Welcome to our dedicated page for Cargurus news (Ticker: CARG), a resource for investors and traders seeking the latest updates and insights on Cargurus stock.
CarGurus Inc (Nasdaq: CARG) operates a leading online automotive marketplace connecting buyers with dealers through data-driven insights. This page aggregates official company announcements, financial updates, and market developments.
Access real-time updates including quarterly earnings reports, strategic partnerships, product innovations, and leadership changes. Investors will find filings, operational milestones, and industry analyses while dealers and consumers can track platform enhancements.
All press releases are sourced directly from CarGurus' corporate communications. Content spans earnings disclosures, technology initiatives, expansion updates, and corporate responsibility efforts. Bookmark this page for verified information supporting informed decisions about CARG's market position.
CarGurus (CARG), the leading digital auto platform for vehicle transactions, has scheduled its Q1 2025 earnings release for May 8, 2025, after market close. The company will host a conference call and webcast for investors and analysts at 5:00 p.m. Eastern Time on the same day.
Interested parties can access the conference call via phone at (877) 451-6152 (U.S./Canada) or (201) 389-0879 (international). The webcast will be available on the Investors section of CarGurus' website. An audio replay will be accessible from 8:00 p.m. ET on May 8 until May 22, 2025, using passcode 13752230.
CarGurus (CARG) has released its Q1 2025 Quarterly Review, highlighting significant shifts in automotive market dynamics. The report reveals that new car affordability remains a major challenge, with vehicles under $30,000 now representing only 13% of inventory, down from 37% in Q1 2020.
Following recent tariff announcements on March 26th, new car retail sales surged by nearly 30% month-over-month. The average list price is expected to increase by over $3,300 to approximately $52,800 due to tariffs, potentially reducing sub-$30,000 listings by 42% while increasing $50,000+ listings by 15%.
In the used car market, buyers face trade-offs between price and vehicle age. A $15,000-$20,000 budget now buys a seven-year-old car with 73,000 miles, compared to a four-year-old model with 47,000 miles in Q1 2020. However, used EVs present an affordability bright spot, with models like Nissan LEAF and Chevrolet Bolt averaging under $17,000 with mileage under 32,000.
CarGurus (NASDAQ: CARG) reported strong Q4 2024 financial results, with Marketplace revenue growing 15% year-over-year and International revenue increasing 26% YoY. The company achieved Q4 2024 GAAP Net Income of $45.9 million and Non-GAAP Consolidated Adjusted EBITDA of $76.4 million, representing a 25% YoY increase.
The company's performance was driven by dealers migrating to premium tiers, strong OEM advertising demand, and increased adoption of value-added products and services. CarGurus recorded a $144.4 million impairment-related charge for the full year 2024, with $9.9 million in cost of revenue and $134.5 million in operating expenses.
CarGurus (CARG), the leading digital auto platform for vehicle transactions, has scheduled its Q4 and full-year 2024 financial results announcement. The company will release its earnings report after market close on February 20, 2025, followed by a conference call and webcast at 5:00 p.m. Eastern Time.
Investors and analysts can access the conference call using the following dial-in numbers: (877) 451-6152 (U.S./Canada) or (201) 389-0879 (International). An audio replay will be available from 8:00 p.m. ET on February 20 until March 6, 2025, accessible via (844) 512-2921 (U.S./Canada) or (412) 317-6671 (International) with passcode 13750508. The live and archived webcasts will be available on the company's investor relations website.
CarGurus (Nasdaq: CARG), the #1 visited car-shopping site, has launched its new national brand campaign titled 'Big Deal'. The campaign acknowledges the significance of car buying and selling decisions in people's lives while highlighting CarGurus' digital tools that help consumers find optimal deals.
The platform offers comprehensive features including complete vehicle history, unbiased deal ratings, price drop alerts, and advance financing options on the largest selection of new and used vehicles in the U.S. For sellers, CarGurus provides car pricing tools and the ability to receive multiple instant offers, either completely online or through local dealers in select markets.
The campaign will be distributed across TV networks and connected TV providers, complemented by digital and social media executions, including influencer programs throughout the year. The initiative was developed in partnership with creative agency Bindery, emphasizing the emotional significance of vehicle transactions while showcasing CarGurus' role in simplifying the process.
CarGurus (CARG), the leading digital auto platform for vehicle transactions, has announced its participation in the 27th Annual Needham Growth Conference. Chief Financial Officer Elisa Palazzo will engage in a fireside chat on Wednesday, January 15, 2025, at 11:45 AM ET.
The presentation will be accessible via webcast through CarGurus' Investor Relations website at investors.cargurus.com. Interested parties can view the live presentation at the scheduled time, and an archived version will remain available for 30 days following the event.
CarGurus (CARG) released its seventh annual U.S. Consumer Insights Report, revealing improved car shopper sentiment amid better pricing and selection. New car inventory increased 31% year-over-year, while average used car prices decreased by 3%. The study shows 79% of buyers were satisfied with their car buying experience, with 35% being extremely satisfied (up from 28% in 2023).
Key findings include a decline in need-based purchases (62% vs 67% in 2023), increased preference for online research with 90% of buyers researching vehicles online (up from 81%), and 80% wanting to do more from home. Despite high interest rates, only 11% of buyers were deterred from financing (down from 16%). The study surveyed 3,150 recent car buyers and sellers, providing insights into consumer behavior and preferences in the automotive market.
CarGurus (CARG) has released its 2024 Recap & 2025 Outlook, highlighting that affordability was the key market driver in 2024. New vehicle inventory increased by 31% with average prices at $49,000, while used car prices declined 3% to $27,900. Hybrid vehicles gained significant traction as prices dropped 10% to $46,600, compared to $62,000 for EVs.
Notable trends include a shortage of 2020-2021 model listings, strong demand for pickup trucks, and a 17% surge in certified pre-owned vehicle demand. Looking ahead to 2025, key factors include potential tariff impacts, uncertainty around EV tax credits, and possible increased demand for premium vehicles if interest rates decrease.
CarGurus (Nasdaq: CARG), the leading digital auto platform for vehicle transactions, announced their upcoming participation in RBC's 2024 Global Technology, Internet, Media and Telecommunications Conference. Chief Financial Officer Elisa Palazzo will engage in a fireside chat on Tuesday, November 19, 2024, at 4:00 PM ET. The presentation will be accessible via webcast on CarGurus' Investor Relations website and will remain available for 30 days after the event.
CarGurus (CARG) reported strong Q3 2024 results with Marketplace revenue growing 15% YoY to $204.0 million. The company achieved GAAP Net Income of $22.5 million, up 19% YoY, and Non-GAAP Adjusted EBITDA of $64.9 million, increasing 33% YoY. Total revenue reached $231.4 million, up 5% YoY, with gross profit margin improving to 79%. The company's board authorized a $200.0 million share repurchase program for fiscal year 2025. CarGurus also reported growth in both U.S. and International paying dealers, with Consolidated QARSD up 14% to $6,038.
