Cars.Com - CARS STOCK NEWS

Cars.com has announced its Best Of Awards for 2025, with the Hyundai Santa Fe claiming the prestigious Best Car of the Year title. Starting at under $36,000, the redesigned Santa Fe impressed with its standard three-row seating, spacious cargo area, and innovative features including an ultraviolet-light sanitizing compartment.

Other category winners include: Hyundai Palisade (Best Family Car) for its safety features and sub-$40,000 price point; Kia EV9 (Best Electric Vehicle) for its balance of range, comfort, and usability; Toyota Land Cruiser (Best SUV) for street and off-road capability; Ram 1500 (Best Pickup Truck) featuring a new twin-turbo inline-six engine; and Genesis Electrified GV70 (Best Luxury Car) for its luxurious cabin and 429 horsepower performance.

The awards were determined by a seven-member editorial team who evaluated over 40 all-new and redesigned vehicles throughout the year.

Cars.com (NYSE: CARS) has acquired DealerClub, a reputation-based automotive digital wholesale auction platform, for approximately $25 million in cash with potential additional performance-based payments up to $88 million. The transaction, closed on January 23, 2025, advances Cars.com's Trade & Appraisal strategy and enables entry into the wholesale used car market valued at over $10B.

DealerClub, launched in 2024 by ACV Auctions founder Joe Neiman, serves over 650 dealer customers through a reputation-based system that promotes trust and minimizes disputes. The platform generates revenue primarily through transaction fees and will be integrated into the Cars Commerce platform to add dealer-to-dealer wholesale capabilities.

The acquisition is expected to have minimal revenue impact in 2025 and is not anticipated to be accretive to Adjusted EBITDA during the initial investment phase to scale DealerClub.

Cars Commerce (NYSE: CARS) has revealed new data highlighting the effectiveness of its connected platform. Dealers using multiple core capabilities of the platform receive up to 2x more leads and sell inventory 10% faster than those using single capabilities.

The platform's four core capabilities include: Marketplace, serving 25 million monthly shoppers; Digital Experience through Dealer Inspire, offering 40% more key events; Trade & Appraisal via AccuTrade, which completed 2.5 million appraisals in 2024 with 45% YoY growth in used-car acquisitions; and the Cars Commerce Media Network, which shows 5x higher conversion rates than Google audiences with 32% lower cost-per-click.

The company addresses dealers' top 2025 concerns: acquiring used vehicles profitably, targeting quality in-market shoppers, and differentiation from competitors.

Cars.com has released its 2025 Automotive Trends report, highlighting both challenges and opportunities in the automotive market. The average new-vehicle price has stabilized at $49,000, down from its peak of $50,300 in June 2023. While affordability remains a key concern, there's positive news as inventory of new vehicles under $30,000 increased by 42% year-over-year.

The used car market faces supply constraints due to reduced sales and leases in recent years. The definition of 'American-made' is evolving, influenced by the Inflation Reduction Act and potential new tariffs. In the EV sector, inventories grew 35% year-over-year, though new EVs remain $13,000 above average new car prices. Used EV prices have declined significantly, making them more accessible, while hybrid vehicles gain popularity as a compromise between traditional and electric vehicles.

Cars.com (NYSE: CARS) reported Q3 2024 results with revenue of $179.7 million, up 3.1% year-over-year. Net income reached $18.7 million ($0.28 per diluted share), compared to $4.5 million in Q3 2023. The company achieved notable growth in OEM and National revenue (+17% YoY) and maintained strong Adjusted EBITDA margin of 28.5%. Year-to-date net cash from operations increased 34% to $123 million. The company repurchased 1.2 million shares, representing 45% of quarterly free cash flow. Notable metrics include 19,255 dealer customers and monthly ARPD of $2,478.

Cars Commerce Inc (NYSE: CARS) announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024. The company will host a conference call and live webcast at 8:00 a.m. CT/9:00 a.m. ET on the same day. CEO Alex Vetter and CFO Sonia Jain will lead the discussion. Investors can access the webcast at investor.cars.com, with a replay available afterward in the Events section of the Investor Relations website.

Cars Commerce's September Industry Insights Report reveals significant shifts in the automotive market. New-car prices declined 1.5% year-over-year due to inventory surpluses, particularly for Stellantis brands. The average new car price remained steady at $49,000, while the Cars.com New Car Price Index fell almost 5 percentage points YoY.

Stellantis brands faced price declines, with Jeep down 5%, Ram 7%, and Dodge 3%. In contrast, Toyota and Honda saw price increases of 3% and 8% YoY, respectively. The used-car market stabilized, with average prices down 5% YoY to $28,882.

New-car searches dipped 5% month-over-month following typical post-Labor Day patterns. Inventory levels rose nearly 30% YoY, with Ford leading at 33% growth. The EV market showed divergence, with used EV searches growing faster than new, while new EV inventory outpaced demand growth by nearly 50% YoY.

Cars Commerce's August Industry Insights Report reveals a stabilizing automotive market. New-car inventory shows significant growth, with Ford (50% YoY), Chevrolet (47% YoY), and Honda (74% YoY) leading the way. The used-car market is leveling out, with prices down 5% YoY and relatively flat since April.

Key findings include:

• New-vehicle prices are leveling out
• Used-car inventory is down 13% compared to five years ago
• Vehicles under $20,000 increased 19% YoY
• Used EVs face pricing volatility, with Tesla and Rivian experiencing significant trade-in value declines
• The Federal Reserve's recent interest rate cut may encourage more consumers to purchase vehicles

Cars Commerce's July Industry Insights Report reveals significant shifts in the automotive market. The new-car market has seen a sharp decline in vehicles priced under $30,000, with only 333,000 available compared to 1.1 million in July 2019. The average new-car price remains steady at $49,000, but this is $6,000 higher than expected based on typical growth rates.

The used-car market is facing challenges with a scarcity of low-mileage, lightly used vehicles. Used-car prices have decreased 6% year-over-year, while inventory has increased slightly by 1%. Vehicles under $30,000 have seen a 3% price drop and a 9% inventory increase. However, the availability of vehicles priced between $30,000 and $49,000 has decreased by 15%, reflecting a shortage of 1-to-3-year-old vehicles.

Used vehicles under $20,000 now have an average of 93,000 miles, up 33% in five years. The shortage of low-mileage inventory is particularly noticeable in the higher-end used-vehicle market, where the average price is $77,000, exceeding the average cost of a new luxury vehicle.