cars.com-reports-80%-of-labor-day-travelers-opt-to-drive-this-holiday-weekend-due-to-frequent-air-travel-disruptions-and-lower-gas-prices

Cars.com Reports 80% of Labor Day Travelers Opt to Drive This Holiday Weekend Due to Frequent Air Travel Disruptions and Lower Gas Prices

 

With air travel woes continuing and gas prices falling, a Labor Day travel survey conducted by car-shopping marketplace Cars.com™ (NYSE: CARS) reveals Americans are hitting the road for their final summer vacation. The survey found that of the 64% of respondents who plan to travel for Labor Day weekend, 80% will drive to their destination1. Of those not planning to travel for the holiday, nearly a quarter cited high gas prices as the reason — significantly lower than the 42% of respondents who cited high gas prices as their reason for staying home over Fourth of July weekend2.

“For many, driving is not only the most economical way to travel, but the most comfortable and convenient,” said Jenni Newman, Cars.com editor-in-chief. “While gas prices are still too high for some, we are seeing pain at the pump ease just in time for the holiday weekend. Travelers are also saving on gas by turning to electric and hybrid vehicles, with 36% of road-trippers using alternative fuel cars this Labor Day.”

Cars.com’s survey also found the following trends1 impacting 2022 Labor Day travel:

  • Carpooling to save on gas: Vacation carpooling continues to be a popular option, with 73% of travelers planning to drive with others and 47% attributing their carpool plans to a desire to save on fuel.

  • Change of plans: Some 52% of travelers who typically prefer to fly are now going to drive due to high ticket prices and ongoing airline disruptions. Additionally, 30% of respondents planning to drive say they’ve changed their destinations and are now traveling farther.

  • A growing number of electric and hybrid vehicles on the road: Among the 36% of travelers planning to take a road trip over Labor Day weekend, 10% plan to take an EV and 26% planning to take a hybrid. This is up from the Fourth of July weekend, where 3% took an EV and 9% drove a hybrid.

  • Growing concerns as monkeypox cases spread: Sixty-four percent of survey respondents are at least somewhat concerned about contracting monkeypox while traveling this Labor Day weekend. Driving in a personal vehicle can reduce the number of people whom travelers come in contact with and provide some peace of mind while traveling.

  • Family road trips: Forty-nine percent of Labor Day travelers plan to road-trip with kids, with 63% having one or two children in car seats. This month, Cars.com released its annual Car Seat Fit Report Card, a resource for families to understand how current vehicles on the market stack up when it comes to safe car seat installation.

To learn more about the recent Labor Day travel survey, great deals and other car-buying tips and tricks, visit Cars.com/News.

1Cars.com consumer survey, fielded Aug. 10-12, 2022; 1,932 responses

2Cars.com consumer survey, fielded June 14-17, 2022; 1,670 responses

cars.com-launches-“instant-offer”-nationwide,-empowers-consumers-to-claim-highest-offer-from-a-local-dealer-and-sell-their-car-instantly

Cars.com Launches “Instant Offer” Nationwide, Empowers Consumers to Claim Highest Offer From a Local Dealer and Sell Their Car Instantly

 

Americans have several options when it comes to selling their car, but half (50%) prefer to work directly with a local dealership, according to a recent survey by car-shopping marketplace Cars.com (NYSE: CARS). While consumers have long been able to sell their cars to other consumers on Cars.com, they can now take things a step further.1 Instant Offer, powered by Accu-Trade, is a new capability on Cars.com that lets consumers tap the company’s large network of nearly 20,000 dealers across the country to sell their used car instantly. Consumers are able to get a competitive cash offer from a local dealership in their area and pick up a check the same day.

“About 40% of the 27 million monthly shoppers on Cars.com have a car to trade in before purchasing a new one, and we wanted to offer a seamless experience for those consumers to connect with local dealers and have a convenient, safe and fast place to sell their car,” said Doug Miller, president and chief commercial officer at Cars.com.2 “Our new Instant Offer capability curates the best offer for a consumer and enables them to sell their used car to a qualified local retailer, collect a check and purchase a new vehicle all in the same day.”

As vehicle inventory levels continue to be a concern, Cars.com’s new Instant Offer allows consumers to get a competitive cash offer for their used car while also supporting local dealerships with much-needed inventory. Consumers are already taking advantage: Since its roll out in May to select markets, Cars.com’s new solution has generated more than 5,000 Instant Offers and is expected to scale rapidly as the product goes nationwide.2

Cars.com also released new digital advertising as part of their “It’s Matchical” brand campaign to announce the new Instant Offer solution and drive awareness. Consumers interested in connecting with a dealership through Instant Offer or selling their car to another consumer can visit Cars.com/Sell.

new-brand-campaign-showcases-cars.com’s-mix-of-art-and-science-that-creates-perfect-car-matches

New Brand Campaign Showcases Cars.com’s Mix of Art and Science That Creates Perfect Car Matches

 

Cars.com™ (NYSE: CARS), a leading digital automotive marketplace and solutions provider, today announced the launch of its new nationwide brand campaign, It’s Matchical™.” The breadth and depth of its first-party data, paired with smart matchmaking technology, enables the Cars.com marketplace to successfully connect its more than 20 million monthly unique car shoppers with the vehicles that meet their needs, budgets and exceed their expectations. With 50,000 new and used cars added daily from local dealers across the country, car shoppers never miss the chance to find their perfect match on Cars.com.

“Cars.com has been creating car chemistry for nearly 25 years, and we’ve learned it’s both art and science that creates a lasting connection between Americans and their cars,” said Brooke Skinner Ricketts, chief experience officer at Cars.com. “We’ve seen car buying and selling transform toward virtual first at an incredible pace in the last year. Shoppers want a personalized experience that curates their choice based on data science and their personal preferences. Our combination of vast selection of fresh inventory with intelligence enables us to meet these demands like no other marketplace can.”

“It’s Matchical” is an evolution of the successful themes of Cars.com’s 2018 “We Met on Cars.com” brand campaign, demonstrating the awe and confidence that results from intelligent curation. It’s more than magical, it’s matchical.

And while the grand reveal is the perfectly curated car match, the entire Cars.com experience is worthy of marvel. With industry-leading expert content and nearly 10 million consumer reviews, Cars.com’s digital-first capabilities allow consumers to connect with local dealers through live video and online chat, experience the sights and sounds of a virtual test drive, and even select from millions of vehicles available for contactless, local home delivery.

“It’s Matchical” rolls out nationwide today with an integrated creative campaign across TV, connected TV, digital video, social media, display, radio and digital OOH. Its new TV spots, “Diner” and “Everywhere,” will be featured during the 2021 NCAA Division I Men’s Basketball Tournament in March and will air nationally throughout 2021.

Please visit the company’s YouTube channel to experience the Cars.com “It’s Matchical” campaign.

the-future-of-car-buying-in-new-virtual-first-world:-cars.com-reveals-5-dominating-forces-driving-auto-in-2021

The Future of Car Buying in New Virtual-First World: Cars.com Reveals 5 Dominating Forces Driving Auto in 2021

Cars.com (NYSE: CARS), a leading digital automotive marketplace and solutions provider, today revealed the top five trends advancing the auto space in 2021 and beyond. The COVID-19 pandemic forever altered car buying and selling, and changes will persist this year as Americans continue to spend more time at home and online, place a premium on the freedom car ownership provides, and keep affordability and electric vehicles top of mind.

“In the new virtual-first environment, digital platforms have significantly increased in importance for small businesses across the country, dealerships included, as the need persists to virtually connect with at-home shoppers,” said Alex Vetter, Cars.com Inc. CEO. “The new year will bring fast and persistent adaptation in our industry as consumers continue to rely on cars as an extension of their homes, and look for frictionless digital experiences from their local dealerships. America’s car dealers are well positioned to meet these expectations head-on as technology takes center stage, and we welcome this new era of digital car buying and selling.”

Cars.com predicts the following trends will have the most long-term impact on car shopping in 2021:

  • New wave of car buyers emerge: With the Centers for Disease Control and Prevention stating that cars are the safest transportation option during the pandemic, nearly 50% of people surveyed by Cars.com say they continue to rely less on mass transit and ride-sharing services.This has placed a premium on the freedom and safety car ownership provides, resulting in a new wave of first-time car buyers. Of Americans who previously did not own a car, nearly 20% are considering purchasing one.2 Even as consumers return to life outside the house, the primary mode of transport will continue to be the car.

  • The driveway becomes the dealer lot: In 2021, at-home delivery of vehicles and trading in vehicles from the driveway will become more mainstream. Last year, 57% of car buyers conducted the bulk of their vehicle purchases online, and several opted for contactless home delivery from their local dealership.1 Since April 2020, more than 10 million vehicles on Cars.com — approximately 30% of total inventory listed on the site — have been available for home delivery from dealers across the country. Furthermore, 50% of Cars.com dealer customers are offering home delivery services.3

  • Virtual selling streamlines car buying: As dealership adoption of digital tools and technology increases, car shoppers can expect more of the purchase process to take place on virtual selling platforms such as chat, video and dealer websites. Stay-at-home consumers are driving advancement in these platforms and shifting them from merely communications tools to selling tools. As it stands, more than 70% of consumers want to conduct at least some parts of the purchase online.4

  • Affordability is at the forefront for consumers: Car shoppers will continue to keep affordability top of mind this year. Approximately 45% of new-car shoppers are interested in vehicles over $30,000, while nearly 40% of used car buyers are interested in cars under $10,000.4 Although low interest rates and favorable credit conditions are helping keep monthly payments down for buyers, lean vehicle inventory conditions have resulted in unusually high new- and used-car prices. As a result, shoppers are prioritizing more comfortably priced vehicles.

  • Advancement in EVs with federal support and evolved technology. Electric vehicles could have a big year in 2021 as the incoming administration supports the EV market with consumer incentives, infrastructure plans and federal fleet purchases. With tech companies such as Apple rumored to enter the market, and automakers like Hyundai, Ford and GM announcing plans to significantly invest and expand their EV platforms, it’s clear the race for EV domination is on.

“Despite the positive momentum expected in the EV category this year, hybrids and EV searches made up less than 1% of total site searches3 on Cars.com in 2020, signaling a long road ahead until mainstream adoption,” added Vetter.