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 are very excited to announce that we’ve completed the acquisition of a 51% stake in the wholesale vehicle acquisition and selling platform CarOffer.
For those who aren’t familiar, CarOffer is an innovative inventory management platform for modern car dealers to buy, sell, and trade with automation and ease. Unlike traditional vehicle auctions, which require manual bidding and vehicle evaluation, CarOffer’s proprietary Buying Matrix technology lets buying dealers create standing buy orders and provides instant offers to selling dealers.
For our dealer customers, the combination of the two brands offers some exciting opportunities for integration in the future:
- More dealers using CarOffer increases the supply and turnover of inventory
- CarGurus Instant Market Value data will help dealers price vehicles on CarOffer
- The CarOffer Buying Matrix will enable real-time offers to dealers on their CarGurus inventory
CarOffer will operate as a separate brand out of their offices in Plano, Texas, under the continuing leadership of founder Bruce Thompson, but we’re looking forward to these and more potential points of integration between the two companies.
For now, we want to say a hearty welcome to the CarOffer team, and encourage dealers to learn more about CarOffer and how they can help streamline your trade process.