Cars.com says that with the new product, dealers, original equipment manufacturers and regional/dealer ad associations can pinpoint serious ready-to-buy shoppers and fight the high costs and inefficiencies of selling in what it describes as a crowded, fragmented media industry.
F&I product sales account for more than 50% of a dealership’s new and used vehicle gross profits according to NADA, yet traditional “end of the process” approaches to selling these products leave consumers feeling confused and pressured.
Management expects revenue between $156.5 million and $159.5 million for 2020, below analysts' estimates of $163.6 million. Management also expects 2020 earnings per share between $0.50 to $0.55 per share, well below analysts' estimates of $0.66 per share.
Dealerships that adopt CarGurus’ RPM will be able to extend their digital reach by targeting shoppers who visited their CarGurus vehicle description pages and also those that viewed similar vehicles on other CarGurus pages.