Tax Season Car Shopping: CarGurus Shares Tips to Help Buyers Stretch Their Refund

Rhea-AI Summary

CarGurus (NASDAQ:CARG) on March 19, 2026 published tax‑season car‑shopping guidance highlighting market opportunities and AI tools to help buyers stretch refunds.

Key points: used demand is rising, average new prices hold near $50,000, certain states offer lower median new and used prices, new car supply is the highest since mid‑2020, and select EVs show year‑over‑year price declines.

News Market Reaction – CARG

+0.09%

1 alert

+0.09% News Effect

On the day this news was published, CARG gained 0.09%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Average tax refund change: 10% higher National new car median price: $45,179 Florida new car median: $42,288 +5 more

8 metrics

Average tax refund change 10% higher Average refund vs prior year

National new car median price $45,179 Reference for state affordability comparison

Florida new car median $42,288 Median new list price vs $45,179 national median

Florida used car median $19,614 Used cars in value sweet spot

Dodge Hornet median price $32,485 Median new list price; 316 median days on market

GMC Sierra EV price $72,937 Average price; -23.5% vs 2025

Chevrolet Equinox EV price $35,313 Average price; -21% vs 2025

Hyundai Ioniq 5 price $39,544 Average price; -22.6% vs 2025

Market Reality Check

Price: $34.82 Vol: Volume 1,520,305 vs 20-da...

normal vol

$34.82 Last Close

Volume Volume 1,520,305 vs 20-day average 1,650,315 (relative volume 0.92). normal

Technical Price $33.96 is trading slightly below the 200-day MA at $34.10.

Peers on Argus

CARG gained 1.62% with modest volume, while key auto/transport peers like KAR, D...

CARG gained 1.62% with modest volume, while key auto/transport peers like KAR, DRVN, RUSHA, SAH, and ABG each showed positive moves but did not trigger momentum scanner activity, suggesting today’s move is more company-specific than a broad sector rotation.

Historical Context

5 past events · Latest: Feb 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 19	Full-year 2025 earnings	Positive	+3.3%	Strong 2025 growth, higher profitability, and new share repurchase authorization.
Feb 11	AI product launch	Positive	-2.6%	Expanded brand campaign and rollout of AI-driven Dealership Mode and Discover.
Feb 02	Earnings date notice	Neutral	-9.0%	Announcement of timing for Q4 and full-year 2025 results release.
Jan 22	AI strategy update	Positive	+1.5%	20-year milestone with emphasis on AI assistants and dealer pricing tools.
Jan 06	Conference participation	Neutral	-1.3%	CEO fireside chat at Needham Growth Conference for investor outreach.

Pattern Detected

Operational and AI product updates have often seen positive alignment, while marketing/branding news and event notices have produced more mixed or negative reactions.

Recent Company History

Over the last few months, CarGurus reported strong FY25 results, with revenue of $907.0M and GAAP net income from continuing operations of $196.7M, and launched a new $250.0M repurchase program. It has emphasized AI initiatives like CarGurus Discover and Dealership Mode and wound down CarOffer, consolidating reporting into a single segment. Earlier AI and campaign announcements saw mixed share reactions, while earnings on Feb 19, 2026 were followed by a positive move. Today’s tax-season shopping tools news builds on those AI and consumer-focused themes.

Market Pulse Summary

This announcement emphasizes how CarGurus uses data and AI to help tax-season car shoppers find valu...

Analysis

This announcement emphasizes how CarGurus uses data and AI to help tax-season car shoppers find value, highlighting state-level pricing, used-car “sweet spot” metrics, and notable EV price declines. It also showcases AI tools like CarGurus Discover and Dealership Mode that support discovery and in-dealership decisions. In context of FY25 revenue of $907.0M and ongoing AI product launches, investors may watch adoption of these tools and evolving car price trends as key indicators.

Key Terms

ai-powered tools, conversational search, ai-generated recommendation, electric vehicles

4 terms

ai-powered tools technical

"CarGurus experts spotlight the market insights and AI-powered tools that can help shoppers"

AI-powered tools are software and systems that use artificial intelligence to analyze data, make predictions, automate routine tasks, or assist human decision-making — like a smart assistant that sifts through large amounts of information and suggests actions. Investors care because these tools can lower costs, speed up operations, and create new revenue opportunities, while also introducing risks around accuracy, regulation, and competitive shifts that can affect a company's value.

conversational search technical

"shoppers can use conversational search to uncover listings based on their unique preferences"

Conversational search is software that lets users ask questions in everyday language and receive direct, dialogue-style answers or relevant results instead of a list of links. Think of it as talking to a helpful librarian who summarizes what you need, refines follow-up questions, and points to the best sources; for investors, it matters because it can change user engagement, monetization, search market share and costs or risks around data quality and privacy.

ai-generated recommendation technical

"get an AI-generated recommendation on their best option, and easily calculate the final price"

AI-generated recommendation is a buy, sell or hold suggestion produced by computer algorithms that process large amounts of market data, news and company filings to spot patterns and trends. Investors care because these recommendations can speed up research and surface opportunities humans might miss, but they depend on the model’s inputs and assumptions—think of them as a data-driven GPS: helpful for navigation, yet not infallible and should be checked against human judgment.

electric vehicles technical

"Slowing demand for new EVs has also opened opportunities for deals."

Vehicles that use electric motors powered primarily by rechargeable batteries instead of relying only on an internal combustion engine and gasoline; you can think of them like replacing a fuel tank with a battery you plug in to recharge. They matter to investors because adoption shifts consumer demand, supply chains, manufacturing costs, and regulatory incentives, all of which affect the sales, profits and competitive positions of companies across the auto, energy and technology sectors.

AI-generated analysis. Not financial advice.

With car and gas prices on the rise, CarGurus experts spotlight the market insights and AI-powered tools that can help shoppers find their best value this spring

BOSTON, March 19, 2026 (GLOBE NEWSWIRE) -- CarGurus, the No. 1 most visited automotive shopping site in the U.S.¹, today released tips for car shoppers looking to find their best deal this tax season. With demand for used cars rising, new car prices remaining high, and uncertainty around gas prices putting more attention on fuel-efficient models, CarGurus experts have identified the top opportunities to find value today — especially for shoppers planning to put their tax refund to work, with the average refund coming in 10% higher than last year.

“This tax season, timing and location can make the difference in finding a deal,” said Kevin Roberts, Director of Economic and Market Intelligence at CarGurus. “Used car demand is already picking up, and competition is likely to continue growing, putting pressure on prices. While new car demand is slowing, the average price is holding at around $50,000 as affordable options are getting harder to find. The good news, though, is that certain models and regions are showing signs of opportunity for shoppers.”

Top States for Value and Selection
For shoppers looking to stretch their refunds, several states stand out for having a wider selection of affordable new and used car options. The most affordable states² for a new car relative to the national median price of $45,179 are:

• Florida – Median list price: $42,288
• Ohio – Median list price: $43,773
• Maryland – Median list price: $43,773
• Tennessee – Median list price: $43,920
• New Mexico – Median list price: $44,020

For used car shoppers, select states have the highest supply in the “value sweet spot,” with newer model years (2016 or younger), reasonable mileage (80,000 miles and under), and competitive pricing ($25,000 or below). This includes:

• Florida – Median list price: $19,614 | Average Mileage: 41,087 | Average Model Year: 2022
• Texas – Median list price: $19,999 | Average Mileage: 43,403| Average Model Year: 2022
• California – Median list price: $19,999 | Average Mileage: 45,897 | Average Model Year: 2021
• Illinois – Median list price: $20,604 | Average Mileage: 44,306 | Average Model Year: 2021
• New York – Median list price: $20,795 | Average Mileage: 40,731 | Average Model Year: 2021
  
  
  

Refund Ready Rides 
Nationally, new car supply is at its highest since mid-2020, according to CarGurus’ February Intelligence Report. This could give shoppers more room to negotiate on new models that have been listed longer than average. Examples include:

• Dodge Hornet – Median new list price: $32,485 | Median days on market: 316
• Jaguar F-PACE – Median new list price: $65,936 | Median days on market: 274
• Cadillac XT6 – Median new list price: $55,511 | Median days on market: 214
• Nissan Kicks Play – Median new list price: $20,995 | Median days on market: 212
• Subaru Legacy – Median new list price: $31,296 | Median days on market: 191
  

Slowing demand for new EVs has also opened opportunities for deals. The following new EV models have seen the biggest price declines over the last year:

• GMC Sierra EV – Average price: $72,937 | -23.5% vs. 2025
• Chevrolet Equinox EV – Average price: $35,313 | -21% vs. 2025
• Hyundai Ioniq 5 – Average price: $39,544 | -22.6% vs. 2025
• Dodge Charger Daytona – Average price: $59,020 | -13.6% vs. 2025
• Volkswagen ID.Buzz – Average price: $59,344 | -11.8% vs. 2025

Tools that Help Buyers Shop Smarter
For many, a tax refund can create an opportunity to put more money toward a car purchase. Deciding which option best fits your needs and budget isn’t always as straightforward.

CarGurus’ AI-powered tools and features help make that process easier. With CarGurus Discover, shoppers can use conversational search to uncover listings based on their unique preferences, budget, and location. Once they step onto a dealer’s lot, Dealership Mode in the CarGurus app lets users compare vehicles side-by-side, get an AI-generated recommendation on their best option, and easily calculate the final price. For those considering whether to buy locally or look further from home, CarGurus’ extensive filters let shoppers search by distance, making it simple to weigh the pros and cons of buying in another state where pricing or inventory may be more favorable.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.¹ with the largest selection of inventory and network of dealers.³ CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K.³, and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com.

¹Similarweb: Traffic and Engagement Report [Cars.com, Autotrader.com, TrueCar.com, CARFAX.com Listings (defined as CARFAX.com Total Visits minus Vehicle History Reports)], Q4 2025, U.S.
²Analysis focused on the continental United States
³Compared to Autotrader.com (YipitData July/August 2025), Cars.com,
TrueCar.com (YipitData as of September 30, 2025), and CARFAX (Joreca as of September 30, 2025).
³Similarweb: Traffic Insights, Q4 2025, U.K.

Media Contact:
Maggie MeluzioDirector, Public Relations & External Communications
pr@cargurus.com

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
investors@cargurus.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfe87eeb-ccaa-40e1-8b92-2b681dd62af1.

FAQ

What tax‑season tips did CarGurus (CARG) share on March 19, 2026 for stretching a refund?

Use timing, location, and AI tools to find value; search wider and compare listings. According to CarGurus, shoppers should consider markets with lower median prices and use CarGurus Discover and Dealership Mode to compare vehicles and calculate final prices.

Which states did CarGurus (CARG) identify on March 19, 2026 as most affordable for new cars?

CarGurus listed Florida, Ohio, Maryland, Tennessee, and New Mexico as most affordable versus the $45,179 national median. According to the company, those states showed lower median new list prices, offering better selection relative to the national median.

What used‑car value markets did CarGurus (CARG) highlight on March 19, 2026 for buyers using tax refunds?

CarGurus named Florida, Texas, California, Illinois, and New York as having the most value‑sweet‑spot used cars under $25,000. According to the company, these markets feature newer model years, reasonable mileage, and competitive pricing for budget shoppers.

Which new EV models showed the largest price declines per CarGurus (CARG) on March 19, 2026?

GMC Sierra EV, Chevrolet Equinox EV, Hyundai Ioniq 5, Dodge Charger Daytona, and Volkswagen ID.Buzz saw the biggest declines year‑over‑year. According to CarGurus, these models experienced double‑digit percentage drops versus 2025 average prices.

How can CarGurus' AI tools help buyers decide whether to buy locally or out of state, per the March 19, 2026 release?

AI tools and filters let shoppers compare distance, price, and inventory to weigh local versus out‑of‑state purchases. According to CarGurus, Discover offers conversational search and Dealership Mode provides side‑by‑side comparisons and AI recommendations on lot visits.