Reach more buyers across the UK with Area Boost

Posted by Andrew Dooley on September 9, 2020

CarGurus is excited to rename and launch Area Boost (previously called ‘Delivery’ during our testing phase) for our dealer partners. Area Boost is an opportunity to sell your vehicles to buyers across the UK.

  • Expand Your Market: Increase exposure and show your listings to low-funnel buyers outside of your local market
  • Grow Buyer Interactions: Get more buyers to your listings — participating dealers start at 37% more Vehicle Detail Page (VDP) views from buyers in their target market
  • Meet Buyer Demand: Compete in low-supply markets by making it easy for buyers to find the cars they want
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Topics: area boost, CarGurus news, delivery

Top 2020 UK used cars by lead submissions broken down by region

Posted by George Augustaitis on September 1, 2020

top-used-cars-by-lead-submissionsThe majority of people in the UK have seen their life change in some way, shape, or form because of COVID. One such example of this is consumers’ driving habits. For many, the daily commute has been eliminated, along with frequent trips to the store, gym, school, childcare facility, etc. Though many, if not most, will eventually return to their previous driving habits, the fact that people are staying home more and driving less has the potential to impact buying activity.

In particular, I wondered how such a significant shift in consumer behavior might influence buyers’ search behavior and interest in vehicles this year. To answer this question, I analysed used vehicle leads on CarGurus for the first half of 2020 and compared it to the used vehicle leads we saw for the same criteria in 2019.

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Highly requested features added to the Market Analysis tool

Posted by Beth Burke on August 24, 2020

The CarGurus Market Analysis tool has been relaunched with exclusive new data and dealer-requested improvements. Market Analysis insights are driven by buyer searches and monthly trends to help you make informed stock acquisition and marketing decisions.

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Topics: cargurus customers, market analysis tool

Adapting to changing consumer preferences in today’s unique selling environment

Posted by Meg Bernazzani on August 20, 2020

Before the COVID-19 pandemic hit, car dealers were already facing questions about what the future of the industry would look like. With consumers’ preferences changing and advancements in digital retailing strategies continuing to be made, many have been at least starting to think about tactics like online financing and home delivery. But the current health crisis has accelerated many of these trends, and today’s dealers must adapt to a new normal.

Like most businesses across the country, dealers have been taking more proactive steps to ensure consumers’ safety at the dealership, rearranging showroom layouts to support social distancing, increasing cleaning measures, and more. According to CarGurus COVID-19 Sentiment Study, among current prospective buyers, top expectations for dealer visits to purchase or service a vehicle include:

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Topics: consumer sentiment, covid-19, industry insights

Discover how CarGurus’ commitment to transparency has helped drive success for Jardine Motor Group

Posted by Beth Burke on August 14, 2020

In this video, Jardine Motor Group’s Market Area Director, Kenny Mark discusses:

  • How the CarGurus platform enables more transparent communication 
  • How they leverage the Pricing Tool to act fast and stay competitive 
  • How CarGurus has become their leading source of used car enquiries for Jaguar Land Rover
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Topics: customer success story, Pricing Tool, transparency

3 ways car dealers are using technology to meet car buyers’ changing expectations

Posted by Beth Burke on August 13, 2020

A recent CarGurus survey of 1,104 car buyers showed that consumer sentiment towards the dealership experience has shifted significantly as a result of COVID-19, with many buyers understandably hesitant to visit dealerships in person anytime soon. To adapt to this sudden shift in shopping behaviour, dealers are adopting new technologies, particularly in three key areas:

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Topics: consumer sentiment, contactless services, industry insights, technology

Stressed, but saving: understanding the pandemic’s impact on consumers’ needs for financing

Posted by Meg Bernazzani on August 12, 2020

Whether it’s due to a vehicle breaking down, a new commute, a growing family, or any number of reasons, a vehicle purchase is essential for many. That’s held true even during the current health crisis: 64% of those planning to buy this year cited the purchase as necessary, according to the CarGurus COVID-19 Sentiment Study in April. However, months later and our follow-up study found that 43% of car buyers aren’t as confident in their ability to afford a vehicle as a result of the pandemic.

With consumers’ dwindling confidence, demand for financing is increasing. Before the pandemic, 40% of car buyers planned to finance their purchase. Now, 51% plan to or have already done so. Additionally, over one-third of those considering financing lost confidence in their ability to get approved (37%) and the financing rate they’d expect (37%).

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Topics: consumer sentiment, financing, industry insights

CarGurus study finds vehicles are more vital than ever to today’s consumers

Posted by Meg Bernazzani on August 10, 2020

As consumers emerge from lockdown, change travel plans, and reconsider what mobility will look like in the long-term, vehicles are becoming even more vital to everyday life, according to our latest COVID-19 Sentiment Study in the UK. In fact, more than a third (34%) of those surveyed said they expect to use their car more going forward than before the pandemic.

In the near-term, 38% of respondents say they see their car as an escape or for fun. Additionally, 42% say they expect to use their car for more road trips or longer drives, while 66% of those planning to travel this year say they intend to drive, rather than fly, for at least one trip.

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Topics: consumer sentiment, covid-19, industry insights

CarGurus in the news: industry publications use CarGurus data to break down consumer sentiment

Posted by Meg Bernazzani on August 4, 2020

A month into the second half of the year, there are still questions about what recovery will look like for the auto industry. Our June COVID-19 Sentiment Study provided a glimpse into the new normal of car shopping — and the industry has taken note. Below are recent news stories that feature CarGurus’ latest data.

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COVID-19 Follow-up study offers a glimpse into the new normal of car shopping

Posted by Beth Burke on July 21, 2020

As a follow-up to the Consumer Sentiment Study we presented in April, CarGurus surveyed an additional 1,104 buyers in June to see how their feelings toward car shopping have changed during the pandemic. Overall, the study shows that despite lingering near-term delays in car purchases, most sales are not expected to be lost in the long term. Here are the key takeaways for dealers – or you can read the full report here.

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Topics: CarGurus data, consumer sentiment, covid-19, Driving Difference