Welcome to our dedicated page for Cars.Com news (Ticker: CARS), a resource for investors and traders seeking the latest updates and insights on Cars.Com stock.
Cars.com Inc. operates a data-driven automotive technology platform centered on the Cars.com marketplace, which connects car shoppers with dealerships across the United States. Company news commonly covers operating results, marketplace traffic, dealer customer trends, average revenue per dealer, share repurchases, and capital allocation updates.
Recurring product and brand developments include AI shopping tools, VIN-specific AI-powered video advertising, dealer websites, trade and appraisal tools, proprietary in-market media solutions, vehicle reviews, consumer research, and recognition programs such as Best Value New Cars and Dealer of the Year awards. Updates also address how the company serves dealerships and OEMs through audience, data, advertising, and retail technology products.
Cars.com Inc. (NYSE: CARS) announced its participation in two virtual investor conferences in September 2021. CEO Alex Vetter will present at D.A. Davidson's 20th Annual Software and Internet Conference on September 9 at 9:30 am CT, and at the Citi Virtual Global Technology Conference on September 14 at 7:50 am CT. Live audio webcasts will be available on the Investor Relations section of their website, with replays accessible post-presentation.
On August 25, 2021, Cars.com released findings from a national survey indicating a 17% increase in Americans planning to travel for Labor Day compared to the previous year, despite concerns over the Delta variant of COVID-19. Sixty percent of respondents intend to travel, with many choosing to drive instead of flying due to rising apprehensions, leading to over 20% of travelers canceling flights. The survey also revealed that 62% of travelers are worried about the Delta variant, with significant impacts on travel plans and destinations.
Cars.com (NYSE: CARS) reports that 67% of parents plan to send their children to in-person school this fall, a significant increase from 39% in 2020. COVID-19 concerns have led 54% of parents to drive their kids to school, while only 38% will use school buses. The survey also reveals that 90% of parents are worried about the delta variant, impacting transportation choices. Key features for safe rides include vehicles with captain's seats and hands-free sliding doors. The survey conducted in July 2021 gathered 1,050 responses.
Cars.com Inc (NYSE: CARS) announced that CEO Alex Vetter will present at the virtual J.P. Morgan Auto Conference on August 11, 2021, at approximately 9:30 a.m. ET. A live audio webcast will be accessible on the Company's website, with a replay available afterward. Cars.com is a leading digital marketplace for the automotive industry, connecting car shoppers with sellers since 1998. Its brands include Dealer Inspire, FUEL, and DealerRater, providing innovative solutions to automotive retailers.
Cars.com Inc. (NYSE: CARS) reported Q2 2021 revenue of $155.5 million, a 52% increase year-over-year. Excluding prior-year invoice credits, revenue rose 11%. The company achieved a GAAP net income of $6.0 million or $0.08 per diluted share. Adjusted EBITDA was $48.5 million, representing 31% of revenue. Operating cash flow surged to $79.6 million, up 38%, while free cash flow reached $66.5 million, up 36%. The outlook for Q3 2021 anticipates revenue between $155 million to $157 million.
Cars.com Inc. (NYSE: CARS) announced it will report its financial results for Q2 2021 on August 5, 2021. A conference call to discuss these results will occur at 9:00 a.m. CT the same day, featuring CEO Alex Vetter and CFO Sonia Jain. Cars.com is a digital marketplace for the automotive industry, launched in 1998. The company provides resources to connect car shoppers with sellers, with additional brands like Dealer Inspire and DealerRater under its umbrella.
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Cars.com (NYSE: CARS) has launched a revamped online platform and mobile app, enhancing user experience for its 26 million monthly unique users. The site boasts load times up to 87% faster and real-time updates with over 50,000 cars added daily. The transformation emphasizes personalized searches and improved matchmaking features, addressing the current car inventory shortage. With innovations like one-click video chat to dealers and curated content, the upgraded platform aims to streamline the car shopping process and leverage its extensive user reviews for better insights.
CARS released its 2021 American-Made Index, ranking vehicles based on their contribution to the U.S. economy. The Tesla Model 3 secured the top spot, marking the first time an all-electric vehicle has achieved this. The index highlights a growing consumer preference for American-made vehicles, driven by heightened demand in the wake of the pandemic and a microchip shortage affecting inventory. The study found that 72% of shoppers consider a vehicle's economic impact when purchasing, up from 70% in 2020.
Cars.com reports that nearly 10% of recent car buyers traveled out of state to purchase their vehicles due to shortages in both new and used car inventories. The data reveals that 52% of those buyers traveled 25 miles or less, while 20% traveled 50 miles and 13% went over 250 miles. Furthermore, 65% of shoppers are considering purchasing from out of state. A significant 53% of buyers plan to trade in their current vehicles, indicating a demand from local dealerships for more inventory.