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CarGurus credits new dealer product offerings with Q3 growth
CarGurus saw double-digit revenue growth in the third quarter despite dealerships facing a tougher macroeconomic environment and consumers’ continuing affordability concerns. “While we have been encouraged by the sequential improvement at the dealer level, we do not believe that dealer enthusiasm has returned to 2025 levels driven primarily by dealer margin pressure. For the consumer, […]
Cars.com sets sights on independent dealers with new product launched during Q3 earnings call
During its third quarter earnings call, Cars.com launched Marketplace Starter, a no-fee self-service subscription plan aimed at independent dealers. The online marketplace sees attracting more independent dealers to list on its site as a key to long-term sustainability. “In keeping with our focus on development velocity, we launched our first self-service marketplace offering to better […]
REPORTER ANALYSIS: How Penske fared in Q3, its last before reaching deal to go private
Penske Automotive Group reported its third-quarter financial results late last month, with quarterly revenue up 5% year over year to $8.4 billion. However, those used to PAG’s detailed earnings call presentation after the initial press release found things a bit different this time around. Its second-quarter conference call with industry analysts earlier this year might […]