“Over the course of 2019, we invested significant resources to increase our brand recognition, boost direct traffic, improve the consumer experience and, ultimately, increase the quality and quantity of leads we deliver to dealers,” CEO Langley Steinert told analysts Thursday on a fourth-quarter earnings call.
“We made important progress against each of these initiatives throughout the year.”
CarGurus said it had 28,990 paying dealers in the U.S. at the end of 2019, up from 27,534 the previous year. The company uses a “freemium” model that allows dealerships to list their inventory for free, but they can unlock additional features with a subscription fee. CarGurus previously told Automotive News its total dealership count is more than 40,000.
Last month, CarGurus acquired Autolist, a San Francisco online vehicle marketplace that is expected to increase scale for dealers. Dealers who pay to list their inventory on CarGurus also will have access to Autolist, which the company has…
Source news autonews.com, click here to read the full news.