Go Back

Building the World’s Most Trusted & Transparent Automotive Marketplace

CarGurus (Nasdaq: CARG) was founded in 2006 in Cambridge, Massachusetts by Langley Steinert, co-founder of TripAdvisor, who saw an opportunity to create a better car-shopping experience using technology and data analytics. In just over a decade, CarGurus has become the most visited automotive shopping site in the US1, with more car listings than any other major online automotive marketplace in the US.2 CarGurus also operates sites in Canada and the UK. CarGurus began trading on the Nasdaq Global Select Market in October 2017.

CarGurus

CarGurus

April 2023 Market Snapshot

June 10, 2023
irfan ullah

 
In the April 2023 Market Snapshot, Kevin Roberts, Director of Industry Analytics at CarGurus, discusses the latest trends in the used vehicle market. He highlights the improvement in used vehicle availability in April, with a 3.2% increase month over month, but notes that inventory is still down 12.5% compared to last year.

The tight inventory has led to price increases, but there are indications that we may be reaching a peak in used vehicle pricing, as wholesale prices start to slow down. This has implications for shoppers, as many consumers return to the market for the first time since COVID and find a different vehicle landscape. Shoppers are increasingly concerned about high prices and interest rates, and they seek more control over their financing experience.

Kevin emphasizes the importance of helping dealers understand the financing process and the reasons behind higher payments. Moving financing options online can provide shoppers with more visibility and be beneficial for both dealers and buyers. Stay informed about the latest trends in the used vehicle market with this insightful market snapshot.

Recent Episodes