CarGurus' Latest Digital Retail Solution Connects Canadian Dealers with Purchase-Ready Shoppers More Efficiently

Core Insights - CarGurus has launched a new digital retail solution called CarGurus Digital Deal in Canada, aimed at enhancing connections between dealers and purchase-ready shoppers [1][2] - The solution allows consumers to start their financing applications online, book appointments, and initiate trade-ins before visiting the dealership, streamlining the buying process [2][3] Company Overview - CarGurus is a multinational online automotive platform that facilitates buying and selling vehicles, leveraging proprietary technology and data analytics to enhance trust and transparency in the automotive shopping experience [5] - The company operates in multiple countries, including the U.S., U.K., and Canada, and is recognized as the fastest-growing automotive shopping site in Canada [5][6] Product Features - CarGurus Digital Deal enables a three-step process for consumers to build personalized finance applications that are submitted directly to participating dealerships [2][3] - The solution is integrated with dealer finance portal platform CreditApp, allowing customization with dealers' preferred lender networks [3] Market Impact - The introduction of Digital Deal is expected to connect dealers with higher-converting leads, facilitating faster and more efficient sales across over 15,000 vehicle listings in Canada [3] - Dealers have reported that the solution simplifies the buying process and improves engagement with shoppers, leading to higher conversion rates [4]