Cars.Com - CARS STOCK NEWS

Cars.com Inc. (NYSE: CARS) reported a significant shift in consumer behavior due to the pandemic, with shoppers logging a record 30 million hours on the platform, a 9% increase from March 2020. A survey revealed that 36% of new or used car buyers were first-time buyers. The pandemic expedited car purchase timelines, with nearly 60% of buyers purchasing sooner than planned. New-vehicle prices rose 4.8% year-over-year, while used-vehicle prices increased 9.7%. Urban buyers accounted for 38% of purchases, driven by a demand for personal vehicle ownership.

Cars.com (NYSE: CARS) has launched its new nationwide brand campaign, "It's Matchical", leveraging first-party data and smart matchmaking technology to connect over 20 million monthly unique car shoppers with suitable vehicles. The campaign promotes an enhanced car-buying experience, which now emphasizes personalized curation based on data science. With 50,000 new and used cars added daily, the campaign showcases Cars.com's digital-first capabilities, including live video interactions and contactless delivery. "It's Matchical" will be featured across various media platforms, including during the 2021 NCAA Tournament.

Cars.com Inc. (NYSE: CARS) reported its Q4 and full-year 2020 financial results, highlighting a year-over-year revenue increase in Q4 of 1% to $153 million. Q4 GAAP net income surged to $7.2 million, contrasting a $4.1 million loss in Q4 2019. However, annual revenue fell by 10% to $547.5 million, largely due to COVID-19 impacts. Adjusted net income declined to $70.3 million for 2020. Operating expenses decreased, and the company maintained strong cash flow with total liquidity of $297.7 million. Cars.com aims to invest in growth and technology in 2021.

Cars.com (NYSE: CARS) announced its upcoming financial results for the fourth quarter and full year ending December 31, 2020, set to be reported on February 25, 2021. A conference call will follow at 9:00 a.m. CT to discuss these results. Cars.com is a key player in the automotive digital marketplace, offering solutions to connect car shoppers with sellers. The company provides a range of online resources to help consumers make informed decisions while assisting dealerships with advanced tools to enhance their market reach and inventory turnover.

Cars.com (NYSE: CARS) announced at the 2021 Virtual NADA Show that it sends three times more ready-to-buy car shoppers to dealership websites than its nearest competitors. With a robust organic audience comprising 76% of traffic, Cars.com shoppers are twice as likely to purchase a vehicle. The platform, featuring near real-time inventory and enhanced dealer engagement tools, empowers dealers to focus on customer experience over pricing. Cars.com reports over 25 million monthly unique visitors, facilitating accelerated sales for dealers through its innovative technology and online solutions.

Cadillac achieved a remarkable 194% traffic increase to its Cars.com pages following its Big Game commercial, marking it as a standout performer alongside GM and Jeep, which also saw significant traffic boosts. Overall, car brand commercials resulted in a 38% average pageview increase on Cars.com during the event. This year, only half as many OEM advertisers participated compared to the previous year, reflecting a shift towards targeted digital media advertising. Notably, GM's ad featuring Will Ferrell spurred a 169% surge in visits to its EV pages.

Cars.com Inc. (NYSE: CARS) reported on Feb. 8, 2021, significant success in the first year of its digital video solution, FUEL. Launched in 2020, FUEL achieved a click-through rate double that of industry averages, underscoring its effectiveness. This innovative platform leverages first-party audience data to target consumers actively shopping for vehicles. CEO Dean Evans highlighted FUEL's competitive edge in delivering marketing directly to in-market shoppers. The service is exclusive to one dealer per territory, enhancing its value in local markets as competition grows.

Dealer Inspire, a Cars.com company, has launched the Play Offense Playbook, a complimentary marketing resource for local dealerships in the U.S. and Canada. This guide aims to help dealers compete in the digital marketplace, especially as the National Automobile Dealership Association's conference approaches. Over 30% of dealers using it have successfully implemented new landing pages, and nearly 1,000 have downloaded the associated creative assets. The Playbook includes customizable tools, tactics for enhancing digital presence, and resources to improve customer experiences.