CarGurus, one of America’s biggest online classified sites, has launched in the UK. The business is led by CEO Langley Steinert, co-founder of TripAdvisor, the world’s largest travel website.
The business aims to take a market leadership position although it will not be investing in a high profile marketing campaign to customers.
The UK version of the site went live on 1 December, following 18 months of development, with the business claiming more than 200,000 car listings from dealers. CarGurus is offering dealers free postings of their stock and plans to
“With the stock we have now we’re number four in the marketplace already. There’s a couple more partnerships we’re working on to get more inventory.. Our goal is to have at least as many as Auto Trader and I don’t have any reason to believe that we won’t pass Auto Trader in the UK,” said Steinert.
The US site was launched in 2007 and claims to attract 15.5 million unique monthly visitors which places it ahead of the US Cox Automotive owned Autotrader.com. It also claims to have more than 11,000 participating dealer sites in the US.
“CarGurus has grown quickly and consistently based on a unique model that simply works well for shoppers and dealers alike, ” said Steinert.
“We have seen in the United States that when the car shopping process is transparent, everybody benefits. We believe that the UK automotive marketplace is seeking just this kind of transparency and shoppers will appreciate the evolution that CarGurus brings to the region.”
CarGurus list an Instant Market Value for each car on the site using a bespoke algorithm to analyse and compare prices and specifications on hundreds of thousands of car listings each day. Results are then ranked according to the best deals from the top-rated dealers.
Like TripAdvisor, CarGurus will also encourage buyers to share reviews of dealers and claims to have a “robust review integrity process running both technical and human fraud detection”. A CarGurus poll of the US website found 71% of online shoppers read dealership ratings and reviews before contacting a dealer.