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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
Cars.com Inc. (NYSE: CARS) announced it will report its financial results for the first quarter ending
Cars.com has seen an 84% increase in searches for electric vehicles (EVs) since 2022, highlighting a growing consumer interest in this sector. On March 29, 2023, the company released its 2023 EV Buying Guide alongside its Top Picks for EVs. The guide evaluates over 40 EV models based on price, range, comfort, and features. The top choices include the 2023 Hyundai Ioniq 5 for families, the 2023 Chevrolet Bolt EV for value, the 2023 Genesis Electrified G80 for luxury, and the 2023 Kia Niro EV for commuters. Cars.com aims to assist consumers in transitioning from EV curious to EV owners with this comprehensive resource.
Cars.com reports a surge in electric vehicle (EV) interest, with searches for new and used EVs increasing by 84% year-over-year. Notably, regions like North Dakota and Mississippi saw searches double, indicating broader interest beyond urban areas. The company's 2023 EV Buying Guide offers insights on over 40 EV models, focusing on price, range, and family suitability. Despite 64% of shoppers citing fuel savings as a motivator, 61% view EV costs as a barrier. The median price for EVs is nearly $60,000, while the Chevy Bolt EV starts at around $28,000.
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