CARGURUS EXTENDS 50% DISCOUNT THROUGHOUT MAY TO SUPPORT UK DEALERS
- CarGurus extends the 50% discount on subscriptions throughout May for subscribing dealers on both CarGurus’ UK and PistonHeads platforms
- Focus on delivering industry-leading ROI for dealers so they can manage through COVID-19 business challenges and build future pipeline
- Dealer Resource Centre providing COVID-19 updates and resources for dealers
London, UK, 2nd April 2020 - As the COVID-19 situation evolves, CarGurus, a leading automotive marketplace, is continuing to support dealers in the UK. The company today announced they will extend their existing 50% discount on subscriptions for UK dealers through May, for both CarGurus’ UK and PistonHeads platforms. The move extends the rate reduction that was the first of its kind among large automotive marketplace sites in the UK when it was announced by CarGurus in March.
Wendy Harris, Vice President of European Sales for CarGurus, said: “At CarGurus, we are doing everything we can to support our dealers and enable them to continue to connect with buyers and build a pipeline for brighter days ahead. This is a challenging business climate, but we are going to keep pushing to provide the best ROI for our dealers so they can manage through this period and be ready for recovery. We are all in this together.”
CarGurus continues to invest in driving traffic to both CarGurus.co.uk and PistonHeads.com to support the many buyers who are researching online and thinking about their next purchase. The company is also making improvements to the user experience on the site to support buyers and dealers during this time when visits to forecourts are limited. Dealers can find additional COVID-19 updates and resources in the CarGurus Dealer Resource Centre here. Dealers with questions about discounted rates should contact their CarGurus or PistonHeads Representative, or call 0808 169 2483.
James Drake at CarGurus – UKPR@CarGurus.com / 0208 541 3434 / +44 07809 657178
How CarGurus Works:
CarGurus helps car shoppers search local car listings and quickly find great deals from top rated dealers. Every day, the company analyses millions of data points on hundreds of thousands of UK car listings to calculate each car’s Instant Market Value (IMV) or fair retail price. This data is used in combination with dealership ratings from other shoppers to rank and rate available cars results based on the quality of the deal: Great, Good, Fair, High or Overpriced. The site also provides transparency on how long the car has been on the forecourt and if it’s had a price drop. Consumers can contact dealers directly.
Founded in 2006 by Langley Steinert (also a co-founder of TripAdvisor), CarGurus (Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of cars. The company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top rated dealers. CarGurus is the most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q4 2019, U.S. (Competitive set: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). CarGurus launched in the UK in 2015 and is the fastest growing auto shopping site in the UK among its nearest competitors based on the percent change in average unique monthly visitors from Q4 2018 to Q4 2019 (source: Comscore MMX Multi-Platform®, Custom-defined list includes CarGurus.CO.UK, Motors.CO.UK, AutorTrader.CO.UK, PistonHeads.com, and Gumtree.com). In 2019, CarGurus acquired UK-based PistonHeads.com, which it operates as an independent brand. In addition to the United Kingdom and the United States, CarGurus operates online marketplaces in Canada, Germany, Italy and Spain.
CarGurus® is a registered trademark of CarGurus, Inc. All product names, trademarks and registered trademarks are property of their respective owners.
To learn more about CarGurus visit www.cargurus.co.uk.
© 2020 CarGurus, Inc., All Rights Reserved.
Cautionary Language Concerning Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding our ability to deliver a strong ROI for our dealer customers, investments in driving traffic to our websites, improvements to our site user experience, our business and growth strategy, and our ability to help our dealer customers, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “guide,” “intend,” “likely,” “may,” “will” and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation: risks related to our rapid growth and ability to sustain our revenue growth rate; our relationships with dealers; competition in the markets in which we operate; market growth; our ability to innovate and manage our growth; our ability to expand effectively into new markets; our ability to realize benefits from our acquisitions and successfully implement the integration strategies in connection therewith; natural disasters, epidemics or pandemics, like COVID-19 that could negatively impact our business; our ability to operate in compliance with applicable laws; as well as other risks and uncertainties set forth in the “Risk Factors” section of our Annual Report on Form 10-K, filed on February 14, 2020 with the Securities and Exchange Commission (SEC), and subsequent reports that we file with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.