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
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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.
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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.
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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.
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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.
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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.
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Cars.com Inc. has announced the acquisition of D2C Media Inc., a leading automotive technology and digital solutions provider in Canada. The acquisition was valued at CAD $105 million in cash, with the potential for an additional CAD $35 million based on financial thresholds. This acquisition expands Cars.com's geographic footprint, supports its growth trajectory, and creates cross-selling opportunities. D2C Media serves approximately 1,000 dealer customers in Canada and generates revenue through subscription fees.
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Cars.com Inc. expects to report its Q3 financial results on November 2, 2023. A conference call will be held on the same day to discuss the results.
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Cars.com announces new enterprise brand name, Cars Commerce, and doubles down on platform strategy to simplify car buying and selling. The platform aims to connect the industry and reduce dealer turn time by up to 20%. Cars Commerce focuses on pretail, retail, and post-sale activities, offering a streamlined and interconnected portfolio with four core capabilities: Marketplace, Digital Experience, Trade & Appraisal, and Media.
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Truck prices grew 50% faster than average vehicle prices YoY. Pickup trucks offer versatility and utility, becoming great family vehicles. Used pickup truck prices surged 9% YoY. Electric pickup trucks have limited towing range and high price, with 58% of shoppers unlikely to purchase due to cost. Average price of new electric pickup was over $94,000.
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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