Skip to content

2021 in review: customer commitment, product enhancements, top resources, and more 

Posted by Meg Bernazzani on December 10, 2021

The auto industry has endured tremendous changes over the past two years as the world continues to deal with the impact of the COVID-19 pandemic. However, for many dealers, 2021 was a year of recovery, profitability, and hope. And at CarGurus, we also accomplished a lot in 2021, and we’re excited about the future of our industry and our continued commitment to supporting you and your business.

We took a moment to reflect on the year—here are some of the highlights that defined it.

CarOffer acquisition unlocked new possibilities for our dealers

“[CarOffer] is not the typical dealer-to-dealer platform. This is your ability to specify which vehicle you want down to the make, model, trim, odometer, and how you want to acquire it – we base it on CarGurus’ Instant Market Value. It’s a brilliant platform.” – Danny Archibald, Owner, Archibald’s Inc. 

As part of our ongoing commitment to providing dealers with more of the tools and services they need to get ahead in today’s digital-centric auto marketplace, we announced the acquisition of a 51% stake in the wholesale vehicle acquisition and selling platform CarOffer. The innovative inventory management platform allows modern car dealers to buy, sell, and trade with automation and ease. By combining forces we’ve been able to help dealers increase the supply and turnover of inventory despite the current supply shortages. 

Read what The Boston Globe had to say about our evolution from our core listings product into digital retail and wholesale here: 

As online car shopping and prices surge, CarGurus rides the wave 

New features and product enhancements launched with you in mind

“[Area Boost] has helped us with turn time tremendously because we have more customers looking at our vehicles and purchasing our vehicles. It also allows us to have a larger share of voice.” – AJ Maknati, General Manager, Tricars 

In 2021, we introduced new solutions to help you manage the entire pre-owned vehicle lifecycle, from inventory to marketing to retail, with one platform. Here are some highlights: 

We made several enhancements to our Area Boost product, which helps you sell more cars outside your local area, including: 

  • New SRP callouts that increase shopper discoverability of these listings 
  • SRP promotional tiles to improve the customer experience with increased transparency 
  • Updated CRM lead source to help you easily identify Area Boost leads 
  • New, smaller Area Boost radius 

Early access to CarGurus Convert opened to eligible dealers, helping them jump-start the deal-making process with low-funnel shoppers. 

Instant Max Cash Offer (IMCO) launched in more than 20 states, giving CarGurus and CarOffer dealer customers the ability to easily get more vehicles in their pipeline by acquiring inventory directly from our #1 audience of car shoppers. 

Have a feature request? We’re always listening to our dealer partners. Get in touch with your rep to let us know. 

Our third annual Navigate conference delivered powerful sessions

“This is hands down one of the best digital conferences I’ve watched.” – 2021 Dealer Attendee 

This year, despite being virtual again, we hosted hundreds of dealers for actionable workshops and inspiring keynotes designed to ignite personal and professional growth. 

Didn’t make it live? Don’t worry! You can still watch the recorded sessions. And we’re excited to do it all again in person next year, September 21-22, 2022!

A national TV campaign highlighted our new digital retail capabilities and expanded your consumer reach

To help drive more leads and sales to your dealership, we launched a new TV ad campaign called “Do More From Home.” The four spots highlight how our efforts to empower consumers to confidently navigate the car shopping or selling process from home, reinforcing the benefits of shopping and selling on our site to consumers.

Valuable resources were created to help you drive success

In addition to all these improvements, we also dug into our data, surveyed consumers across the country, had conversations with our dealer customers, and created valuable resources to help you navigate the evolving landscape. These were some of your favorites: 

Looking ahead to 2022 

Building on the success of 2021 and our commitment to our dealer partners, we have big plans for 2022. Here’s what you can expect in the new year: 

  • We’ll continue to innovate, developing products that help you reach the right buyers, accelerate your turn, and maximize your pre-owned profits. 
  • We’ll deliver a new CarGurus Dealer mobile app that gives you easy and convenient access to the powerful functions of your CarGurus account. 
  • …and more! 

Ready for 2022? Reach out to your rep today and make sure your dealership is set up for success. 

Topics: CarGurus news, year in review