The New and Improved Cars.com Is Here

Rhea-AI Summary

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.

Positive

• New platform features enhance user experience and speed.
• Real-time inventory updates with over 50,000 new listings daily.
• Incorporation of advanced tools like Matchmaking 2.0 improves decision-making for shoppers.
• One-click live video chat with nearly 20,000 local dealers enhances buyer engagement.
• Extensive consumer reviews provide valuable insights into dealership quality.

Negative

• None.

CHICAGO, June 28, 2021 /PRNewswire/ -- Cars.com^TM (NYSE: CARS), a leading digital automotive marketplace and solutions provider, today announced a transformed online platform and mobile app for its 26 million monthly unique users¹. The new site offers load times up to 87%² faster and real-time inventory updates of over 50,000 cars added to the site daily³ — an especially important feature in today's car-inventory-starved environment. The upgraded Cars.com, built on cloud-based technology, now delivers a more streamlined and dynamic experience for both car shoppers and sellers.

"The new Cars.com enables a more personalized and contextually relevant car-shopping and selling experience," said Brooke Skinner Ricketts, chief experience officer for Cars.com. "The new site experience accelerates the car-shopping process for consumers and, importantly, unlocks the ability to more quickly innovate and bring new, industry-leading features and solutions to Cars.com that exceed the rapidly changing digital car-buying expectations from consumers and local dealers."

The new platform was created as a launchpad of innovation and implemented with a crisp, modern design that easily helps shoppers find the right car at the right dealership. Cars.com already has millions of new and used car listings, comprehensive editorial content, over 10 million dealer and expert reviews, and nearly 20,000 local dealerships to choose from. The company's updated site experience builds on its wealth of content and offers even more advanced tools, interactive features and personalized content combined with a vibrant, intuitive and accelerated path to purchase.

50,000 Cars Added Daily
More than 50,000 new and used cars are added daily to the new Cars.com and updated in real time³, ensuring shoppers see the newest, widest range of vehicles from Cars.com's network of local dealers across the country. Consumers will find this especially valuable amidst the latest automotive inventory shortage.

Smarter Car Matchmaking
More than 70% of shoppers are undecided about which make or model they want when they first log on to Cars.com⁴. The decision-making process is now easier with an improved Matchmaking 2.0 tool that includes enhanced filters that give undecided buyers the freedom to start with what they know they want — technology, safety features, trunk space, roominess, gas mileage — and follow intuitive prompts, narrowing the search to the perfect, personalized car match.

One-Click Chat Connection to Nearly 20,000 Dealers Nationwide
Cars.com now incorporates new technology to facilitate one-click live video chat functionality, connecting site visitors live to one of Cars.com's nearly 20,000 local dealers within seconds. Dealers can give consumers a virtual video walk around the vehicle and talk specifics including trade-in information and special dealership offers.

Personalized, Relevant Car-Shopping Content
The new Cars.com offers a greater personalized experience for each shopper that includes search-based curated research, original editorial content, price alerts and real-time vehicle valuations, empowering car shoppers to make well-informed decisions that become more curated to each user on subsequent visits. 

The Best Dealers, Rated by Users
Cars.com has amassed over 10 million reviews providing real-time insights from actual shoppers helping spotlight the best dealerships and individual salespeople to buy cars from nationwide, making Cars.com the broadest and largest automotive review platform.

A brand name synonymous with car shopping, the No. 1 app in the category⁵ and the most organically sought after editorial expertise, Cars.com has been the authority for car shopping and selling for nearly a quarter of a century. Over the past year, even more virtual buying options were launched on Cars.com — including Home Delivery — giving car shoppers the option of having millions of cars delivered straight to their driveway from local dealerships across the country.

In addition to the new Matchmaking 2.0 feature, the site also continues to offer a multitude of features to help anyone find their perfect vehicle match on Cars.com, such as Hot Car, a technology that offers highly curated indicators to let shoppers know when a car is going to sell fast so consumers don't miss out on the vehicle they want, and Best Match, a sorting feature that gives shoppers personalized and relevant vehicle search recommendations.

¹ Internal Cars.com Data, January-March 2021
² Internal Cars.com Data, June 18, 2021, *Page visibly loads up to 87% faster, with a sitewide average of 60%
³ Internal Cars.com Data, January -June 14,2021
⁴ Cars.com Consumer Metrics Study, Q1 2021
⁵ No. 1 app in Monthly Active Users, App Annie, February 2021

About CARS
CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources, and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn, and gain market share.

In addition to Cars.com, CARS companies include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences, FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS properties include Cars.com™, Dealer Inspire®, DealerRater®, FUEL™, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-new-and-improved-carscom-is-here-301320699.html

SOURCE Cars.com Inc.

FAQ

What are the key features of the new Cars.com platform launched on June 28, 2021?

The new Cars.com platform features faster load times, real-time inventory updates, enhanced matchmaking tools, and one-click video chat with local dealers.

How does Cars.com address the current car inventory shortage?

Cars.com adds over 50,000 cars daily and offers real-time inventory updates, allowing users to see the latest vehicle options.

What is Matchmaking 2.0 on Cars.com?

Matchmaking 2.0 is an advanced tool that helps users filter their car search based on specific preferences, such as technology and fuel efficiency.

What benefits does the new Cars.com platform offer to car shoppers?

It provides a more personalized experience, real-time price alerts, vehicle valuations, and easier access to extensive dealer reviews.

When was the new Cars.com platform announced?

The new Cars.com platform was announced on June 28, 2021.