CarGurus Releases Eighth Annual Consumer Insights Report Highlighting Shifts in Automotive Shopping Preferences and the Role of Digital Tools

CarGurus’ report reveals shifting consumer behaviors in car buying, emphasizing digital tools alongside in-person guidance.

Quiver AI Summary

CarGurus has released its Eighth Annual Consumer Insights Report, which highlights evolving shopper behaviors in the car buying and selling market. Conducted with over 3,000 recent car buyers and sellers, the study reveals that consumers increasingly blend online convenience with in-person support, with 83% preferring to conduct more transactions from home while still valuing in-person steps like test drives before making a purchase. Economic factors have also influenced decisions, prompting more buyers to opt for used vehicles and evaluate various brands and dealerships. Additionally, there is a growing reliance on AI and mobile tools, with 80% of consumers open to using AI for tasks such as vehicle comparison. Overall, shoppers feel empowered to personalize their car buying experiences through digital tools, reflecting a greater emphasis on individualized preferences.

Potential Positives

CarGurus maintains its position as the No. 1 most visited automotive shopping site in the U.S., indicating strong brand recognition and consumer trust.
The 2025 Consumer Insights Report highlights increasing consumer reliance on AI and digital tools, suggesting that CarGurus is at the forefront of technological innovation in the automotive market.
Consumer satisfaction remains high despite economic challenges, demonstrating the effectiveness of CarGurus’ offerings in enhancing the car-buying and selling experience.
The finding that 69% of car buyers feel that a vehicle reflects their identity points to opportunities for CarGurus to tailor marketing and services to meet personalized consumer preferences.

Potential Negatives

Despite being the most visited automotive shopping site, the report indicates a significant increase in consumers considering multiple brands and dealerships, suggesting heightened competition and potential dilution of CarGurus' brand loyalty.
The reliance on AI and digital tools for decision-making among consumers may overshadow traditional dealership roles, potentially threatening partnerships with dealers that are integral to CarGurus’ business model.
The increase in economic uncertainty influencing consumer behavior might reveal potential vulnerabilities in the market, signaling challenges ahead for revenue stability.

FAQ

What does the 2025 Consumer Insights Report reveal about car buying trends?

The report shows shoppers blending online convenience with in-person guidance, emphasizing digital tools while valuing personal interactions.

How are consumers using AI in their car buying process?

80% of buyers and sellers are open to AI, using it for vehicle comparisons, listing searches, and reviewing cars and dealerships.

What impact has economic uncertainty had on car buying decisions?

73% of respondents reported that economic factors influenced their decisions, leading many to prefer used cars and delay purchases.

How are shoppers personalizing their car buying experience?

Consumers are increasingly viewing cars as reflections of their identity, with 69% expressing a personal connection to their vehicles.

What demographic trends are highlighted in the report regarding mobile usage?

Over half of respondents use mobile devices for car shopping, with Gen X being the most mobile-oriented demographic at 60%.

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 27 times in the past 6 months. Of those trades, 0 have been purchases and 27 have been sales.

Here’s a breakdown of recent trading of $CARG stock by insiders over the last 6 months:

SAMUEL ZALES (COO and President) has made 0 purchases and 6 sales selling 60,000 shares for an estimated $2,032,400.
JAVIER ZAMORA (General Counsel and Secretary) has made 0 purchases and 3 sales selling 19,739 shares for an estimated $643,703.
JASON TREVISAN (Chief Executive Officer) sold 15,000 shares for an estimated $525,000
JENNIFER LADD HANSON (Chief People Officer) has made 0 purchases and 2 sales selling 10,565 shares for an estimated $390,102.
DAFNA SARNOFF (Chief Marketing Officer) has made 0 purchases and 4 sales selling 11,027 shares for an estimated $384,443.
ISMAIL ELSHAREEF (Chief Product Officer) has made 0 purchases and 4 sales selling 9,027 shares for an estimated $293,316.
MATTHEW TODD QUINN (Chief Technology Officer) has made 0 purchases and 2 sales selling 7,578 shares for an estimated $268,223.
ZACHARY EMERSON HALLOWELL (CEO, CarOffer) has made 0 purchases and 2 sales selling 6,102 shares for an estimated $203,214.
GREG M SCHWARTZ sold 5,000 shares for an estimated $175,300
LANGLEY STEINERT (Executive Chair) has made 0 purchases and 2 sales selling 4,592 shares for an estimated $146,375.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$CARG Revenue

$CARG had revenues of $238.7M in Q3 2025. This is an increase of 3.17% from the same period in the prior year.

You can track CARG financials on Quiver Quantitative's CARG stock page.

$CARG Hedge Fund Activity

We have seen 164 institutional investors add shares of $CARG stock to their portfolio, and 205 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CONGRESS ASSET MANAGEMENT CO added 1,903,207 shares (+inf%) to their portfolio in Q3 2025, for an estimated $70,856,396
ALTA FOX CAPITAL MANAGEMENT, LLC added 1,098,700 shares (+inf%) to their portfolio in Q3 2025, for an estimated $40,904,601
ARROWMARK COLORADO HOLDINGS LLC removed 1,071,003 shares (-28.6%) from their portfolio in Q3 2025, for an estimated $39,873,441
UBS GROUP AG added 942,199 shares (+158.2%) to their portfolio in Q3 2025, for an estimated $35,078,068
ORBIS ALLAN GRAY LTD added 765,791 shares (+inf%) to their portfolio in Q3 2025, for an estimated $28,510,398
WELLINGTON MANAGEMENT GROUP LLP added 594,670 shares (+6.6%) to their portfolio in Q3 2025, for an estimated $22,139,564
THRIVENT FINANCIAL FOR LUTHERANS added 552,459 shares (+7479.8%) to their portfolio in Q3 2025, for an estimated $20,568,048

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$CARG Analyst Ratings

Wall Street analysts have issued reports on $CARG in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

BTIG issued a "Buy" rating on 09/05/2025
Oppenheimer issued a "Outperform" rating on 08/12/2025
Needham issued a "Buy" rating on 08/08/2025

To track analyst ratings and price targets for $CARG, check out Quiver Quantitative's $CARG forecast page.

$CARG Price Targets

Multiple analysts have issued price targets for $CARG recently. We have seen 8 analysts offer price targets for $CARG in the last 6 months, with a median target of $40.0.

Here are some recent targets:

Ronald Josey from Citigroup set a target price of $41.0 on 10/28/2025
Rajat Gupta from JP Morgan set a target price of $43.0 on 10/14/2025
Kunal Madhukar from UBS set a target price of $40.0 on 10/06/2025
Marvin Fong from BTIG set a target price of $35.0 on 09/05/2025
Jed Kelly from Oppenheimer set a target price of $40.0 on 08/12/2025
Chris Pierce from Needham set a target price of $44.0 on 08/08/2025
Robert Mollins from Gordon Haskett set a target price of $35.0 on 07/14/2025

Full Release

Eighth Annual Consumer Insights Report finds shoppers are blending online convenience with in-person guidance, turning to AI and mobile tools to navigate the market confidently

BOSTON, Dec. 03, 2025 (GLOBE NEWSWIRE) -- CarGurus , the No. 1 most visited automotive shopping site in the U.S. ¹ , today released its U.S. Consumer Insights Report. The eighth annual study examines shopper preferences, challenges, and trends along the car buying and selling journey.

Surveying over 3,000 recent car buyers and sellers, the study uncovers shifts in consumer behavior—from their motivations and research habits, to the types of vehicles and dealerships they consider. Even with economic challenges, consumers remain highly satisfied. The study shows they are embracing digital tools to personalize their journey, boost confidence in their decisions, and streamline steps throughout the process, while still valuing in-person touchpoints before completing a purchase or sale.

Highlights from the 2025 Consumer Insights Report include:

Consumers lean on digital tools more than ever, but still value in-person support: Comfort with online car shopping is at an all-time high—83% of consumers prefer to do more from home, up from 72% in 2022. Even so, most (86%) still choose to see the vehicle in person before buying. The top steps preferred in person include the test drive, price negotiation, and assessing a car’s reliability, showing the important role dealers play in supporting final purchase steps.
Buyers are casting a wider net: Shoppers are considering more makes, models, and dealerships to find the best fit. A majority of consumers now consider three or more brands when starting the process (53% in 2025 vs. 43% in 2024), and 66% were flexible on the make/model. Of those who replaced a vehicle, 70% switched to a different brand. Shoppers are also visiting more dealerships to find the right car at the right price. In 2025, 61% of respondents visited two or more dealerships, up from 54% in 2024.
Shoppers rely on AI and mobile to support decisions: As consumers consider more options, they are leaning into digital tools to guide decision-making. Most buyers and sellers (80%) are open to using AI, and 26% are already utilizing it. Consumers are most interested in using AI to compare vehicles (44%), find listings (40%), and summarize reviews on cars (39%) and dealerships (36%). Shopper segments most open to AI are Millennials (86%) and Gen X (77%).

Notably, CarGurus users are more AI-open (88%), benefitting from resources like CarGurus’ AI-powered Discover tool —available online and in the app—to research options, compare vehicles, and uncover their best match listings. The high reliance on mobile devices underscores digital adoption in car buying and selling. Over half (54%) use their phones more than desktops, and an additional 31% use both equally. Gen X is the most mobile-oriented (60%), followed by Gen Z and Millennials (both at 52%).
Shoppers are adapting to economic uncertainty : Most respondents (73%) said economic factors influenced their buying/selling decisions this year, prompting 31% to buy used over new, 24% to hold onto their cars longer, and 23% to delay the process. On the whole, though, transaction timelines were consistent with last year. Over 80% of buyers and 86% of sellers finished the process in under a month.
Car buying becomes more personal: While need-based reasons remain the primary driver among buyers, “treating myself” rose to the No. 3 purchase motivation in 2025 (up from No. 4 in 2024). This aligns with a growing sense of personal connection to vehicles, as 69% say a car reflects their identity—up from 49% in 2022. With more new and used cars on the market today, shoppers may be feeling encouraged by the wider selection and broader mix of price points available.

“Car buyers and sellers are more empowered than ever to personalize their journey, both online and in-person,” said Alison Ciummei, Vice President of Product Marketing and Customer Insights at CarGurus. “They’re using digital tools to research more deeply, take actions from home to feel more prepared for a transaction, and make decisions that lead to a more seamless dealership experience. At CarGurus, we’re proud to support that evolution with deep vehicle information, the largest selection of cars ² , the No. 1 downloaded car shopping app ³ , and AI-powered features that build more confidence along every step.”

The full Consumer Insights Report from CarGurus is available here .

Background and Methodology

The CarGurus Consumer Insights Report is primarily sourced from a May/June 2025 study conducted by CarGurus and NielsenIQ, a leading market research firm. The study included a survey of 3,030 past-four-month auto purchasers/sellers of new or used vehicles. Respondents could qualify as both buyers and sellers, are 18 to 65 years old, and weighted to be representative of the U.S. auto market in terms of demographics (age, gender, income, etc.) and market factors (new/used, price point, etc.). In some cases figures may not sum to 100% because of rounding.

About CarGurus, Inc.

CarGurus (Nasdaq: CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S. ¹ with the largest selection of inventory and network of dealers. ² CarGurus’ unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper’s journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company’s network of brands includes PistonHeads, the largest online motoring community in the U.K. ⁴ , and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com .

¹ Similarweb: Traffic and Engagement Report [Cars.com, Autotrader.com , TrueCar.com , CARFAX.com
Listings (defined as CARFAX.com Total Visits minus Vehicle History Reports)], Q3 2025, U.S.
² Compared to Autotrader.com (YipitData July/August 2025), Cars.com, TrueCar.com
(YipitData as of September 30, 2025), and CARFAX (Joreca as of September 30, 2025).
³ Sensor Tower Data: #1 downloaded Automotive Marketplace & Retailers app across all
active markets (US, CA, and UK) for the last eight consecutive quarters.
⁴ Similarweb: Traffic Insights, Q3 2025, U.K.

Media Contact:
Maggie Meluzio
Director, Public Relations and External Communications
[email protected]

Investor Contact:
Kirndeep Singh
Vice President, Head of Investor Relations
[email protected]