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) has acquired DealerClub, a reputation-based automotive digital wholesale auction platform, for approximately $25 million in cash with potential additional performance-based payments up to $88 million. The transaction, closed on January 23, 2025, advances Cars.com's Trade & Appraisal strategy and enables entry into the wholesale used car market valued at over $10B.
DealerClub, launched in 2024 by ACV Auctions founder Joe Neiman, serves over 650 dealer customers through a reputation-based system that promotes trust and minimizes disputes. The platform generates revenue primarily through transaction fees and will be integrated into the Cars Commerce platform to add dealer-to-dealer wholesale capabilities.
The acquisition is expected to have minimal revenue impact in 2025 and is not anticipated to be accretive to Adjusted EBITDA during the initial investment phase to scale DealerClub.
Cars Commerce (NYSE: CARS) has revealed new data highlighting the effectiveness of its connected platform. Dealers using multiple core capabilities of the platform receive up to 2x more leads and sell inventory 10% faster than those using single capabilities.
The platform's four core capabilities include: Marketplace, serving 25 million monthly shoppers; Digital Experience through Dealer Inspire, offering 40% more key events; Trade & Appraisal via AccuTrade, which completed 2.5 million appraisals in 2024 with 45% YoY growth in used-car acquisitions; and the Cars Commerce Media Network, which shows 5x higher conversion rates than Google audiences with 32% lower cost-per-click.
The company addresses dealers' top 2025 concerns: acquiring used vehicles profitably, targeting quality in-market shoppers, and differentiation from competitors.
Cars.com has released its 2025 Automotive Trends report, highlighting both challenges and opportunities in the automotive market. The average new-vehicle price has stabilized at $49,000, down from its peak of $50,300 in June 2023. While affordability remains a key concern, there's positive news as inventory of new vehicles under $30,000 increased by 42% year-over-year.
The used car market faces supply constraints due to reduced sales and leases in recent years. The definition of 'American-made' is evolving, influenced by the Inflation Reduction Act and potential new tariffs. In the EV sector, inventories grew 35% year-over-year, though new EVs remain $13,000 above average new car prices. Used EV prices have declined significantly, making them more accessible, while hybrid vehicles gain popularity as a compromise between traditional and electric vehicles.
Cars.com (NYSE: CARS) reported Q3 2024 results with revenue of $179.7 million, up 3.1% year-over-year. Net income reached $18.7 million ($0.28 per diluted share), compared to $4.5 million in Q3 2023. The company achieved notable growth in OEM and National revenue (+17% YoY) and maintained strong Adjusted EBITDA margin of 28.5%. Year-to-date net cash from operations increased 34% to $123 million. The company repurchased 1.2 million shares, representing 45% of quarterly free cash flow. Notable metrics include 19,255 dealer customers and monthly ARPD of $2,478.
Cars Commerce Inc (NYSE: CARS) announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024. The company will host a conference call and live webcast at 8:00 a.m. CT/9:00 a.m. ET on the same day. CEO Alex Vetter and CFO Sonia Jain will lead the discussion. Investors can access the webcast at investor.cars.com, with a replay available afterward in the Events section of the Investor Relations website.
Cars Commerce's September Industry Insights Report reveals significant shifts in the automotive market. New-car prices declined 1.5% year-over-year due to inventory surpluses, particularly for Stellantis brands. The average new car price remained steady at $49,000, while the Cars.com New Car Price Index fell almost 5 percentage points YoY.
Stellantis brands faced price declines, with Jeep down 5%, Ram 7%, and Dodge 3%. In contrast, Toyota and Honda saw price increases of 3% and 8% YoY, respectively. The used-car market stabilized, with average prices down 5% YoY to $28,882.
New-car searches dipped 5% month-over-month following typical post-Labor Day patterns. Inventory levels rose nearly 30% YoY, with Ford leading at 33% growth. The EV market showed divergence, with used EV searches growing faster than new, while new EV inventory outpaced demand growth by nearly 50% YoY.
Cars Commerce's August Industry Insights Report reveals a stabilizing automotive market. New-car inventory shows significant growth, with Ford (50% YoY), Chevrolet (47% YoY), and Honda (74% YoY) leading the way. The used-car market is leveling out, with prices down 5% YoY and relatively flat since April.
Key findings include:
- New-vehicle prices are leveling out
- Used-car inventory is down 13% compared to five years ago
- Vehicles under $20,000 increased 19% YoY
- Used EVs face pricing volatility, with Tesla and Rivian experiencing significant trade-in value declines
- The Federal Reserve's recent interest rate cut may encourage more consumers to purchase vehicles
Cars Commerce's July Industry Insights Report reveals significant shifts in the automotive market. The new-car market has seen a sharp decline in vehicles priced under $30,000, with only 333,000 available compared to 1.1 million in July 2019. The average new-car price remains steady at $49,000, but this is $6,000 higher than expected based on typical growth rates.
The used-car market is facing challenges with a scarcity of low-mileage, lightly used vehicles. Used-car prices have decreased 6% year-over-year, while inventory has increased slightly by 1%. Vehicles under $30,000 have seen a 3% price drop and a 9% inventory increase. However, the availability of vehicles priced between $30,000 and $49,000 has decreased by 15%, reflecting a shortage of 1-to-3-year-old vehicles.
Used vehicles under $20,000 now have an average of 93,000 miles, up 33% in five years. The shortage of low-mileage inventory is particularly noticeable in the higher-end used-vehicle market, where the average price is $77,000, exceeding the average cost of a new luxury vehicle.
Cars.com's 2024 Best Cars for Car Seats Report reveals that over 60% of parents consider car seat compatibility when purchasing a vehicle. The report highlights six SUVs as top performers, with Volkswagen models securing half of the top spots. These vehicles excel in accommodating various car seats safely and easily.
Key findings include:
- 84% of parents who brought a car seat to dealerships found their questions effectively answered
- All top-performing vehicles are SUVs, with prices starting around $40,000
- The 2024 Subaru Crosstrek stands out at $25,000, significantly below the median compact SUV price
- Five of the six top vehicles were also recent honorees on Cars.com's 2024 American-Made Index
- The Volkswagen ID.4, an electric option, has seen a 21% price decrease
This report aims to empower parents in making informed decisions for their growing families' transportation needs.
Cars.com Inc. (NYSE: CARS) reported strong Q2 2024 results with revenue growing 6.4% year-over-year to $178.9 million. The company saw record 28% year-over-year growth in OEM and National revenue. Net income was $11.4 million, or $0.17 per diluted share. Adjusted EBITDA increased 10% to $50.4 million, representing 28% of revenue. The dealer customer base grew to 19,390, with Average Revenue Per Dealer (ARPD) slightly up at $2,474. The company generated $69 million in year-to-date cash flows from operating activities and aims to return 50% of second-half 2024 free cash flow to shareholders through share repurchases. Cars.com reaffirmed its full-year Adjusted EBITDA outlook but updated its revenue growth forecast to 4.5-5.5%, down from the previous 6-8% range.