CarGurus Continues to Support Canadian Car Dealers with Rate Reductions for June

About this update from Cargurus, Inc.

[{"type":"text","content":"CAMBRIDGE, Mass., May 05, 2020 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global automotive marketplace, today announced a 20% rate reduction for the month of June for its subscribing dealerships in Canada. CarGurus was first among the major Canadian online automotive marketplaces1 to offer discounts to dealers in April and has continued to offer discounts through June.\n The June discount is intended to provide extended cost relief, enabling dealers in Canada to continue to connect with shoppers on the CarGurus platform and benefit from pent-up demand heading in to summer. An April survey by CarGurus showed that while 87% of Canadian car shoppers surveyed say they expect to purchase a car later than they had planned, only 6% of consumers who had planned to buy a car this year before the pandemic have now delayed indefinitely. In fact, among shoppers still planning to buy in 2020, more than one third (33%) plan to purchase a vehicle in the next three months, and more than half (53%) in the next six months. “Our dealer customers in Canada have shown tremendous resilience during this pandemic, and we want to do everything we can to support them and help them succeed,” said Sam Zales, President and COO at CarGurus. “We hope the June discount, as well as the other free services and resources we are offering, can help dealers best position their businesses for recovery.” As COVID-19 business and safety guidelines continue to evolve in Canada, many of CarGurus’ dealer customers are still able to engage shoppers online and through socially distant methods. To promote those capabilities, at no charge, over 5,000 dealers worldwide have signed on take advantage of CarGurus’ new Contactless Services features. Dealers can find more COVID-19 information and learn how CarGurus can be a partner and resource at this time by visiting the Driving Difference area of the CarGurus Dealer Resource Center. Dealers with questions about discounted rates should contact their CarGurus representative or call 1-800-CARGURUS. About CarGurus Founded in 2006, CarGurus (Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The Company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great dea...

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