What’s new at CarGurus? Quarterly product updates
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.
CarGurus Vehicle Availability Index & Insights – July 2021
In the July edition of the CarGurus Vehicle Availability Index & Insights Report, Director of Industry Insights & Analytics Kevin Roberts provides a glimpse at the latest trends impacting inventory, which he’ll dive into in-depth at Navigate.
The narrative divergence between new and used continued in July as new inventory levels continued to tumble while used levels continued to rebound.
New inventory levels plunged further as the new Vehicle Availability Index reading for July came in at 26.9, a drop of 13.5% from June and down almost 60% from last year. There is hope that July could be the low point as production is forecasted to accelerate in August, which is welcome news. If new inventory continues to fall further, it’ll likely start to impact sales more dramatically.
Product update: Instagram channel now available to RPM Premier and Unlimited customers
Exciting news! We are adding Instagram to the Facebook social channel for all dealers on RPM Premier and Unlimited. This means the inventory-specific social ads, already running on Facebook for RPM Premier and Unlimited customers, will now also run on Instagram. The RPM enhancement comes as a way to drive more high-quality shoppers to your dealership website, further optimizing your advertising performance and reach.
Last chance! Navigate ticket prices jump after this weekend
August 25 Update: Given continued uncertainty around COVID-19, Navigate has been moved to an entirely virtual event. We’ll have the same jam-packed agenda, but now you can tune in from the comfort of your home or office. For more information and to get tickets, visit events.cargurus.com/navigate.
If you don’t already know, CarGurus’ third annual Navigate conference is coming back to Boston in person this fall. And as a reminder, there are only a few days left to take advantage of early bird pricing. Early bird tickets are on sale for $99 until August 2nd—a $300 savings!
NEW: Sell My Car program gives dealers first access to CarGurus shopper inventory
September 14, 2021 Update: Due to overwhelming interest and support, we’ve expanded the Sell My Car program to shoppers and dealers in Connecticut, Georgia, Michigan, Pennsylvania, and Rhode Island.
At CarGurus, we’re constantly innovating and exploring new products and services to give our dealer partners, large and small, more of what they need to succeed. That’s why we’re thrilled to announce a new feature that lets dealers acquire inventory directly from our #1 audience of car shoppers.
The program launches today to CarGurus and CarOffer dealer customers in three states: Florida, Texas, and Massachusetts. No need to request access – dealers subscribed to both CarGurus and CarOffer will be automatically enrolled in this program as “landed dealers.” Being a landed dealer means you’ll get exclusive first access to local inventory sold through the CarGurus Sell My Car page.
Navigate ’21: How to make your case to your boss
August 25 Update: Given continued uncertainty around COVID-19, Navigate has been moved to an entirely virtual event. We’ll have the same jam-packed agenda, but now you can tune in from the comfort of your home or office. For more information and to get tickets, visit events.cargurus.com/navigate.
Anyone who’s been to Navigate – in person or virtually – will tell you it’s a one-of-a-kind industry event, jampacked with actionable learnings. But we know conferences can be a big investment of time and money, and it might take some convincing if you’re going to ask your dealership to pick up the tab.
That’s why we’ve put together some tactical advice to help you make a strong case for attending Navigate in Boston this fall, October 13th & 14th. Hint: it’s all about helping your employer understand the tangible benefits of attending Navigate—and matching those benefits to your dealership’s goals. Use these conversation points to help you get your way.
Automotive News on how CarGurus is pushing beyond traditional listings with Convert
CarGurus CPO Tom Caputo recently discussed with Automotive News how the company is pushing beyond traditional leads and further into digital transactions for buying and selling cars. In particular, he shared how our new CarGurus Convert digital retailing product meets consumers’ preferences, allowing them to do a few or many steps online before connecting with a dealership. The result for dealers: deeper leads from more serious buyers for dealers and a faster and more convenient purchase process for all.
Carla Harris and Jon Taffer to empower dealers to ignite growth at Navigate ’21
August 25 Update: Given continued uncertainty around COVID-19, Navigate has been moved to an entirely virtual event. We’ll have the same jam-packed agenda, but now you can tune in from the comfort of your home or office. For more information and to get tickets, visit events.cargurus.com/navigate.
Navigate, CarGurus’ third annual automotive conference, is officially back and in person this fall. Set for October 13 & 14, 2021 at the Hynes Convention Center in Boston, this year’s event offers two days of next-level sessions, carefully crafted to bring you all the industry insights and real-world tools you need to have a competitive edge. Topics include digital retail, wholesale, management, and more, plus there will be networking opportunities you won’t get anywhere else. And the keynotes—you don’t want to miss those.
CarGurus Vehicle Availability Index & Insights – June 2021
June featured a continuation of the trends we witnessed in May, which, depending on the viewpoint, that means we’ve yet to reach the peak or the bottom for the ongoing inventory shortage. Thankfully, there is an expectation that as we enter the third quarter, we could start to see the highly anticipated inflection point that would start us on a path to normalcy; yet, that path will likely be long and filled with further surprises.
Consumers are more excited about driving assistance features than self-driving cars, according to new CarGurus research
We last surveyed consumers on their attitudes toward autonomous vehicles (AVs) in 2019. This year, we checked in to see if their excitement had grown. The short answer? No. While most have gotten more comfortable with the idea of self-driving cars, overall excitement for them has remained relatively flat. AVs are a huge leap in technology, according to shoppers, but the majority aren’t convinced the pros outweigh the cons, especially with regard to safety.
Here, we break down three key findings from our latest Self-Driving Vehicle Sentiment Survey conducted in April and what they mean for dealers.