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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
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Cars.com Inc. (NYSE: CARS) announces the upcoming release of its first-quarter 2024 financial results on May 9, 2024. The company will host a conference call to discuss the results, featuring CEO Alex Vetter and CFO Sonia Jain.
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Cars.com's 2024 Affordability Report highlights a retail environment more accessible to consumers, with new-vehicle supply rebounding and affordable options available. The report showcases best-in-class vehicles under $30,000, offering safety technology and low running costs.
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Cars.com Inc. releases its March Industry Insights Report, indicating a surge in car-buying activity as dealers expand new-car inventory by 9% and consumer searches for new cars rise by 4%. New-car prices drop, used-car prices hit a 32-month low, and EV inventory increases with decreasing prices. Toyota and Cadillac are the fastest-selling new-car brands, while Subaru Solterra leads in new EV sales. The report highlights inventory improvements, price drops, and consumer interest in heritage models and electric vehicles.
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Cars.com introduces Your Garage, a new utility allowing consumers to track their vehicle's value over time. The tool provides valuable insights for car owners to make informed decisions when trading in their vehicles.
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Cars.com unveils Dealer of the Year Awards based on over 1 million consumer reviews, emphasizing responsiveness and accountability as crucial for an excellent dealership experience.
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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.
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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.
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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.
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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.
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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.
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FAQ
What is the current stock price of Cars.Com (CARS)?
The current stock price of Cars.Com (CARS) is $15.89 as of February 21, 2025.
What is the market cap of Cars.Com (CARS)?
The market cap of Cars.Com (CARS) is approximately 1.1B.
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
NYSE:CARS
CARS Rankings
CARS Stock Data
1.07B
59.14M
8.66%
92.68%
2.51%
Auto & Truck Dealerships
Services-computer Processing & Data Preparation
United States
CHICAGO