Cars.com Has Generated More Than 5,000 Qualified Cash Offers for Consumers 

Since Launch to Select Markets in May

50% of Consumers Planning to Sell a Car Prefer to Trade In Their Used Vehicle at Dealership

CHICAGO (Aug. 1, 2022) — Americans have several options when it comes to selling their car, but half (50%) prefer to work directly with a local dealership, according to a recent survey by car-shopping marketplace Cars.com (NYSE:CARS). While consumers have long been able to sell their cars to other consumers on Cars.com, they can now take things a step further.1 Instant Offer, powered by Accu-Trade, is a new capability on Cars.com that lets consumers tap the company’s large network of nearly 20,000 dealers across the country to sell their used car instantly. Consumers are able to get a competitive cash offer from a local dealership in their area and pick up a check the same day. 

“About 40% of the 27 million monthly shoppers on Cars.com have a car to trade in before purchasing a new one, and we wanted to offer a seamless experience for those consumers to connect with local dealers and have a convenient, safe and fast place to sell their car,” said Doug Miller, president and chief commercial officer at Cars.com.2 “Our new Instant Offer capability curates the best offer for a consumer and enables them to sell their used car to a qualified local retailer, collect a check and purchase a new vehicle all in the same day.”

As vehicle inventory levels continue to be a concern, Cars.com’s new Instant Offer allows consumers to get a competitive cash offer for their used car while also supporting local dealerships with much-needed inventory. Consumers are already taking advantage: Since its roll out in May to select markets, Cars.com’s new solution has generated more than 5,000 Instant Offers and is expected to scale rapidly as the product goes nationwide.2

Cars.com also released new digital advertising as part of their “It’s Matchical” brand campaign to announce the new Instant Offer solution and drive awareness. Consumers interested in connecting with a dealership through Instant Offer or selling their car to another consumer can visit Cars.com/Sell.

1Cars.com Consumer Metrics, March 1, 2022

2 Cars.com internal data

Transaction Highlights:

• Advances CARS’ growth strategy and expands TAM into the multi-billion dollar Auto Finance segment, which is rapidly growing as online car buying transactions accelerate 
• Builds additional revenue streams and strengthens attribution for CARS while expanding end-to-end transaction platform capabilities
• Increases dealers’ financing profit while enhancing operational efficiencies 
• Expected to drive immediate incremental revenue and gross profit as we roll out across the network

CHICAGO, November 4, 2021 – Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions, announces it has signed a definitive agreement to acquire CreditIQ, a cutting edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying. Consideration for the transaction will be $30 million at closing, funded using cash on hand, with the potential for up to an additional $50 million in performance-based cash consideration to be earned over the next three years. The transaction is expected to close this month.

”The acquisition of CreditIQ technology facilitates CARS’ entry into the rapidly-growing, multi-billion dollar Auto Finance market, expanding our TAM beyond the $35 billion Auto Advertising and Dealer Technology markets we operate in today. We’re excited to participate in this space with powerful digital solutions for dealers that facilitate online financing and enable them to better compete,” said Alex Vetter, President and Chief Executive Officer of CARS. “The acquisition of this scalable technology supports our vision of creating frictionless omni-channel experiences and further growing our platform capabilities for buyers and sellers, building on our competitive advantage and delivering additional value to our shareholders.”

Dealers gain access to CreditIQ’s advanced digital financing technology, which facilitates the completion of the finance process online across the CARS platform via Dealer Inspire’s (“DI”) 5,200 websites, its digital retailing platform “Online Shopper,” and the Cars.com marketplace. Dealers benefit from improved efficiency, increased profits Per Vehicle Retail (PVR), greater lead conversion, and deeper attribution data and insights. In addition, the technology offers automated lender decisions from dealers’ preferred lender networks, a differentiator in the market specific to the CreditIQ offering. 

The tens of millions of high-intent, in-market car shoppers who visit the CARS platform each quarter -- 142MM visits at Cars.com and an additional 247MM visits across DI dealer websites -- will take advantage of the new interactive online loan screening and approval marketplace, providing instant finance offers and enabling a complete buying transaction from the comfort of their home. In addition, lenders will get access to a large audience of in-market auto shoppers. The technology is expected to  be integrated across the CARS platform in the first quarter of 2022. CARS will monetize the platform upon rollout, generating revenue directly from lenders on a per-transaction basis.

CreditIQ has also built a Lending-as-a-Service (LaaS) framework that enables dealers, marketplaces, OEMs and automotive software providers to use the same advanced fintech capabilities.

Founded in 2014 by automotive and lending software experts Bill Liatsis, Anthony Liatsis, and Bill Gerhard, CreditIQ is headquartered in New York and develops digital retail financing technology designed to facilitate online car sales and streamline in-store processes for auto dealers. Said Bill Liatsis, CEO of CreditIQ, “CreditIQ’s technology was created to help dealers be more efficient and profitable. We are excited to join forces with a company who shares our dealer-centric approach, helping local retailers better compete by the use of better technology. Integrating with the CARS connected platform allows us to continue to equip a much broader audience of consumers, dealers and lenders to be successful in the growing digital financing sector.”

ABOUT CARS.COM INC.

CARS is a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions that connect car shoppers with sellers. Launched in 1998 with the flagship marketplace Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS properties includes Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. Forward-looking statements include information concerning the Company’s industry, Dealer Customers, results of operations, business strategies, plans and objectives, market potential, outlook, trends, future financial performance, planned operational and product improvements, potential strategic transactions, including the proposed acquisition and integration of CreditIQ, and other matters and involve known and unknown risks that are difficult to predict. As a result, the Company’s actual financial results, performance, achievements, strategic actions or prospects, including the expected benefits of the acquisition of CreditIQ may differ materially from those expressed or implied by these forward-looking statements. These statements often include words such as "believe," "expect," "project," "anticipate," "outlook," "intend," "strategy," "plan," "estimate," "target," "seek," "will," "may," "would," "should," "could," "forecasts," "mission," "strive," "more," "goal" or similar expressions. Forward-looking statements are based on the Company’s current expectations, beliefs, strategies, estimates, projections and assumptions, based on its experience in the industry as well as the Company’s perceptions of historical trends, current conditions, expected future developments, current developments regarding the COVID-19 pandemic and other factors the Company thinks are appropriate. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. These statements are expressed in good faith and the Company believes these judgments are reasonable. However, you should understand that these statements are not guarantees of strategic action, performance or results. The Company’s actual results and strategic actions could differ materially from those expressed in the forward-looking statements. Given these uncertainties, forward-looking statements should not be relied on in making investment decisions. Comparisons of results between current and prior periods are not intended to express any future trends, or indications of future performance, unless expressed as such, and should only be viewed as historical data. Whether or not any such forward-looking statement is in fact achieved will depend on future events, some of which are beyond the Company’s control.

Forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause its actual results and strategic actions to differ materially from those expressed in the forward-looking statements contained in this press release. For a detailed discussion of many of these and other risks and uncertainties, see the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and its other filings with the Securities and Exchange Commission, available on the Company’s website at investor.cars.com or via EDGAR at www.sec.gov. All forward-looking statements contained in this press release are qualified by these cautionary statements. You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties. The forward-looking statements contained in this press release are based only on information currently available to the Company and speak only as of the date of this press release. The Company undertakes no obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise.

The forward-looking statements in this report are intended to be subject to the safe harbor protection provided by the federal securities laws.

More Than Half of Parents Surveyed by Cars.com Have Incorrectly Installed a Car Seat, While 67% Make Vehicle Purchase Decisions Based on Car Seat Fit

CHICAGO, Sept. 27, 2021 — Leading car shopping marketplace Cars.com (NYSE: CARS) today released its 2021 Car Seat Fit Report Card, providing parents and caregivers with essential information on which family vehicles best fit car seats for infants, toddlers and young children. This year, Cars.com compiled Car Seat Check scores for 51 vehicles evaluated over the last year by Cars.com’s certified child-passenger safety technicians.2 Cars.com assigned a letter grade to each of the 2021-22 vehicles evaluated. To view the complete list, visit Cars.com/news/car-seat-check. 

Of the 51 vehicles evaluated, only four made the Honor Roll, achieving straight A’s in their Cars.com Car Seat Checks:

●        2021 Nissan Sentra

●        2021 Genesis GV80

●        2021 Audi SQ8

●        2022 Hyundai Tucson Hybrid

According to a national Cars.com survey, 56% of parents stated they have installed a car seat incorrectly, while 84% of parents find some level of the process ‘frustrating.’1 Cars.com’s Car Seat Fit Report Card, which compiles a year’s worth of comprehensive Car Seat Checks conducted by Cars.com’s team of experts, aims to reduce some of the stress involved with car seat installation and selecting the best family vehicle. 

“When it comes to shopping for a new vehicle, our data show that for more than two-thirds of parents, car seats play a significant role in their purchase decision,” said Jenni Newman, editor-in-chief at Cars.com and certified child-passenger safety technician. “I’ve evaluated more than 600 vehicles in my career, and there’s no doubt about it: Some cars are just better made to properly and safely fit a car seat. With all the stress and confusion that comes with car seat installation —- especially for new parents — it’s so important that families do their homework and select a vehicle that not only works for their needs right now, but also one that grows with their family.”

Making the Grade

Each Car Seat Check is performed by a Cars.com certified child-passenger safety technician who installs three types of car seats — infant, convertible and booster — into each new vehicle and evaluates the vehicle’s Latch system, as well as how the vehicle accommodates the different car seats. The Latch system is a set of lower anchors and top tether anchors that’s supposed to make car seat installation easier, but that’s not always the case. To earn an “A” grade, a vehicle must show it has plenty of room for the car seat and the child, without impacting legroom for the driver or front passenger. Vehicles must also demonstrate their Latch system is easy to find and use (without any fit issues), in order to show it’s car-seat-friendly.

“Our research shows that the majority of consumers (80%1) consider child safety features to be very important in guiding their vehicle purchase, and I don’t blame them,” said Newman, a mother of two. “Automakers continue to improve in-car safety technology features and well-appointed Latch systems. Our Car Seat Fit Report Card and ongoing Car Seat Checks help to alleviate some of the stress and anxiety parents face by highlighting the vehicles that offer the most peace of mind,” said Newman.

To learn more about how Cars.com performs its Car Seat Checks, or to see how well a car seat will fit in your family vehicle or a vehicle you are considering purchasing, visit www.cars.com/news/car-seat-check.

1 Cars.com survey conducted Aug. 27, 2021; 1,030 responses.

2 Car seat certified by Safe Kids, certifying body partner of the National Child Passenger Safety Board

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

###

Almost 1 in 4 Travelers to Change Destination; 87% of Travelers Take to the Road  

CHICAGO, Aug. 25, 2021 — Even with the delta variant increasing COVID-19 cases across the country, Americans remain determined to get out this upcoming Labor Day 2021 weekend. Sixty percent of Americans plan to travel, up 17% compared to last year at this time, according to a national survey from Cars.comTM (NYSE: CARS), a leading digital automotive marketplace and solutions provider.1 Of those who planned to take to the skies, more than 20% canceled their flights and are driving instead due to rising concerns.2 

The majority of travelers (62%) state they are concerned about the delta variant while traveling, with nearly 1 in 4 (24%) stating they have changed their destination due to an uptick of COVID-19 cases in a particular area. For those who changed their travel location, most were planning to travel to Florida.1

“This year has undoubtedly been the summer of the road trip, and it’s clear the trend is here to stay as 87% of Labor Day travelers plan to hit the road this upcoming holiday weekend,” said Aaron Bragman, Cars.com’s Detroit bureau chief. "Recent concerns about the delta variant has travelers changing both where and how they travel. Paired with airline cancellations, more people are opting for their personal vehicles as the safest and most reliable mode of transportation."

Additional insights revealed by Cars.com’s survey on Labor Day travel include:

• Going, going, gone. The majority of those surveyed plan to travel farther than they did for Labor Day last year (63%), with nearly the same amount (62%) planning trips more than 50 miles away from home. 

• Travelers linger longer. Fifty-nine percent of travelers plan to be away for the entire weekend or longer, up 10% compared to Fourth of July weekend. 

• Vaccine cards in-hand. More than 54% of those planning to travel are fully vaccinated, with 7% still in the process and 9% planning to get their shots before they leave; approximately 19% plan to travel unvaccinated. 

• No place like home. For those not traveling, 56% say COVID-19 has impacted their decision, a 30% increase compared to Fourth of July weekend.

“Despite the majority of vacationers reporting full or partial vaccination status, we still recommend that anyone traveling for Labor Day weekend follow the guidelines outlined by the Centers for Disease Control and Prevention and make sure they are monitoring case counts in the locations they plan to visit,” added Bragman. 

To learn more about the recent Labor Day survey, great deals and other car-buying tips and tricks, please visit Cars.com/news. 

1Cars.com’s survey results July 30, 2021; 1,014 responses
2Cars.com’s survey results Aug. 13-16, 2021; 8,619 responses

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

 ###

With 67% of Students Returning to Full-Time, In-Person Learning This Year and Concerns High About the Delta Variant, Cars.com Offers Five Tips for a Safe and Successful School Drop-Off

CHICAGO, August 19, 2021 — Cars.com (NYSE: CARS), a leading digital automotive marketplace and solutions provider, finds that 67% of parents in a recent national survey conducted by Cars.com say they will send their kids to in-person school in the fall, compared to just 39% in 2020. For those returning to the classroom, school buses and public transit continue to take a backseat as many parents opt to transport their children to school by car, citing COVID-19 concerns as the primary decision driver. 

“While many parents are eager for the return of in-person learning this fall, nearly 90% are concerned about the delta variant and, as a result, are choosing different modes of transportation for their school-aged children,” said Jenni Newman, editor-in-chief for Cars.com and mom of two boys. “It’s not surprising that parents are prioritizing health and safety, and by driving their kids themselves, parents feel they can better protect their family — even if it means longer drop-off lines or for many, a disruption to their family’s daily routine.”

Compared to the 54% of parents who will drive kids to school themselves this fall, 38% plan to send their kids on the school bus, 12% will walk, 9% are part of a carpool and 7% will use public transit. For the parents who previously took advantage of the school bus, 55% cite COVID-19 as the main driver in their decision to find alternative transportation, and nearly a quarter of respondents are using their personal vehicles even though it negatively impacts their daily routine.

For those planning to carpool or send their children on public transit, 78% of respondents/parents will sanitize their car and use hand sanitizer, up from 68% in 2020.

• -69% will wear masks, down from 79% in 2020.

• -27% will travel with fewer people in the car, compared to 50% who said the same in 2020.
   

As parents plan for the start of school — whether they are driving their own children or carpooling with neighbors — Newman shares the following top vehicle features to ensure a safe ride this school season:

• -Consider vehicles with captain’s seats — keep them separated, such as in the 2022 Nissan Pathfinder. 
• -Embrace hands-free sliding doors so passengers don’t have to touch the handle like the one found in Cars.com’s best minivan for 2021, the 2022 Kia Carnival.
• -Look for cars with ample storage so that you can keep a small cleanliness kit next to each seat like the 2021 Honda Odyssey, which ran away with this category in the 2021 Minivan Challenge.

To find and connect with a local dealer to sell your car or get more carpooling tips, visit Cars.com. 

1 Cars.com survey conducted July 28, 2021; 1,050 responses.

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

###

Of the 44% of Car Shoppers Who Plan to Purchase This July Fourth Weekend, More Than Half Intend to Buy U.S.-Based Brands

CHICAGO, June 30, 2021 — Leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS) found that 44% of in-market car shoppers plan to buy this July Fourth weekend. Of those shoppers, 53% intend to buy a U.S.-based vehicle.1

"As the pandemic threat subsides, we're seeing interesting ripple effects,” said Kelsey Mays, Cars.com consumer news editor. “There is an inventory shortage driving people long distances to find their desired vehicle; a resurgence of vacations with more domestic travel by car; and the normalization of in-person shopping with a continued focus on 'buying local' to support the American economy.”

July Fourth Deals on the Most American-Made Vehicles

Cars.com recently released its 2021 American-Made Index (AMI), which features 90 cars that contribute most to the U.S. economy based on criteria ranging from U.S. factory jobs and manufacturing plants to parts sourcing. The index gives shoppers information to purchase the most American-made vehicles and direct their economic impact closer to home. Incentives for some of the top vehicles on the 2021 AMI include:

Honda Passport. One of four Honda models in the AMI’s top 10, the Alabama-built Passport SUV ranks No. 9 on this year's list. Rare for Honda, the Passport comes with a $1,250 cash discount down payment or lease assistance. Alternatively, creditworthy shoppers can get 0% financing for 36 months from Honda’s financing arm. 

-Factory discount: $1,250

-Approximate price after savings: $32,500 to $48,500

-Approximate factory savings: 3-4%

-Offer ends: July 6

•  

• 
  Hyundai Sonata. The Alabama-built mid-size sedan landed at No. 39 on the AMI list, and Hyundai is currently offering $1,500 to $2,000 off in most markets, depending on trim level. Shoppers who finance at standard rates through Hyundai can get another $500 off in most regions. Alternatively, creditworthy shoppers can get 0% financing for 60 months plus $1,000 bonus cash and in some regions, deferred payments for the first 90 days on a variety of Sonata trims. Offers in most regions exclude the Sonata N Line. Cars.com data shows the Hyundai Sonata is averaging 95 days on dealer lots, meaning shoppers should find a good supply of this mid-size sedan. 

-Factory discount: $1,500 to $2,000 in most areas, excluding financing bonuses

-Approximate price after savings: $23,500 to $33,500 in most areas

-Approximate factory savings: 5-7% in most areas

-Offer ends: July 6
 

• Toyota Avalon. Assembled in Georgetown, Ky., Toyota’s full-size sedan sees $1,500 to $2,000 off in most areas, though some deals require shoppers to finance at standard rates through Toyota. In most areas, shoppers who finance or lease their Avalon can also get another $1,000, although some areas restrict the bonus to select trims. Alternatively, creditworthy shoppers can get 0.9% financing for 60 months in most regions, though a few areas have higher rates or no offers at all. 

-Factory discount: $1,500 to $2,000 in most areas, excluding financing bonuses

-Approximate price after savings: $35,000 to $44,500

-Approximate factory savings: 3-5%

-Offer ends: July 6

Americans Take to the Road en Masse This Independence Day Weekend

As some Americans look to buy cars, many others plan to get out of town. In fact, 59% anticipate traveling this weekend (up from 56% for July Fourth in 2020), and of that group, 90% plan to travel by car.2 As vaccinations continue to roll out and pandemic restrictions roll back, 62% of travelers plan to get as far away from their house as possible. Of all survey respondents, 56% reported being fully vaccinated2, up from 40% just before Memorial Day weekend.3  

To learn more about the recent Fourth of July survey, great deals and other car-buying tips, please visit Cars.com. For more on the 2021 AMI, please visit Cars.com/american-made-index/.

1 Cars.com survey conducted June 24-25, 2021; 1,013 responses.
2 Cars.com survey conducted June 23, 2021; 1,013 responses.
3 Cars.com’s survey conducted May 8-11, 2021; 1,365 responses

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

###

Online Car-Shopping Marketplace Launches Fresh, New Look and Features to 26 Million Monthly Visitors and Nearly 20,000 Local Dealers

CHICAGO, June 28, 2021 — Cars.comTM (NYSE: CARS), a leading digital automotive marketplace and solutions provider, today announced a transformed online platform and mobile app for its 26 million monthly unique users¹. The new site offers load times up to 87%² faster and real-time inventory updates of over 50,000 cars added to the site daily³ — an especially important feature in today’s car-inventory-starved environment. The upgraded Cars.com, built on cloud-based technology, now delivers a more streamlined and dynamic experience for both car shoppers and sellers.

“The new Cars.com enables a more personalized and contextually relevant car-shopping and selling experience,” said Brooke Skinner Ricketts, chief experience officer for Cars.com. “The new site experience accelerates the car-shopping process for consumers and, importantly, unlocks the ability to more quickly innovate and bring new, industry-leading features and solutions to Cars.com that exceed the rapidly changing digital car-buying expectations from consumers and local dealers.”

The new platform was created as a launchpad of innovation and implemented with a crisp, modern design that easily helps shoppers find the right car at the right dealership. Cars.com already has millions of new and used car listings, comprehensive editorial content, over 10 million dealer and expert reviews, and nearly 20,000 local dealerships to choose from. The company’s updated site experience builds on its wealth of content and offers even more advanced tools, interactive features and personalized content combined with a vibrant, intuitive and accelerated path to purchase.

50,000 Cars Added Daily

More than 50,000 new and used cars are added daily to the new Cars.com and updated in real time³, ensuring shoppers see the newest, widest range of vehicles from Cars.com’s network of local dealers across the country. Consumers will find this especially valuable amidst the latest automotive inventory shortage.

Smarter Car Matchmaking 

More than 70% of shoppers are undecided about which make or model they want when they first log on to Cars.com⁴. The decision-making process is now easier with an improved Matchmaking 2.0 tool that includes enhanced filters that give undecided buyers the freedom to start with what they know they want — technology, safety features, trunk space, roominess, gas mileage — and follow intuitive prompts, narrowing the search to the perfect, personalized car match. 

One-Click Chat Connection to Nearly 20,000 Dealers Nationwide

Cars.com now incorporates new technology to facilitate one-click live video chat functionality, connecting site visitors live to one of Cars.com’s nearly 20,000 local dealers within seconds. Dealers can give consumers a virtual video walk around the vehicle and talk specifics including trade-in information and special dealership offers. 

Personalized, Relevant Car-Shopping Content

The new Cars.com offers a greater personalized experience for each shopper that includes search-based curated research, original editorial content, price alerts and real-time vehicle valuations, empowering car shoppers to make well-informed decisions that become more curated to each user on subsequent visits.  

The Best Dealers, Rated by Users

Cars.com has amassed over 10 million reviews providing real-time insights from actual shoppers helping spotlight the best dealerships and individual salespeople to buy cars from nationwide, making Cars.com the broadest and largest automotive review platform. 

A brand name synonymous with car shopping, the No. 1 app in the category⁵ and the most organically sought after editorial expertise, Cars.com has been the authority for car shopping and selling for nearly a quarter of a century. Over the past year, even more virtual buying options were launched on Cars.com — including Home Delivery — giving car shoppers the option of having millions of cars delivered straight to their driveway from local dealerships across the country. 

In addition to the new Matchmaking 2.0 feature, the site also continues to offer a multitude of features to help anyone find their perfect vehicle match on Cars.com, such as Hot Car, a technology that offers highly curated indicators to let shoppers know when a car is going to sell fast so consumers don’t miss out on the vehicle they want, and Best Match, a sorting feature that gives shoppers personalized and relevant vehicle search recommendations.

¹ Internal Cars.com Data, January-March 2021
² Internal Cars.com Data, June 18, 2021, *Page visibly loads up to 87% faster, with a sitewide average of 60%
³ Internal Cars.com Data, January -June 14,2021
⁴ Cars.com Consumer Metrics Study, Q1 2021
⁵ No. 1 app in Monthly Active Users, App Annie, February 2021

About CARS

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources, and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn, and gain market share.

In addition to Cars.com, CARS companies include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences, FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com’s pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS properties include Cars.com™, Dealer Inspire®, DealerRater®, FUEL™, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

Detroit Three, Honda, Toyota Also Top 2021 Index, With GM Claiming the Most Spots

 Americans Care Where Their Cars Are Made, Buying Non-American Considered “Unpatriotic” by More than a Quarter of Americans 

CHICAGO, June 23, 2021 — Leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS) today released its 2021 American-Made Index (AMI), an independent, annual list that ranks the new vehicles that contribute most to the U.S. economy based on criteria ranging from U.S. factory jobs and manufacturing plants to parts sourcing. The No. 1 most American-made vehicle for 2021 is the Tesla Model 3. This is the first time Tesla has topped the list, and also the first time an all-electric vehicle has come in at No. 1. To view the complete list, visit www.cars.com/ami. 

“Tesla has now cemented itself firmly on Cars.com’s American Made-Index, with the Model 3 and the Model Y taking the No. 1 and No. 3 spots, respectively,” says Kelsey Mays, Cars.com assistant managing editor and the AMI’s lead researcher. "The 2021 AMI arrives against a backdrop of scarce inventory amid a microchip shortage and heightened consumer demand. Despite this, there remains a high consumer focus on buying American-made vehicles as the economy is still emerging from the effects of the pandemic. For those interested in making the biggest impact here, the index gives shoppers a way to purchase the most American-made vehicle." 

Top 10 on the 2021 Cars.com American-Made Index

Tesla tops the list in just its second year of participation; in 2020, three of the automaker’s models made the AMI top 10. Marking its first AMI top 10 appearance is the Michigan-built Ford Mustang, and Stellantis' Jeep Cherokee, assembled in northern Illinois, is in the top five once again. Additionally, four Honda nameplates are in the top 10, all built in Alabama. The Chevrolet Corvette and Toyota Tundra also hold top spots on the index this year. 

Out of 344 models on the market for 2021, a total of 90 models qualified for this year’s AMI. GM led the way with 19 cars on the index, followed by Honda (13), Toyota (12), and Ford (11). As it relates to body style, nearly 50% of the vehicles are SUVs, followed by sedans and/or hatchbacks models (28%) and pickup trucks (17%). 

Increased Importance on Buying American Made 

According to new research from Cars.com, 72% of shoppers consider a car's U.S. economic impact a significant or deciding factor in their vehicle purchase, up from 70% who indicated the same in 2020.¹ Even as the pandemic threat begins to wane, a third of respondents in 2021 still say COVID-19 has made them more likely to buy an American-built vehicle. Up from just a quarter of respondents in 2020, 29% this year say that it's "unpatriotic" to purchase a non-American-made vehicle.¹

Methodology 

Cars.com’s American-Made Index ranks cars based on five factors: assembly location, parts sourcing as determined by the American Automobile Labeling Act, U.S. factory employment relative to vehicle production, engine sourcing and transmission sourcing. 

For more information on the 2021 Cars.com American-Made Index, including a deeper dive into the data and methodology, visit www.cars.com/ami. 

1 Cars.com survey conducted June 10-14, 2021; 1,001 responses.

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

###

Car Supply Shortage Squeezes Sellers and Shoppers as Cars.com Finds Nearly 1 in 3 Recent Buyers Drove 100 Miles or More for the Car They Want1 

CHICAGO, June 10, 2021 — According to recent research from leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS), nearly 10% of recent car buyers drove out of state to purchase their desired vehicle, with more than half (52%) of those traveling 25 miles, nearly 20% traveling 50 miles and 13% of buyers traveling more than 250 miles to a dealership due to ongoing new- and used-car inventory shortages.1 

“With the current auto inventory challenges, recent car buyers are going to great lengths to find the car they want,” said Kelsey Mays, Cars.com assistant managing editor, news. “I don’t anticipate this trend slowing down, either. Of consumers currently in the market and shopping for a car, 65% said they would consider purchasing in another state.”

Additional insights from Cars.com’s recent national consumer survey include: 

• Buying and selling go hand in hand. Good news for used-car shoppers and dealers: Over half (53%) of those currently in the market to buy a car also plan to trade in their current vehicles to local dealerships, which are in need of more cars and, as a result, most are willing to pay a premium for new inventory.2

• Brand loyal. Shoppers are traveling the farthest distance for Chevrolet, Ford and Toyota car brands, with 57% of shoppers who purchased out of state buying a new car, while 43% drove the extra miles for a used car.1  

• Large cities, larger selection. Shoppers expanding their search radius should include larger cities because they have more inventory than their rural counterparts. The top markets with the most inventory listed on Cars.com include New York, Los Angeles, Chicago, Philadelphia and Dallas-Fort Worth.3 

• Delivered to your home. With tighter inventory, at-home delivery of vehicles and trading in vehicles from the driveway is growing in popularity. Cars.com has nearly 2 million vehicles available for home delivery from dealers across the country; shoppers only need to select the Home Delivery filter to see which dealers offer the service.3 

Mays added, “My advice to car shoppers is to expand your search radius to include larger, more urban markets when shopping on Cars.com and look for the Delivered to You tags next to vehicle listings on our site to find dealers who will, for a fee, ship a car right to your door.” 

To find and connect with a local dealer to sell your car, visit Cars.com. To learn more about buying a car out of state, visit Cars.com/News
 

1 Cars.com’s survey conducted May 18-24, 2021; 17,119 responses

2 Cars.com’s survey conducted May 25-28, 2021; 2,608 responses

3 Cars.com internal data

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

 ###

As inventory levels fall 33% for new and 28% for used cars, local dealers are paying consumers more for their used trade-in vehicles.1

CHICAGO, May 26, 2021 — Car shoppers are ready to take advantage of Memorial Day weekend deals — if they can find them, according to recent research from leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS). However, shoppers may have better luck selling their vehicle to a local car dealership. With vehicle inventory levels falling, the demand for used cars is up, giving consumers a prime opportunity to get substantially more for their current vehicle given used-car list prices have increased 14% since January.2

“Memorial Day weekend is traditionally a very active car-shopping holiday with significant discounts offered across the industry, but the global chip shortage and huge consumer demand continues to impact both new and used dealer inventory,” said Kelsey Mays, Cars.com’s assistant managing editor. “A few attractive deals still exist this holiday among the more than 2 million cars for sale on Cars.com, but now is a prime time for consumers with a little-used extra vehicle sitting in their garage to cash in, as most dealers are relying on trade-ins to maintain their stock.”

Despite new-car list prices increasing by more than 5% since January - April and used-car prices up 14%,2 more than half of shoppers (51%) in Cars.com’s recent national survey say they are willing to pay more this holiday weekend to find the car they want.3

“Buyers with a car to trade in may find some relief from its inflated residual value, which can help take the sting out of a higher-priced replacement vehicle,” Mays said. “That’s especially true if the trade-in is less than 4 years old, a group with the highest dealer-reported shortages. If shopping for a specific model, consumers should expand their search radius on Cars.com to include surrounding ZIP codes, including urban areas. Our dealer surveys suggest urban dealerships in particular may have more inventory in stock.”

Cars.com’s Memorial Day car-buying survey also found:

• Inventory lags buyer demand. Because of current inventory shortages on dealer lots, nearly 40% of shoppers have had trouble finding the car they want.3

• Shoppers want new cars. Most shoppers (61%) plan to buy new, while 24% plan to buy used; 8% want CPO and 8% are undecided.3

• Rooting for U.S. roots. A good portion of car shoppers (48%) plan to buy from brands with historically U.S. roots like Chevrolet, GMC, Ford, Jeep, Chrysler and Tesla.3

• SUVs reign, but sedans are still popular. Most car shoppers (37%) plan to buy an SUV, followed by a close second of 30% planning to buy a sedan and 11% buying a pickup truck.3

• Nearly half of holiday shoppers are considering electric or hybrid. While 45% of shoppers plan to buy a gas-only vehicle, almost the same number (44%) are considering a hybrid, plug-in hybrid or EV model.3 

• Holiday deals are slim but meaningful. While there aren’t as many as in years past, there are still some deals to be had, though they’re muted. Cars.com’s top 2021 Memorial Day deals include discounts on select trims of the Chevrolet Silverado 1500 and Toyota Camry and Corolla. 

To find and connect with a local dealer to sell your car, visit Cars.com. 

1 Cars.com’s dealer survey conducted May 4-11, 2021; 429 dealer responses

2 Cars.com internal data

3 Cars.com’s survey conducted May 14-17, 2021; 1,012 responses

About Cars.com

CARS is a leading digital marketplace and solutions provider for the automotive industry that connects car shoppers with sellers. Launched in 1998 with the flagship marketplace site Cars.com and headquartered in Chicago, the Company empowers shoppers with the data, resources and digital tools needed to make informed buying decisions and seamlessly connect with automotive retailers. In a rapidly changing market, CARS enables dealerships and OEMs with innovative technical solutions and data-driven intelligence to better reach and influence ready-to-buy shoppers, increase inventory turn and gain market share.

In addition to Cars.com, CARS brands include Dealer Inspire, a technology provider building solutions that future-proof dealerships with more efficient operations and connected digital experiences; FUEL, which gives dealers and OEMs the opportunity to harness the untapped power of digital video by leveraging Cars.com's pure audience of in-market car shoppers, and DealerRater, a leading car dealer review and reputation management platform.

The full suite of CARS brands include Cars.com™, Dealer Inspire®, FUEL™, DealerRater®, Auto.com™, PickupTrucks.com™ and NewCars.com®. For more information, visit www.Cars.com.

###