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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CarGurus Inc | NASDAQ:CARG | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.16 | -4.65% | 23.80 | 23.33 | 24.01 | 24.835 | 23.78 | 24.73 | 1,124,410 | 21:00:25 |
The survey of recent car purchasers and/or sellers2 examines factors influencing why and where people buy and sell, as well as their preferences to navigate some—or all—portions of a transaction online. For a complete picture of the buy/sell journey, the survey also considered sentiment after the transaction.
Leading findings include:
“The automotive market has seen incredible change within the last few years, with pricing and inventory levels in flux, EVs becoming more mainstream, and more paths to purchase–especially online–available for shoppers,” said Alison Ciummei, Director of Product Marketing at CarGurus. “As we examine how these factors have impacted buying and selling habits, there is a consensus: consumers are taking control of the process in a way that makes the most sense for their individual goals for pricing, convenience, and confidence in the transaction. Whether that involves exploring financing options, considering a trade-in, or comparing vehicles against specific needs, shoppers are looking to both digital retail tools and dealership support to tailor the most seamless experience possible.”
The full study from CarGurus is available for download here.
2Methodology
Data is primarily sourced from a June/July 2023 study conducted by CarGurus and GfK, a leading market research firm. The study included a survey of 3,185 past-four-month auto purchasers/sellers of new or used automobiles: n=3,012 opt-in sample and n=173 CarGurus CRM sample. Respondents could qualify as both buyers and sellers, are 18+ years old, and weighted to be representative of the U.S. auto market in terms of demographics (age, gender, income, etc.) and market factors (new/ used, price point, etc.).
About CarGurus
CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. 1
CarGurus also operates online marketplaces under the CarGurus brand in Canada and the U.K. In the U.S. and the U.K., CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands.
To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com.
CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners.
1 Source: Similarweb Traffic Report, Q4 2023, U.S.
Media Contact:Maggie MeluzioDirector, Public Relations & External Communicationspr@cargurus.com
Investor Contact:Kirndeep SinghVice President, Investor Relationsinvestors@cargurus.com
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