Cars.Com Stock Price, News & Analysis

Cars.com Inc. (NYSE: CARS) has announced a share repurchase program authorizing the buyback of up to $200 million of its common stock over three years. This program aims to enhance shareholder value and reflects the company's strong cash flow and confidence in future growth. Share repurchases will be conducted through open market or private transactions depending on market conditions. The company continues to pursue organic growth while maintaining a strategy for potential acquisitions.

On February 21, 2022, Cars.com identified the Tesla Model Y as the Best Electric Vehicle of 2022 in its Best Of awards program. The recognition highlights Tesla's leadership in electric vehicle technology, emphasizing efficiency, range, and consumer appeal. Despite the growing interest in EVs, inventory has decreased by 30% over the past year, while about 94% of consumers prefer to purchase EVs through local dealerships. The Biden administration plans a $5 billion investment to expand EV charging stations, addressing consumer concerns about infrastructure and availability.

CARS (NYSE: CARS) announced its upcoming financial results for Q4 and the full year 2021, scheduled for February 24, 2022. The webcast will begin at 8:00 a.m. CT and will be hosted by CEO Alex Vetter and CFO Sonia Jain. CARS, a prominent automotive marketplace, connects car shoppers with sellers using advanced digital solutions and data-driven insights. This announcement sets the stage for potential market movements based on their performance metrics.

Cars.com reported a significant traffic boost following the automotive commercials aired during the recent Super Bowl. The event featured a 217% average increase in brand page views, with electric vehicles (EVs) dominating the ad space. EV page views surged by 80%, and Polestar 2 achieved a remarkable 580x traffic lift. Overall, automaker brand page views rose by 2361%. The analysis indicates a growing consumer interest in EVs, although sales growth remains slower. Major advertisers included Kia, BMW, Toyota, and GM, all contributing to heightened engagement on Cars.com.

Cars.com (CARS) has announced the acquisition of Accu-Trade, a company specializing in VIN-specific vehicle valuation and appraisal technology, for $65 million in cash, with a potential earn-out of $63 million. This transaction will enhance CARS' platform by providing dealers with tools to improve inventory management and maximize profits. The acquisition aims to drive additional revenue and improve dealer-to-dealer and consumer-to-dealer transactions. The deal is expected to close within 30 days and is anticipated to be EBITDA accretive in its first year.

DealerRater, a company of Cars.com (NYSE: CARS), recently recognized 979 dealerships in its annual Dealer of the Year Awards (DOTY). The awards are based on over 1.1 million reviews from 18,600 dealerships in 2021. Key factors contributing to the awards include exceptional customer service, digital engagement, and response rates to reviews. Notably, winning dealers averaged a 97% positive review rate, compared to those without similar services. The awards highlight the importance of adapting to a changing car-shopping landscape amid inventory shortages and increased prices.

Cars.com highlights major trends shaping the automotive market in 2022, including a significant shift towards vehicle preorders, rising consumer interest in electric vehicles (EVs), and an increase in digital car buying. Notably, 41% of shoppers plan to preorder their next vehicle, with 98% of those who have done so expressing positive experiences. Despite double-digit price increases, more than 60% of consumers remain undeterred in their purchase timelines. The push for EVs is driven by government support and evolving consumer preferences, indicating strong pent-up demand in the auto market.

According to a national survey by Cars.com, 61% of winter travelers are opting to drive for holiday celebrations due to lingering COVID-19 concerns. The survey indicates that 42% prefer cars over public transportation, with 39% traveling over 100 miles. Additionally, 56% will travel at least 50 miles, representing a 30% increase year-over-year. The rise of remote work influences travel plans, with 70% of remote workers impacted. Many plan to stay longer, with 32% visiting for at least a week. For more insights, visit Cars.com/news.

Cars.com (NYSE: CARS) announces its upcoming event, REFUEL, scheduled for Dec. 15, 2021, from 1 p.m. to 5 p.m. CT. This free event, available virtually and in-person, aims to inspire attendees through workshops featuring renowned speakers from various fields, including a retired U.S. Navy SEAL and a bestselling author. The company encourages donations to selected charities, matching contributions up to $25,000 each. REFUEL focuses on personal and professional growth, providing attendees with strategies to enhance their mental and physical well-being as they enter 2022.