CarGurus introduces an AI-powered search experience for personalized car shopping, enhancing user engagement and decision-making.
Quiver AI Summary
CarGurus has launched an AI-powered search experience designed to enhance the car buying process for users on its platform. This new feature allows buyers to engage in conversational searches, leveraging real-time vehicle data to find, compare, and research both new and used cars more intuitively. The update aims to improve shopper confidence and efficiency by providing personalized search options based on individual needs, such as family size or budget constraints. CarGurus' VP of Product, Ben Kasdon, highlights that early users are spending more time on the site due to this interactive experience. The company continues to leverage AI and machine learning to foster trust and transparency in automotive shopping, solidifying its status as a leading digital auto platform in the U.S.
Potential Positives
- Introduction of AI-powered search experience enhances personalization and intuitiveness for car shoppers on CarGurus' platform.
- Early pilot users demonstrated strong engagement, indicating increased time spent on the site with the new AI features.
- The innovation supports CarGurus' mission of improving trust, transparency, and efficiency in the automotive shopping experience.
- The release highlights CarGurus' leadership as the most visited digital auto platform, further solidifying its competitive position in the market.
Potential Negatives
- The announcement focuses heavily on AI technology, which may raise concerns among consumers about the reliability and accuracy of AI-driven recommendations in a significant purchasing decision like buying a vehicle.
- Despite claiming strong engagement from early pilot users, the release lacks specific metrics or data to support the assertion, which may lead to skepticism regarding the effectiveness of the new AI-powered experience.
- While promoting innovation, the reliance on AI may imply a shift away from personal customer service, potentially alienating customers who prefer human interaction in the car-buying process.
FAQ
What is the new AI-powered search experience by CarGurus?
CarGurus has introduced an AI-driven search tool that personalizes car shopping through conversational search and real-time vehicle data.
How does the AI search improve car shopping?
The AI search allows users to ask questions using natural language, making it easier to find suitable vehicles based on personal needs.
Can buyers compare different vehicles using this new feature?
Yes, the AI-powered experience enables buyers to compare models and refine listings according to their preferences and location.
What kind of insights does CarGurus provide to dealers?
CarGurus offers dealers actionable insights and predictive analytics for informed decision-making related to pricing, inventory, and merchandising.
Where can I see the AI shopping experience in action?
You can visit www.cargurus.com/discover or watch a demo online to experience the AI shopping features firsthand.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CARG Insider Trading Activity
$CARG insiders have traded $CARG stock on the open market 163 times in the past 6 months. Of those trades, 0 have been purchases and 163 have been sales.
Here’s a breakdown of recent trading of $CARG stock by insiders over the last 6 months:
- LANGLEY STEINERT (Executive Chair) has made 0 purchases and 148 sales selling 1,486,618 shares for an estimated $49,956,286.
- SAMUEL ZALES (COO and President) has made 0 purchases and 6 sales selling 67,357 shares for an estimated $2,270,013.
- JAVIER ESQUIVEL ZAMORA (General Counsel and Secretary) sold 12,265 shares for an estimated $384,753
- ZACHARY EMERSON HALLOWELL (CEO, CarOffer) has made 0 purchases and 3 sales selling 8,607 shares for an estimated $296,606.
- DAFNA SARNOFF (Chief Marketing Officer) has made 0 purchases and 2 sales selling 7,204 shares for an estimated $212,442.
- ISMAIL ELSHAREEF (Chief Product Officer) sold 5,246 shares for an estimated $164,567
- ELISA PALAZZO (CFO and Treasurer) sold 3,973 shares for an estimated $126,857
- MATTHEW TODD QUINN (Chief Technology Officer) sold 4,393 shares for an estimated $125,771
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CARG Hedge Fund Activity
We have seen 155 institutional investors add shares of $CARG stock to their portfolio, and 193 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FOXHAVEN ASSET MANAGEMENT, LP removed 2,171,853 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $63,266,077
- UBS GROUP AG added 1,498,766 shares (+433.0%) to their portfolio in Q1 2025, for an estimated $43,659,053
- INVESCO LTD. added 1,242,076 shares (+340.5%) to their portfolio in Q1 2025, for an estimated $36,181,673
- AMERICAN CENTURY COMPANIES INC added 1,182,499 shares (+547.9%) to their portfolio in Q1 2025, for an estimated $34,446,195
- THRIVENT FINANCIAL FOR LUTHERANS removed 939,402 shares (-75.8%) from their portfolio in Q1 2025, for an estimated $27,364,780
- WELLINGTON MANAGEMENT GROUP LLP added 906,830 shares (+12.7%) to their portfolio in Q1 2025, for an estimated $26,415,957
- SUNRIVER MANAGEMENT LLC removed 880,753 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $25,656,334
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Intelligent search integration unlocks a more personalized and intuitive experience for drivers to discover their best deal with greater confidence
BOSTON, June 09, 2025 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles 1 , today announced the release of its AI-powered search experience . This innovation delivers a more personalized and intuitive car shopping experience, embedded directly into the CarGurus website. Buyers can now harness conversational search, paired with expert auto intelligence and real-time vehicle data, to research, compare, and shop the largest selection of new and used cars in the U.S. 2
“For nearly two decades, CarGurus has supported drivers through one of the biggest purchase decisions of their lives. This update aims to advance that mission even further, enabling them to shop in ways that weren’t possible before by having an open dialogue right on our site,” said Ben Kasdon, Vice President, Product at CarGurus. “No matter what phase of the journey they’re in, shoppers can now search on their own terms to uncover their best match more efficiently and with greater confidence. Early pilot users have shown strong engagement, with AI search users spending more time on site compared to typical site traffic.”
The AI-powered shopping experience allows consumers to use conversational language to find the best options for their needs, compare models, and refine listing results based on their location and preferences. The experience is designed to help buyers at any stage of their journey, from early research to final selection. As a shopper’s search journey evolves, they can also revisit their unique URL to continue the conversation.
Shoppers can discover their ideal car using intuitive prompts, such as the following examples:
- “I have three kids under 3. Help me find a car with high safety and reliability ratings.”
- “Show me the best cars with plenty of space for tall drivers.”
- “Show me reliable SUVs with blind spot monitoring under $30,000.”
- “Compare the best all-wheel drive vehicles for any terrain.”
This release is the latest chapter in CarGurus’ long history of leveraging AI and machine learning to bring more trust, transparency, and efficiency to car buying and selling. AI and machine learning underpin the platform’s vehicle recommendation engine, its Instant Market Value tool , and on-site merchandising. For dealers, CarGurus provides actionable insights and predictive analytics that enable more informed decision-making across workflows, from pricing and merchandising to inventory acquisition.
To see the AI shopping experience in action, visit: www.cargurus.com/discover or watch a demo here: https://cargur.us/1dB1cP .
About CarGurus, Inc.
CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. 1
CarGurus also operates online marketplaces under the CarGurus brand in Canada and the U.K. In the U.S. and the U.K., CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands.
To learn more about CarGurus, visit www.cargurus.com , and for more information about CarOffer, visit www.caroffer.com .
CarGurus ® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners.
1
Similarweb
: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.
2
Compared to Autotrader.com, Cars.com, TrueCar.com (YipitData as of December 31, 2024), and CarFax (Joreca as of December 31, 2024)
Media Contact:
Maggie Meluzio
Director, Public Relations & External Communications
[email protected]
Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de81b41e-d38e-4f9b-8aa7-09e4fe2655d7
