A leading U.S. car shopping and research website has crossed the border as CarGurus Canada officially launched into the crowded market of online vehicle listings.
The site, founded by TripAdvisor co-founder Langley Steinert, analyzes how car listings stack up in a local marketplace and helps shoppers find deals at local dealerships.
CarGurus is currently the second largest auto shopping site in the U.S. by daily unique visitors, according to an April comScore report.
The company said it uses “mathematical models” to analyze and compare prices, specs and dealer ratings on millions of car listings every day, then ranks user search results according to which offer the best deals from the top-rated dealers in a designated area.
“Car shoppers want more transparency and efficiency as they research their purchase. We see tremendous opportunity in Canada to deliver on this promise with a model that is unique in the market,” said Steinert.
“As we've proven in the U.S., when the car shopping process is transparent, everybody benefits -- shoppers and dealers alike.”
CarGurus Canada features new and used car listings available from Canadian dealerships. The Canadian site is currently available in English, with a Canadian French version in development.
Shoppers can conduct searches at CarGurus' desktop or mobile sites and filter their search based on vehicle preferences and distance radius. They can also request automated inventory and price drop email alerts.
With every search a user conducts, CarGurus ranks results according to which offer the best deal and qualifies each deal as “great,” “good,” “fair,” or “overpriced.”
Rankings and deal ratings are determined by mathematical models which factor an Instant Market Value (IMV) for each car as well as dealership ratings submitted by the CarGurus shopper community.
IMV assessments are based on analysis of millions listings and take into account variables including year, make, model, trim, options, mileage, location and vehicle history. Organic search rankings on the site are strictly data-driven, providing consumers with an independent, unbiased view on how available listings compare.
CarGurus also helps dealerships connect with customers through programs that provide additional brand exposure and drive high-volume customer leads.
More than 7,000 car dealerships in the U.S. currently partner with CarGurus on such programs, with very high ROI. Canadian dealers wishing to activate their inventory on CarGurus and learn more about other advertising programs should call 1-888-997-2190.