrilled to announce our winners!

The 15 winners of the $2,500 customized back-to-business kit were selected by a panel of judges based on factors like the impact of their work and creativity. Check out the list of winners below:

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Topics: CarGurus news, Driving Difference

Peter Sheahan to share innovative strategies for growth at Navigate ‘20

Posted by Meg Bernazzani on September 28, 2020

This October, hundreds of dealers, partners, and industry experts from around the globe will join us virtually for CarGurus’ second annual Navigate conference. The two-day, online event will be packed with a variety of valuable presentations and workshops, including a captivating keynote session from Peter Sheahan, Founder and CEO of Karrikins Group.

Peter and his team at Karrikins Group have worked with some of the world’s most recognizable brands, including Apple, Goldman Sachs, Microsoft, Hyundai, IBM, Pfizer, Wells Fargo, and Cardinal Health, helping them accelerate growth and transformation within their business. He’s established himself across the world for his innovative business thinking and thought leadership.

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Topics: CarGurus news, Navigate

What’s new at CarGurus? Quarterly product updates

Posted by Beth Burke on September 18, 2020

The CarGurus Product teams were hard at work over the summer, continuing to build new features and product enhancements that matter to our dealer partners. Here are the key CarGurus product improvements you can expect now, and in the weeks to come.

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Topics: area boost, CarGurus news, dealer dashboard, financing, IMV scan, marketing analysis tool, product updates, rpm

Top 2020 US used car searches on CarGurus, by state

Posted by Meg Bernazzani on September 17, 2020

top-used-cars

The majority of consumers in the US have seen their life change in some way, shape, or form because of COVID-19. One example of this is people’s driving habits. Daily commutes have changed drastically for many and frequent trips to the store, gym, school, childcare facility, etc. are no longer the norm. Though many, if not most, will eventually return to their previous driving habits, the fact that people are staying home more and driving less has the potential to impact buying activity.

With this in mind, we wondered how such a significant shift in consumer behavior might influence shoppers’ search interest in vehicles this year. To answer this question, we analyzed used vehicle searches on CarGurus for the first half of 2020 and compared it to the used vehicle leads we saw for the same criteria in 2019.

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Topics: car searches, CarGurus data, top cars

Navigate is back—and it’s going virtual!

Posted by Meg Bernazzani on September 14, 2020

Last year, CarGurus introduced the world to a new kind of automotive conference: Navigate. This year, we’re bringing it back—but it’s going virtual! Your safety is our priority, so we’re sharing all the information you need to adapt to today’s rapidly shifting landscape right to you online this year. Navigate will take place over the course of two days: October 26 & 27, 2020. You can still expect an all-star lineup of industry gurus, tech experts, and in-depth workshops you won’t get anywhere else.

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Topics: CarGurus news, Navigate

WATCH: Looking beyond traditional economic indicators to understand consumer behavior

Posted by George Augustaitis on August 31, 2020

For a deeper dive into the current state of the economy, it’s important to look beyond traditional economic and automotive data and look more generally at consumer behavior. In around eight minutes, I’ll walk you through the importance of a variety of indicators I’m keeping a pulse on, including:

  • Gross movie sales
  • OpenTable seated diners data
  • Hotel occupancy rates
  • TSA checkpoint data
  • Gasoline consumption
  • Public transportation turnstile entries
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Topics: consumer behavior, covid-19, economic indicators, recovery

Highly requested features added to the Market Analysis tool

Posted by Beth Burke on August 24, 2020

The CarGurus Market Analysis tool has been relaunched with exclusive new data and dealer-requested improvements. Market Analysis insights are driven by shopper searches and monthly trends to help you make informed inventory acquisition and marketing decisions.

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Topics: CarGurus news, marketing analysis tool, product updates