New CarGurus research shows increasing buyer openness and excitement towards EVs

Posted by Meg Bernazzani on April 14, 2021

As electric vehicles (EVs) continue to gain popularity in Canada, this topic has taken on a heightened focus throughout the auto industry. In February, CarGurus surveyed 495 automobile owners in Canada to get a pulse on their sentiments towards EVs. Overall, 32% of respondents noted that they were probably or definitely likely to own an EV in the next five years — a number on par with US consumers (30%) but that lags behind UK consumers (44%). And while Tesla is the trusted leader in tech development, consumers are increasingly open to other brands when it comes time to go electric.

In this emerging space, buyers are excited by the possibilities and less brand loyal, so there are opportunities for more competitors to disrupt the market. For dealers, now is the time to get ahead of the demand curve and start having conversations about electric vehicles with prospective buyers.

Below we’ve highlighted three key dealer takeaways from the study. For a summary of the results, download the CarGurus 2021 Electric Vehicle Report here.

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Topics: CarGurus data, consumer insights, electric vehicles, EVs

Top Rated Dealer 2021: building trust and transparency through shopper reviews

Posted by Meg Bernazzani on April 13, 2021

It’s no secret that today’s shoppers use the internet to inform their purchases. With so many resources available, digital makes it easy to research makes and models and compare prices. But it’s not just about price: almost two-thirds (62%) of shoppers won’t contact a dealer before checking their reviews, according to a CarGurus consumer poll. That’s because reviews help validate the dealership experience and build a shopper’s trust with a dealer before ever setting foot on the lot.

Not only do reviews give shoppers the transparency they crave, helping them choose one dealership over another, but they also benefit you, the dealer. CarGurus dealers with a 4-star dealer rating or better see 129% more leads than dealers with a 1-star rating — that’s over 2x more leads for your dealership. Plus, a stellar reputation will help you earn the prestigious CarGurus Top Rated Dealer Award, which helps you bolster a cycle of trust and transparency between your dealership, existing customers, and in-market car shoppers.

Luckily, there’s a lot you can do to grow your reputation online. Here are some simple tips for managing your reputation and building trust in your dealership.

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Topics: reputation management, reviews, Top Rated Dealer, transparency

How to turn tax season into sales season for your dealership

Posted by Meg Bernazzani on March 30, 2021

Tax season has arrived, and this year’s round is going to be a weird one. Some people might be getting larger refunds than normal thanks to writing off home office expenses for the first time, while others may be more deeply affected by the pandemic and find themselves especially strapped. Meanwhile, business customers may have fleet updates on hold, or they may be about to receive a welcome reminder at tax time of the benefits of writing off their vehicles.

Here are a few ways that your dealership may be able to capitalize on tax season to bring customers through the doors who will drive more vehicles off the lot.

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Topics: best practices, sales, tax season

6 Ways to promote your Top Rated Dealer Award and bring in new customers

Posted by Meg Bernazzani on March 24, 2021

Congratulations to our Top Rated Dealers who are part of an exclusive group of CarGurus dealers with an average dealer rating of 4.5 stars or higher. Your award is the result of your commitment to customer satisfaction and the consistently great reviews you’ve received from the people who matter most: your customers.

You’ve put in the hard work to earn the award, now it’s time to put the award to work for your dealership. Here are our top tips for showcasing your achievement using the assets available to all winners on a premium listings package:

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Topics: Marketing tips, reviews, Top Rated Dealer

Announcing the 2021 Top Rated Dealer Awards

Posted by Meg Bernazzani on March 16, 2021

It’s that time of year again! Congratulations to all the dealers recognized as winners of the 5th annual CarGurus Top Rated Dealer Awards. This prestigious award celebrates an exclusive group of dealerships with the highest average ratings from CarGurus shoppers. Each dealer in this group had an average dealer rating of 4.5 stars or higher and at least four verified customer reviews in the last year, signifying their commitment to exceptional customer service.

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Topics: CarGurus news, Top Rated Dealer

Key sales segments to pay attention to in 2021

Posted by Meg Bernazzani on March 9, 2021

It was easy to predict that 2020 was going to be a challenging year for automotive sales. After an optimistic start in January and February following a 1.92-million-unit year in 2019, COVID-19 lockdown measures ravaged the industry through the second quarter. As a result, 2020 saw the second-largest year-over-year sales drop on record by landing at 1.55 million units, a difference of 20%.

In spite of this, there were bright spots and key takeaways among the handful of segments that performed better than the industry average last year. These up-and-coming segments, according to data from DesRosiers Automotive Consultants, highlight where consumer interest is headed and which important sales trends are worth monitoring as they roll over in 2021.

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Topics: sales segments

How to generate buzz for new models without auto shows

Posted by Meg Bernazzani on February 23, 2021

Auto shows have been part of new vehicle launch strategies for decades. But with Covid forcing the cancellation of live shows across Canada in 2021, generating buzz for this year’s new models is going to require some quick thinking and ingenuity.

Fortunately, there’s still time to execute some innovative ideas and get your customers excited about brands’ upcoming new vehicles. Here are some ideas to help you get the word out and to bring those customers through the doors and onto your sales floor.

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Topics: Marketing tips, promotion

WATCH: Discover how Clutch uses CarGurus to succeed in today’s shifting landscape

Posted by Meg Bernazzani on February 11, 2021

We caught up with our partners at Clutch to hear how CarGurus gives them a competitive edge in today’s rapidly changing landscape. In this short 2-minute video, Clutch’s Growth Marketing Manager Ben Steffler shares:

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Topics: Area Boost, customer success

6 Questions to ask when optimizing your dealership’s online presence

Posted by Meg Bernazzani on February 2, 2021

A dealership’s online presence is pivotal to attracting and retaining potential customers but waiting for business to come to you through a static website doesn’t let you realize your full potential. There are many more digital tools at a dealer’s disposal, and learning which methods are most effective and underused in your local market can give you a leg up on the competition.

Here are some questions that might help you think differently about how you’re reaching your customers online and give you some ideas for how to cultivate this increasingly important aspect of your business.

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Leadership changes at CarGurus: welcoming Jason Trevisan as CEO 

Posted by Jeremy Sacco on January 21, 2021

We’re happy to share that Jason Trevisan has been appointed CarGurus’ Chief Executive Officer. Trevisan, formerly our Chief Financial Officer and President of International, has been with CarGurus since 2015. Langley Steinert, our founder, will become Executive Chairman and remain involved in our long-term product innovation and corporate strategy. He will also continue to serve as Chairman of the Board of Directors.

Sam Zales will continue as President and COO, doing what he loves best: leading our commercial operations including sales, account management, customer service, and marketing, He’ll also resume oversight of CarGurus’ international business and lead the company’s new digital wholesale operations, including newly-acquired CarOffer.

Read more in the press release.

 

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