Cars Shopping Activity on Cars.com Continues to be Strong Post Cash for Clunkers
September 10 2009 - 11:15AM
PR Newswire (US)
CHICAGO, Sept. 10 /PRNewswire/ -- Despite an end to the Cash for
Clunkers program, Cars.com reports site traffic and consumer
contacts to dealers remain strong, bucking industry predictions
that there would be a large decline in shopping activity following
the program. While the Cash for Clunkers program was a boon for new
car shopping on Cars.com - doubling consumer contacts to dealers
for new cars when compared pre Cash for Clunkers activity - post
Cash for Clunkers contacts to dealers have remained equal to the
amount of activity the site was experiencing before the program
started. "We had been experiencing a significant amount of new car
activity on the site prior to the launch of the program and that
activity has remained strong now that the program has ended," said
president of Cars.com Mitch Golub. "While there has been a leveling
of shopping activity since the program ended, we haven't seen the
huge drop off that has been predicted." Consumer activity for used
cars continues to be strong as well. Consumer contacts with dealers
during the Cash for Clunkers program was up 6 percent over pre Cash
for Clunkers levels showing that the program had a positive impact
on the automotive industry in general and not just the new car
market. The site's used car shopping activity post Cash for
Clunkers is currently 2 percent above pre Cash for Clunker
activity. "It's clear from looking at the traffic on our site and
the resulting vehicle sales reports that the program solicited its
desired response in new car shopping and certainly had a halo
effect on the used car market," added Golub. "We believe this
program helped to revitalize the marketplace and brought consumers
back to market in a big way. We are encouraged to see site activity
remain strong and are hopeful that this trend will continue
throughout the fourth quarter and into 2010." For more information,
visit http://www.cars.com/. About Cars.com Cars.com is the leading
destination for online car shoppers, offering credible,
easy-to-understand information from consumers and experts to help
buyers formulate opinions on what to buy, where to buy and how much
to pay for a car. With comprehensive pricing information,
side-by-side comparison tools, photo galleries, videos, unbiased
editorial content and a large selection of new- and used-car
inventory, Cars.com puts millions of car buyers in control of their
shopping process with the information they need to make confident
buying decisions. Launched in June 1998, Cars.com is a division of
Classified Ventures, LLC, which is owned by leading media
companies, including Belo (NYSE:BLC), Gannett Co., Inc. (NYSE:GCI),
The McClatchy Company (NYSE:MNI), Tribune Company and The
Washington Post Company (NYSE:WPO). DATASOURCE: Cars.com CONTACT:
Jackie Brennan, Associate Public Relations Manager,
+1-312-601-6229, mobile, +1-219-577-6106, , or Steve Nolan, Public
Relations Manager, +1-312-601-5163, mobile, +1-630-310-2468, , both
of Cars.com Web Site: http://www.cars.com/
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