Auto industry veteran with strong connection to dealership communities

CHICAGO, April 13, 2021 – Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading digital automotive marketplace and solutions provider, today announced the appointment of Jenell Ross as a member of its Board of Directors.

Ross is an auto industry veteran, with 28 years of experience, and was recently named one of 2020’s 100 Leading Women in the North American Auto Industry by Automotive News. For the past eleven years, she has been President of Bob Ross Auto Group, a family-owned, Ohio-based Buick-GMC and Mercedes-Benz dealership. Bob Ross Auto Group was the first African American owned Mercedes-Benz dealer in the U.S. and, today, Ross is the country’s only second-generation African American female auto dealer. Under her leadership tenure Bob Ross Auto Group has ranked as a leader in sales and customer service for each of its three brands.

Ross is a member of the board of directors at Hub Group (NASDAQ: HUBG), a leading North American supply chain solutions company, and recently served on the board of the Federal Reserve Bank of Cleveland, Cincinnati branch. She also serves on the board of trustees for the University of Dayton and the Will Allen Foundation.

She is a board member for the Minority Business Partnership through the Dayton Chamber of Commerce, as well as an active member of both the Dayton Area Automobile Dealers Association and the Ohio Auto Dealers Association. Ross previously served as the chair of the American International Automobile Dealers Association as the first minority and the second female to lead this organization of nearly 10,000 dealers. Ross is also passionate about giving back. Ross started a charity to honor her late mother, The Norma J. Ross Memorial Foundation, which supports youth in education and the arts and raises funds in the fight against breast cancer.

“Jenell brings valuable insights to the Board through her years of leadership in the automotive industry and the public, civic, and charity boards on which she is involved. Her real-world experience as a successful dealer owner-operator further enhances the perspectives of our Board,” said Scott E. Forbes, Chairman of the Board of CARS.

“I am pleased to join CARS in support of their quest for category leadership,” said Ross. “I look forward to contributing a dealer’s perspective as I work with the Board and management team to help the CARS platform generate meaningful sales and efficiencies for our industry through innovation.”

 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.

One Year Into the COVID-19 Pandemic, Purchasing Timelines Are Faster, First-Time and Urban Car Buyers Increased, and New and Used Prices Inch Higher

CHICAGO, March 10, 2021 — One year from the start of a historic worldwide pandemic that changed commerce and transportation, maybe permanently, leading automotive digital marketplace and solutions provider Cars.com Inc. (NYSE: CARS) today unveiled new insights about the pandemic's impact on car buying and selling. Shoppers logged a record 30 million hours on Cars.com over the last year as the stay-at-home economy took hold, representing a 9% increase since March 2020.1  There were also significant jumps in first-time and urban buyers entering the auto market, reflecting a shift away from public or shared transportation and a heightened demand for the freedom and security provided by car ownership. 

More Americans are prioritizing car ownership. A Cars.com national survey of over 1,500 online respondents revealed that 36% of those who purchased a new or used car since March 2020 were first-time car buyers. This trend is accompanied by accelerated purchasing timelines, growing demand for technology and safety features, and an average price increase for new and used vehicles.2 

“One year ago, our world changed as we shifted to digital-first and faced significant transformations in work, travel and commerce. Americans quarantined in their homes found a new appreciation for their cars, which offered a much needed, safe escape and an extension of home during uncertain times,” said Alex Vetter, CEO of Cars.com Inc. “As the U.S. begins to open up, the durable trends we have witnessed in car shopping and selling over the last year will shape the future of automotive and ensure a strong retail environment in 2021. Our next normal demands convenient virtual experiences, online car-buying options and local home delivery.” 

Cars.com tracked COVID-19’s impact on car shopping and selling since last March, observing the following significant consumer shifts:

Pandemic continues to advance purchasing timelines: Cars.com found nearly 60% of car buyers reported the pandemic influenced their decision to purchase a vehicle, with more than 50% buying sooner than originally planned.2  

Local dealers will bring it to you: At-home delivery and virtual services by local dealerships skyrocketed over the last year. Since the pandemic started, 20 million vehicles listed on Cars.com have been available for contactless, local home delivery.1

Urban car owners take the wheel: In the past year, 38% of car buyers were in urban areas, where the pandemic accelerated car ownership even further; 3 out of 4 city dwellers cited the pandemic as influencing their decision to buy. Urban buyers were also three times more likely to buy an EV than their suburban counterparts.2

New or used, cars are selling faster, and for more: Increased demand, supply challenges and a global chip shortage led to rising prices for consumers. New-vehicle average prices rose 4.8% year over year and notably sold 22 days faster on Cars.com compared to pre-pandemic. Used-vehicle average prices increased 9.7% year over year and sold five days faster on Cars.com from the same period a year ago.1 

Tech, safety and versatility are increasingly important: Americans chose to drive more frequently and longer distances; at the same time, cars became extensions of homes and offices. Predictably, shoppers sought features that would provide more comfort, connection and peace of mind. The following features saw the largest upticks in 2020 searches1:

-Tow Hitch +55.4% YoY

-Cooled Seats +36.3% YoY

-Heated Steering Wheel +34.0% YoY

-Apple CarPlay/Android Auto +24.3% YoY

-Rear Cross-Traffic Alert +116.5% YoY

For more information about 2021 car-buying and selling trends, visit Cars.com/news/coronavirus/.

1 Cars.com Internal Data

2 Cars.com’s survey results Feb. 19, 2021; 1,510 respondents

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.

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‘It’s Matchical’ Spotlights the Extraordinary Intelligence Behind Cars.com’s Match of 20 Million Monthly Unique Shoppers, With 50,000 New Cars Added Daily.

The breadth and depth of its first-party data, paired with smart matchmaking technology, enables the Cars.com marketplace to successfully connect its more than 20 million monthly unique car shoppers with the vehicles that meet their needs, budgets and exceed their expectations. With 50,000 new and used cars added daily from local dealers across the country, car shoppers never miss the chance to find their perfect match on Cars.com.

“Cars.com has been creating car chemistry for nearly 25 years, and we’ve learned it’s both art and science that creates a lasting connection between Americans and their cars,” said Brooke Skinner Ricketts, chief experience officer at Cars.com. “We’ve seen car buying and selling transform toward virtual first at an incredible pace in the last year. Shoppers want a personalized experience that curates their choice based on data science and their personal preferences. Our combination of vast selection of fresh inventory with intelligence enables us to meet these demands like no other marketplace can.” 

"It's Matchical" is an evolution of the successful themes of Cars.com's 2018 "We Met on Cars.com" brand campaign, demonstrating the awe and confidence that results from intelligent curation. It’s more than magical, it’s matchical.

And while the grand reveal is the perfectly curated car match, the entire Cars.com experience is worthy of marvel. With industry-leading expert content and nearly 10 million consumer reviews, Cars.com's digital-first capabilities allow consumers to connect with local dealers through live video and online chat, experience the sights and sounds of a virtual test drive, and even select from millions of vehicles available for contactless, local home delivery.

“It’s Matchical” rolls out nationwide today with an integrated creative campaign across TV, connected TV, digital video, social media, display, radio and digital OOH. Its new TV spots, “Diner” and “Everywhere,” will be featured during the 2021 NCAA Division I Men's Basketball Tournament in March and will air nationally throughout 2021. 

Please visit the company’s YouTube channel to experience the Cars.com “It’s Matchical” campaign. 

Big Game Sees Half the Number of Automakers Advertising Compared to Last Year, Yet Car Shoppers Still Flock to Cars.com for Validation After Viewing Top Auto Commercials

GM’s Ad on Electric Vehicles Causes Triple Digit Surge to its EV Models on Cars.com, Prompts Overall EV Searches on the Marketplace to Increase 77% 

CHICAGO, Feb. 8, 2021 —  Besides Tampa Bay, this year’s big winner was Cadillac with its Edward-Scissorhands-inspired commercial that led to a 194% traffic bump to its respective branded pages on Cars.com™ (NYSE: CARS), a leading digital automotive marketplace and solutions provider.1 GM also saw triple-digit traffic increases to its EV pages on the marketplace while Jeep came in third place at a whopping 93% lift from car-shopping football fans. Overall, auto brands’ Big Game commercials drove a 38% average increase in Cars.com site pageviews as football fans multitasked during the game and sought the marketplace’s trusted third-party input to aid them on their shopping journey. 

“This year’s Big Game saw 50% less OEM advertisers compared to last year, likely due to overall sports viewership down all season,” said Brooke Skinner Ricketts, chief experience officer of Cars.com. “Some automakers favored more targeted, efficient digital media advertising on Cars.com around the Big Game to better reach the millions of active car shoppers who choose our marketplace as a critical destination to research, read reviews and connect with local dealers. As automotive brands continue to focus on this valuable in-market shopper audience, Cars.com is a leading platform for marketers who prioritize impact and efficiency.”

For those brands that opted for a big ticket TV commercial during the game, some ads sparked more action from car shoppers than others. When Will Ferrell portrayed holding a grudge against Norway for the country’s electric vehicle adoption in GM’s comedic commercial, Cars.com saw a 169% increase in consumers flocking to GM’s EV pages to discover more about the automaker’s EV models. In addition, the commercial triggered a 77% increase in total EV searches on Cars.com during the game and a 41% increase for used Hummers. 

Visits to other featured brands’ pages peaked, too:

-93% - Jeep’s ‘The Middle’ featuring Bruce Springsteen 

-13% - Toyota’s Jessica Long story 

-157% - Ford Mach-E, aired in select local markets

Cars.com analyzed site traffic patterns to advertised car model pages during the eight minutes before each spot aired and again eight minutes after.

For more reviews, car-buying advice and tips, visit Cars.com/news.

1Cars.com Internal Data

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.

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More than one million reviewers have spoken: winning dealerships prioritize what shoppers value most - digital-first services, high engagement, and Covid-19 safety precautions

WALTHAM, Mass., Jan. 26, 2021 — DealerRater, a leading car dealer review and reputation management platform and company of Cars.com Inc. (NYSE: CARS), today announced the winners of its annual Dealer of the Year Awards (DOTY). Award winners are recognized for their outstanding dealership experiences according to the more than one million reviews posted by car shoppers on DealerRater in 2020. See the full list of winners U.S. and Canada. 

“Delivering a customer experience that meets shifting shopper expectations — especially in today’s stay-at-home economy — is critical to a dealership’s success. And we saw overwhelmingly positive consumer reviews on our platform over the past year as dealers transformed into digital-first car sellers,” said Jamie Oldershaw, general manager of DealerRater. “Our Dealer of the Year Award winners represent local dealers across North America who strived for excellence in 2020 and leveraged their superior customer experience in the form of reviews as a differentiator to get ahead of the competition.”

Top-Reviewed Dealers Prioritized Digital-First Services and Covid-19 Safety Protocols 

Features such as online and video chat, at-home delivery and virtual walkarounds were significant drivers of positive reviews. Forty-eight percent of winning dealers were badged on Cars.com and DealerRater.com for Home Delivery and Virtual Appointment.1 

The Dealer of the Year Awards indicate the value car shoppers place on dealers’ adaptability to pandemic realities. Dealers who implemented Covid-19 health and safety protocols, such as masks, social distancing, and sanitization, received more positive reviews at a rate of nearly 30 to 1.2 

Strong Dealer Engagement and Review Response Rate Critical for Success

The digital engagement of employees at dealerships proved especially critical this past year as car shoppers conducted the bulk of their research and vehicle purchase online. A shared habit of recognized dealers is review response rate, with 80% of award-winning dealers responding to customers at double the average response rate.1 Dealers that go above and beyond traditionally respond within 24 hours. 

Additionally, about 75% of winners provide their staff with Employee Profile Pages on DealerRater, which allows car shoppers to ask questions and connect with individual salespeople at a dealership before ever stepping on the lot.1

DealerRater Dealer of the Year and Consumer Satisfaction Award Methodology 

The DealerRater Dealer of the Year Awards are presented annually to the top U.S. and Canadian car dealers with 25 or more reviews based on categories such as customer service, quality of work, friendliness, pricing and overall experience, key drivers of repeat and referral business. The scoring algorithm considers the dealership’s average DealerRater star rating as well as the total number of reviews written about the dealership during the 2020 calendar year.

Consumer Satisfaction Awards are given to the top 10% of U.S. new-car dealers as well as independent and Canadian dealerships that earn at least 25 reviews and maintain a minimum average review rating of 4.0 out of 5.0 during the 2020 calendar year.

Visit DealerRater.com for a full list of winners, U.S. and Canada. 

1 DealerRater Internal Data, January 2021

2 DealerRater Internal Data, October 2020

ABOUT DEALERRATER
DealerRater, a Cars.com company, is a leading car dealer review and reputation management platform that empowers dealerships to efficiently grow their brands by accelerating, automating and amplifying positive review generation across digital channels. By offering a product suite that allows qualified dealerships to manage their digital presence and build and maintain their online reputation, DealerRater helps dealers drive new customer connections every day, achieve higher SEO rankings and, ultimately, generate higher-quality leads that close, faster. 

Founded in 2002, DealerRater reviews cover 44,000 U.S. and Canadian dealerships, including a network of more than 5,000 Certified Dealers, that reaches an audience of more than 34 million consumers each month. 

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