Earnings Season Shows Some Momentum for Online Car Platforms

For online car platforms, the road to profitability has been volatile and oftentimes elusive. “Inventory’s been lumpy, aging and — in the age of (still) high interest rates — tough to afford for many consumers, as the spate of recent earnings reports from the online...

CarGurus has been rolling out new artificial intelligence (AI) features to give both dealers and consumers the information they’re looking for. With these offerings, the digital platform for shopping, buying and selling new and used vehicles has improved engagement, delivered insights and increased efficiency, CarGurus...

Chase has joined CarGurus’ multilender financing platform, expanding options for consumers looking to prequalify for auto financing online. The bank joins Capital One, Global Lending Services and Westlake Financial as a participating lender on the online automotive platform, CarGurus said in a Monday (Jan. 29) press release. With over 70% of car shoppers wanting...

For the online car platforms that have promised to bring kicking the tires firmly into the digital age, profitability has been volatile, sometimes elusive.  Inventory’s been lumpy, aging and — in the age of (still) high interest rates — tough to afford for many consumers,...