CARGURUS LAUNCHES PAID SEARCH FOR DEALERS IN PARTNERSHIP WITH GOOGLE

• Paid search solution helps drive traffic directly to dealers' websites to secure better-quality leads
• Eliminates guesswork and increases performance at scale
• Expands CarGurus' UK business and strengthens its marketing platform

London, UK, 3rd April 2019 - CarGurus, the fastest growing automotive shopping site in the UK among its nearest competitors*, today announced the launch of a paid search solution for dealers in partnership with Google. CarGurus' Paid Search helps attract car buyers to dealers' own websites through powerful machine learning, that eliminates guesswork and improves results from Google using search engine marketing.

Early adopters of the new solution, who have taken part in beta tests, have seen as much as a 32% percent lift in leads driven from their own websites. These clients include some leading UK dealerships, such as Sascron Car Supermarket.

"We're able to tap into CarGurus' wealth of knowledge and expertise in search engine marketing and have since increased traffic to our website by over 38% and quality leads from CarGurus by 50%" said Kim Choda, Director, Sascron Limited. "30 - 40% of our leads now come through CarGurus, whether it's their paid search or listings platform and the cost we're paying per lead delivers a significant return on investment. It's a game changer."

With the automotive industry seeing substantial growth of digital advertising spend in the past few years, the second fastest industry after retail**, the search side of the industry is yet to be disrupted. Dealers actively seek impactful solutions to drive high intent car buyers to their own websites and physical forecourts. CarGurus' approach to search offers a fully managed solution, delivering performance at scale both online and offline.

"The new paid search solution has enormous potential for UK dealers by targeting prospective car buyers so early in the process," said Spencer Scott, Senior Vice President of Advertising and Digital Marketing at CarGurus. "With increasing competition in the market, used car dealers are losing out on significant opportunities as a result of not using paid search in their marketing mix. We believe that forward thinking dealerships that use our solution will also benefit from significant efficiencies when compared to manual, reactive optimisation approaches. This time saving could be the difference between winning or losing a lead."

CarGurus Paid Search, based off algorithmic bidding strategies and real-time optimisations, updates inventory-based dynamic ads with a scale of on average one million keywords per account. With a dedicated CarGurus' Google Certified Account Manager included with the solution, dealers can now achieve this scale without the need for big teams or massive budgets typically required.

"We are pleased to have CarGurus on board as a Google Partner in the UK," said Adrian Blockus, the head of channel sales for Google in the UK and Ireland. "CarGurus clearly has huge ambitions to become a major player in the UK used car space and by being able to offer dealers this scalable solution we have no doubt they will continue to grow their presence here."

Paid Search strengthens CarGurus' product portfolio and platform in the UK by bringing its strong roots in search engine marketing to a new marketing channel, helping dealers stay current and competitive in a contesting landscape.

Created by TripAdvisor co-founder Langley Steinert, CarGurus combines dealer reviews with comprehensive car valuation analytics to bring trust and transparency to the automotive marketplace, allowing buyers to quickly and easily find great deals from top-rated dealers.

Visit CarGurus at www.cargurus.co.uk.

-ENDS-

• Source: Comscore MMX® Multi-Platform, Custom-defined list includes Cargurus.CO.UK, Motors.CO.UK, AutorTrader.CO.UK, Pistonheads.com, Gumtree.com, Percent Change in average unique monthly visitors from Q4 2017 to Q4 2018, UK.

** eMarketer, Automotive Industry Digital Ad Spending, March 2017