What’s new at CarGurus? Quarterly product updates

Posted by Meg Bernazzani on June 24, 2020

As dealerships begin to get back to business, we realize it’s more important than ever that we support our dealer partners, which is why the CarGurus Product teams have been hard at work building new features and product updates. Here are the key CarGurus product improvements you can expect now, and in the weeks to come.

Improvements to the CarGurus Dealer Dashboard

product-blog-price-publishing-image After launching an improved Pricing Tool in April, we have continued to develop valuable improvements to our dealer experience. Beginning July 1, dealers in Enhanced, Featured, and Featured Priority will have access to Price Publishing, which allows you to update and publish prices on vehicles directly to cargurus.com from the CarGurus Pricing Tool.

Learn more about Price Publishing.

Additionally, an improved Market Analysis tool will be available in the CarGurus Dealer Dashboard in early July. The update addresses dealer feedback and will include:

  • Ability to adjust the radius from your dealership for data in the tool
  • VDP activity and most viewed years and trims in your market
  • Current local units and average selling time in your market
  • CarGurus deal rating breakdowns by vehicle model in your market

Dealers will be able to access the original Market Analysis tool during the launch.

CarGurus VDP Layout Test

As part of ongoing efforts to improve the shopper experience, you may see new VDP layouts being tested, with an emphasis on larger photos to increase lead conversion rates.

Free CarGurus listings returning — with changes

CarGurus suspended the free Restricted listings program during the COVID-19 crisis to better accommodate shoppers and provide a strong return on investment to paying CarGurus customers. As of July 1, we will be making updates to our free Restricted product to provide more connections and a better ROI for our paying customers.

Learn more about the changes.

CarGurus RPM is now available!

Our new digital marketing suite offers dealers various solutions to drive high-quality shoppers directly to dealers’ websites. Use RPM to effectively and efficiently reach more in-market shoppers across multiple channels, including Facebook, to maximize your visibility.

Explore the different solutions. 

Penny-perfect financing offers

product-blog-financing-dealer-feesWe’ve made an adjustment to the pre-qualification process for shoppers based on dealer feedback. Starting in July, shoppers who are pre-qualifying for financing are going to see “Dealer Fees” added to the offer, and this will provide them a penny-perfect offer to work with you. This is going to make pre-qualified leads easier to work with and more valuable because the shopper will have more reasonable expectations when they reach out. For any dealers without a listed Dealer Fee, we’ll use a state average.

Call your rep today to update your custom dealer fee.

CarGurus TrimOpt Launched

product-blog-trimopt-image

CarGurus TrimOpt now automatically updates trim and options on your inventory to help your vehicles show in more filtered searches. You’ll reach more shoppers, list with confidence, and save time spent managing inventory with this free tool that tracks over 40 major vehicle makes through an AutoData solutions integration.

Learn more about CarGurus TrimOpt.

Questions? Call your rep at 1-800-CARGURUS.

Topics: CarGurus news, financing, market analysis tool, pricing tool, product updates, restricted listings, rpm