Welcome to our dedicated page for Cars.Com news (Ticker: CARS), a resource for investors and traders seeking the latest updates and insights on Cars.Com stock.
Cars.com Inc. (NYSE: CARS), doing business as Cars Commerce Inc., generates a steady flow of news as an audience-driven technology company serving the automotive industry. Its updates often highlight developments across its Cars Commerce platform, which includes the Cars.com automotive marketplace and review or dealer reputation site, Dealer Inspire digital retail technology and marketing services, AccuTrade trade-in and appraisal technology, the DealerClub dealer-to-dealer wholesale auction and the Cars Commerce Media Network.
Company news frequently covers financial results, with quarterly earnings releases detailing revenue, dealer customer trends, marketplace metrics such as average monthly unique visitors and traffic, and non-GAAP measures like adjusted EBITDA, adjusted net income and free cash flow. These announcements are typically accompanied by Form 8-K filings that furnish the related press releases.
Cars.com Inc. also issues news about product and technology innovation, including AI-driven features. For example, the company has announced Carson™, a multilingual AI-powered search experience on Cars.com that converts conversational queries into targeted search results and is associated with higher engagement and lead-generation metrics based on company data. Additional updates describe AI integration across the platform and the appointment of technology leadership such as a Chief Technology Officer to support innovation and scaling of the technology platform.
Other news items highlight leadership and governance changes, such as the planned transition of the Chief Executive Officer role and related inducement equity awards under a 2025 Inducement Equity Plan, as well as executive appointments and departures disclosed via press releases and Form 8-K filings. The company also reports on strategic partnerships, including content and media collaborations like its role as the first automotive content partner in Uber Advertising’s "JourneyTV Presents" in-ride entertainment experience.
Investors and observers can use the CARS news feed on Stock Titan to follow Cars.com Inc.’s earnings announcements, AI and product updates, leadership transitions, platform metrics and media partnerships, all of which provide context on how the company is positioning its technology and marketplace offerings within the automotive sector.
Cars.com (NYSE: CARS) reports that 67% of parents plan to send their children to in-person school this fall, a significant increase from 39% in 2020. COVID-19 concerns have led 54% of parents to drive their kids to school, while only 38% will use school buses. The survey also reveals that 90% of parents are worried about the delta variant, impacting transportation choices. Key features for safe rides include vehicles with captain's seats and hands-free sliding doors. The survey conducted in July 2021 gathered 1,050 responses.
Cars.com Inc (NYSE: CARS) announced that CEO Alex Vetter will present at the virtual J.P. Morgan Auto Conference on August 11, 2021, at approximately 9:30 a.m. ET. A live audio webcast will be accessible on the Company's website, with a replay available afterward. Cars.com is a leading digital marketplace for the automotive industry, connecting car shoppers with sellers since 1998. Its brands include Dealer Inspire, FUEL, and DealerRater, providing innovative solutions to automotive retailers.
Cars.com Inc. (NYSE: CARS) reported Q2 2021 revenue of $155.5 million, a 52% increase year-over-year. Excluding prior-year invoice credits, revenue rose 11%. The company achieved a GAAP net income of $6.0 million or $0.08 per diluted share. Adjusted EBITDA was $48.5 million, representing 31% of revenue. Operating cash flow surged to $79.6 million, up 38%, while free cash flow reached $66.5 million, up 36%. The outlook for Q3 2021 anticipates revenue between $155 million to $157 million.
Cars.com Inc. (NYSE: CARS) announced it will report its financial results for Q2 2021 on August 5, 2021. A conference call to discuss these results will occur at 9:00 a.m. CT the same day, featuring CEO Alex Vetter and CFO Sonia Jain. Cars.com is a digital marketplace for the automotive industry, launched in 1998. The company provides resources to connect car shoppers with sellers, with additional brands like Dealer Inspire and DealerRater under its umbrella.
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Cars.com (NYSE: CARS) has launched a revamped online platform and mobile app, enhancing user experience for its 26 million monthly unique users. The site boasts load times up to 87% faster and real-time updates with over 50,000 cars added daily. The transformation emphasizes personalized searches and improved matchmaking features, addressing the current car inventory shortage. With innovations like one-click video chat to dealers and curated content, the upgraded platform aims to streamline the car shopping process and leverage its extensive user reviews for better insights.
CARS released its 2021 American-Made Index, ranking vehicles based on their contribution to the U.S. economy. The Tesla Model 3 secured the top spot, marking the first time an all-electric vehicle has achieved this. The index highlights a growing consumer preference for American-made vehicles, driven by heightened demand in the wake of the pandemic and a microchip shortage affecting inventory. The study found that 72% of shoppers consider a vehicle's economic impact when purchasing, up from 70% in 2020.
Cars.com reports that nearly 10% of recent car buyers traveled out of state to purchase their vehicles due to shortages in both new and used car inventories. The data reveals that 52% of those buyers traveled 25 miles or less, while 20% traveled 50 miles and 13% went over 250 miles. Furthermore, 65% of shoppers are considering purchasing from out of state. A significant 53% of buyers plan to trade in their current vehicles, indicating a demand from local dealerships for more inventory.
Research from Cars.com reveals that car shoppers are eager to capitalize on Memorial Day deals amidst inventory shortages. With used-car prices up by 14% since January, consumers are encouraged to sell their vehicles to local dealers for higher trade-in values. Despite a 5% increase in new-car prices, 51% of shoppers are ready to spend more this weekend. The survey shows 40% of shoppers struggling to find their desired vehicles, with 61% planning to buy new cars. Overall, despite challenges, Memorial Day remains an attractive time for buying and selling cars.
Americans are eager for summer travel, with a Cars.com survey indicating that 60% plan to travel this Memorial Day weekend, a 66% increase from last year. Despite rising gas prices, 89% of travelers will opt to drive, reflecting continued trust in personal vehicles over other transportation forms. Over 40% of travelers are fully vaccinated. The survey also highlighted a significant impact of limited rental car availability on the decision to travel by personal vehicle. Most travelers plan to visit family and friends, indicating a strong desire for in-person connections as health guidelines evolve.
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