“I didn’t think customers were going to buy a used car sight unseen. I really didn’t. I thought, there’s no way that’s going to happen. I’m happy to say I was wrong. And it’s not just a small trend, it’s a big trend.”
At last year’s Navigate conference, CarGurus founder and CEO Langley Steinert sat down with Bloomberg automotive reporter Kyle Stock for a fireside-style Q&A conversation. In this conversation, Langley spoke about the trends he’s seeing in the automotive market, the genesis of the original idea for CarGurus, and how his previous experience as the co-founder of TripAdvisor set the stage for CarGurus’ business. In this video, you’ll hear:
- How CarGurus’ early failures led the company to become the transparent marketplace it is today. [02:50]
- Which automotive innovations have surprised him and why buying a car online is a real trend that may not go away anytime soon. [24:13]
- The pivotal role that excellent customer experience has in how and where consumers buy a car. [29:00]
- Why the number one limiting factor for electric vehicle adoption is economies of scale. [35:40]
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Topics: CarGurus events, dealer, industry insights, Navigate, video