CarGurus Expands To Canada; Offers Canadians a Faster, Easier Way to Shop for Great Car Deals
Leading U.S. car shopping website brings transparency on car prices and dealer reputation
CAMBRIDGE, Mass., May 26, 2015 -- CarGurus, a leading U.S. car shopping and research website, today announced the launch of CarGurus Canada (http://ca.cargurus.com). The site analyzes how car listings stack up in a local marketplace and helps shoppers find great deals from reputable local dealerships.
Founded by Langley Steinert (also a co-founder of TripAdvisor), CarGurus is the second largest auto shopping site in the U.S. by daily unique visitors (comScore April 2015). The site uses mathematical models to analyze and compare prices, specs and dealer ratings on millions of car listings every day, then ranks user search results according to which offer the best deals from the top-rated dealers in a designated area.
Consumers are increasingly using digital and mobile technologies to research their next car purchase, and they often look to third-party sources for comparative and unbiased information. A recent CarGurus poll found that 78 percent of online car shoppers believe getting independent, third-party market value information on the vehicle they are considering is “very important” and they would not move forward on a car purchase without it. Similarly, 71 percent of poll respondents said they read dealership ratings and reviews before they contact a dealer.
“Car shoppers want more transparency and efficiency as they research their purchase. We see tremendous opportunity in Canada to deliver on this promise with a model that is unique in the market,” said Langley Steinert, Founder and CEO of CarGurus. “As we’ve proven in the U.S., when the car shopping process is transparent, everybody benefits -- shoppers and dealers alike.”
CarGurus Canada features new and used car listings available from Canadian dealerships. The Canadian site is currently available in English, with a Canadian French version in development.
How CarGurus Works
Shoppers can conduct searches at CarGurus’ desktop or mobile sites (http://ca.cargurus.com), and can filter their search based on vehicle preferences and distance radius. They can also request automated inventory and price drop email alerts.
With every search a user conducts, CarGurus ranks results according to which offer the best deal and qualifies each deal as “great,” “good,” “fair,” or “overpriced.” Rankings and deal ratings are determined by mathematical models which factor an Instant Market Value (IMV) for each car as well as dealership ratings submitted by the CarGurus shopper community. IMV assessments are based on analysis of millions listings and take into account variables including year, make, model, trim, options, mileage, location and vehicle history. Organic search rankings on the site are strictly data-driven, providing consumers with an independent, unbiased view on how available listings compare.CarGurus also helps dealerships connect with customers through programs that provide additional brand exposure and drive high-volume customer leads. More than 7,000 car dealerships in the U.S. currently partner with CarGurus on such programs, with very high ROI. Canadian dealers wishing to activate their inventory on CarGurus and learn more about other advertising programs should visit https://ca.cargurus.com/Cars/dealer/support.action or call 1-888-997-2190.
With more than 15 million unique monthly visitors, CarGurus is the fastest growing automotive research and shopping website in the United States. The company was founded by CEO, Langley Steinert, also a co-founder of TripAdvisor and has world headquarters based in Cambridge, Massachusetts. CarGurus Canada (http://ca.cargurus.com) is the company’s first international site.