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. (NYSE: CARS), also known as Cars Commerce Inc., is a leading automotive digital marketing company based in Chicago. The company empowers automotive by simplifying the car buying and selling process through innovative technology and data-driven insights. As the flagship automotive marketplace, Cars.com connects nearly 30 million in-market consumers with local and national car dealerships every month.
The company offers a comprehensive suite of products and services, including the dealer reputation site Cars.com, digital marketing solutions from Dealer Inspire, trade-in and appraisal technology from AccuTrade, and efficient AI-driven tools. These offerings help dealers capture higher-quality shoppers, turn inventory faster for higher profit, and differentiate themselves in a competitive market.
Recent achievements include FordDirect selecting AccuTrade as the preferred vehicle acquisition solution for its newly launched e-commerce platform for over 3000 Ford dealers and Lincoln retailers. In 2023, AccuTrade generated more than 275,000 instant offers and completed over 1 million appraisals, significantly enhancing inventory acquisition and profitability for dealerships.
Furthermore, Cars.com has demonstrated its prowess in digital marketing with initiatives like the
Rhea-AI Summary
Cars.com Inc. (CARS) exceeded fourth-quarter guidance with 7% year-over-year revenue growth, achieving $179.6 million in revenue. The company reported net income of $8.3 million and generated $137 million in annual cash flows. Operational highlights include partnerships with FordDirect and the acquisition of D2C Media.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.28%
Tags
-
Rhea-AI Summary
Cars.com Inc. (CARS) to report Q4 and full-year 2023 financial results on February 22, 2024, with a live webcast hosted by CEO Alex Vetter and CFO Sonia Jain.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.82%
Tags
-
Rhea-AI Summary
Automotive giants Volkswagen, Kia, Toyota, and BMW experienced a substantial surge in consumer traffic on Cars.com following their prime-time commercials during the Big Game. Volkswagen led the pack with a 394% spike, followed by Kia, Toyota, and BMW with 265%, 223%, and 158% increases respectively. The event proved to be a lucrative opportunity for automakers to engage with a captivated audience, translating into significant traffic boosts on Cars.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.63%
Tags
Rhea-AI Summary
Cars.com announced the winners of its annual Best Of Awards, recognizing the top vehicles in six categories and the Best Car of the Year. This year, Chevrolet's 2024 Trax earned the coveted Best Car of 2024 honor. Priced from $21,495, the Trax comes with user-friendly technology features, increased spaciousness, and sleek styling, all while bringing a lower starting price than the 2023 model.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.02%
Tags
-
Rhea-AI Summary
Cars.com Inc. shared the top three dealer pain points in 2024 and how the company plans to help its customers solve these challenges. The pain points are capturing higher-quality shoppers, acquiring more used inventory, and differentiating a dealership from its competitors. The company will debut new advertising solutions, offer instant cash offers for in-market consumers, and provide a data-driven report for reputation management. The CEO emphasized the need to adapt to the digital-first generation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.13%
Tags
-
Rhea-AI Summary
Cars.com Inc. (NYSE: CARS) announces that FordDirect has chosen AccuTrade as its preferred vehicle acquisition and trade solution for The Shop, a new e-commerce platform for 3000+ Ford dealers and Lincoln retailers. AccuTrade's technology allows for digital instant offers and transparent acquisition solutions, generating over 275,000 Instant Offers in 2023 and unlocking new growth for retailers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.4%
Tags
News
Rhea-AI Summary
Cars Commerce Inc. (CARS) releases 2024 Automotive Trends, highlighting economic uncertainty, tight inventory levels, and Gen Z's impact on automotive retail. American shoppers support American workers, with almost 50% willing to spend more on locally made vehicles. Consumers eye EVs, but few are committing. Cars Commerce predicts five trends influencing the auto industry in 2024 and beyond.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.94%
Tags
-
Rhea-AI Summary
Cars.com Inc. (NYSE: CARS) released the Experience Report, highlighting the crucial role of dealership engagement in building auto brand reputation. The report showcases the major automotive brands with the best consumer reputation based on data from Cars.com's exclusive marketplace.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.53%
Tags
-
Rhea-AI Summary
Cars.com Inc. (CARS) to host investor meetings at three upcoming conferences in November, including RBC Capital Markets Global Technology, D.A. Davidson Technology Summit, and Needham 3rd Annual Consumer Tech/ECommerce Virtual Conference. CEO Alex Vetter and CFO Sonia Jain will be participating, with webcasts available for the RBC event. Contact respective representatives to schedule one-on-one meetings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.59%
Tags
Rhea-AI Summary
Cars.com Inc., now known as Cars Commerce, reported a 6% increase in total revenue and a 9% growth in average monthly revenue per dealer (ARPD) in Q3 2023. The company also acquired D2C Media Inc., expanding its presence in Canada. Additionally, Cars Commerce united its B2B brands under one platform and increased its website customers and upsells.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.69%
Tags
FAQ
What is the current stock price of Cars.com (CARS)?
The current stock price of Cars.com (CARS) is $18.72 as of November 15, 2024.
What is the market cap of Cars.com (CARS)?
The market cap of Cars.com (CARS) is approximately 1.2B.
What is Cars.com Inc.?
Cars.com Inc., also known as Cars Commerce Inc., is a leading automotive digital marketing company that simplifies buying and selling cars through innovative technology and data-driven insights.
What services does Cars.com offer?
Cars.com offers a suite of services including a dealer reputation site, digital marketing solutions from Dealer Inspire, trade-in and appraisal technology from AccuTrade, and AI-driven tools for efficient retail operations.
Who selected AccuTrade as a preferred solution?
FordDirect selected AccuTrade as the preferred vehicle acquisition and trade appraisal solution for its e-commerce platform for over 3000 Ford dealers and Lincoln retailers.
How many instant offers did AccuTrade generate in 2023?
In 2023, AccuTrade generated more than 275,000 instant offers and completed over 1 million appraisals, enhancing inventory acquisition and profitability for dealerships.
What recent achievements has Cars.com made in digital marketing?
Cars.com introduced VIN Performance Media at the 2024 NADA Show, demonstrating its ability to connect dealers with in-market shoppers and achieving a record total traffic in 2023.
What was Cars.com's revenue for Q1 2024?
Cars.com reported a revenue of $180.2 million for Q1 2024, marking an 8% increase compared to the prior year.
What is Cars.com's strategy for future growth?
Cars.com aims to leverage its robust traffic, innovative solutions, and strategic partnerships to drive further growth and value for consumers, dealers, and shareholders.
Where can I find more information about Cars.com?
More information about Cars.com can be found on their website at www.carscommerce.inc.
Cars.com Inc.
NYSE:CARS
CARS Rankings
CARS Stock Data
1.22B
64.74M
8.75%
92.02%
2.77%
Auto & Truck Dealerships
Services-computer Processing & Data Preparation
United States of America
CHICAGO