Cars.com Reports Year Over Year Gains

By Staff Writer May 14, 2024

Cars.com reported revenue for the first quarter totaled $180.2 million, an increase of $13.1 million, or up 8%, compared to the prior year period. Its subscription-based dealer revenue also grew 8% year-over-year, driven by incremental revenue from the D2C Media acquisition, growth in digital experience revenue, including websites, and the 2023 Marketplace Repackaging initiative. OEM and National revenue grew 13% year-over-year driven by increased OEM spending to raise consumer awareness, as on-the-lot inventory continues to increase. During the period, approximately two-thirds of OEM customers increased their year-over-year spend.

Consumer interest in vehicle purchases remains strong; total Traffic reached 171.4 million and Average Monthly Unique Visitors for the quarter year were 28.3 million.

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Last modified on Thursday, 16 May 2024 10:01