Cars.Com Stock Price, News & Analysis

Cars.com (NYSE: CARS) reports a national survey indicating that 66% of Americans are more interested in electric vehicles (EVs) following President Biden's $174 billion infrastructure plan aimed at the EV market. Despite this interest, 81% cite barriers to purchase, including cost, limited range, and charging station availability. Currently, only 1% of search share on Cars.com is for EVs. The study highlights urban buyers as more inclined to purchase EVs, and suggests rising fuel prices could further increase EV consideration.

Cars.com has appointed Jenell Ross to its Board of Directors. Ross, an auto industry veteran with 28 years of experience, is known for her leadership at Bob Ross Auto Group, a successful dealership in Ohio. She has been recognized among Automotive News' 100 Leading Women in the North American Auto Industry. Ross's extensive experience in sales and customer service is expected to enhance the board's focus on market leadership. She also holds multiple board positions, contributing to her deep understanding of the automotive sector.

As pandemic restrictions ease, 57% of Americans plan spring trips, a significant rise from 32% in 2020. 70% will drive, reinforcing cars as a preferred travel mode amid ongoing COVID-19 concerns. Despite travel enthusiasm, 53% still worry about virus exposure. Demand for comfort features is climbing, with searches for sunroofs up 8%, blind spot monitoring by 12%, and LED headlights soaring 20%. The CDC urges caution, advising travelers to follow safety guidelines.

Cars.com Inc. (NYSE: CARS) reported a significant shift in consumer behavior due to the pandemic, with shoppers logging a record 30 million hours on the platform, a 9% increase from March 2020. A survey revealed that 36% of new or used car buyers were first-time buyers. The pandemic expedited car purchase timelines, with nearly 60% of buyers purchasing sooner than planned. New-vehicle prices rose 4.8% year-over-year, while used-vehicle prices increased 9.7%. Urban buyers accounted for 38% of purchases, driven by a demand for personal vehicle ownership.

Cars.com (NYSE: CARS) has launched its new nationwide brand campaign, "It's Matchical", leveraging first-party data and smart matchmaking technology to connect over 20 million monthly unique car shoppers with suitable vehicles. The campaign promotes an enhanced car-buying experience, which now emphasizes personalized curation based on data science. With 50,000 new and used cars added daily, the campaign showcases Cars.com's digital-first capabilities, including live video interactions and contactless delivery. "It's Matchical" will be featured across various media platforms, including during the 2021 NCAA Tournament.

Cars.com Inc. (NYSE: CARS) reported its Q4 and full-year 2020 financial results, highlighting a year-over-year revenue increase in Q4 of 1% to $153 million. Q4 GAAP net income surged to $7.2 million, contrasting a $4.1 million loss in Q4 2019. However, annual revenue fell by 10% to $547.5 million, largely due to COVID-19 impacts. Adjusted net income declined to $70.3 million for 2020. Operating expenses decreased, and the company maintained strong cash flow with total liquidity of $297.7 million. Cars.com aims to invest in growth and technology in 2021.

Cars.com (NYSE: CARS) announced its upcoming financial results for the fourth quarter and full year ending December 31, 2020, set to be reported on February 25, 2021. A conference call will follow at 9:00 a.m. CT to discuss these results. Cars.com is a key player in the automotive digital marketplace, offering solutions to connect car shoppers with sellers. The company provides a range of online resources to help consumers make informed decisions while assisting dealerships with advanced tools to enhance their market reach and inventory turnover.

Cars.com (NYSE: CARS) announced at the 2021 Virtual NADA Show that it sends three times more ready-to-buy car shoppers to dealership websites than its nearest competitors. With a robust organic audience comprising 76% of traffic, Cars.com shoppers are twice as likely to purchase a vehicle. The platform, featuring near real-time inventory and enhanced dealer engagement tools, empowers dealers to focus on customer experience over pricing. Cars.com reports over 25 million monthly unique visitors, facilitating accelerated sales for dealers through its innovative technology and online solutions.