Leading car listings site CarGurus will extend its previously announced subscription discounts for dealers through May.
CarGurus announced on March 18 that it would give dealers 50% off their listings subscriptions for April in order to help clients through the Covid-19 crisis. Competitors Cars.com and Autotrader followed suit by offering similar breaks to their customers.
Listings subscriptions for major auto sites can be a significant expense for car dealers. In the case of CarGurus, the average dealer paid $1,465 per month in the U.S. and 417 euros ($450 U.S.) in Canada and Europe, according to the company’s most recent quarterly financial statements.
If those figures are still valid, CarGurus’s discounts in April and May would save dealers — and cost CarGurus — more than $60 million.
CarGurus is the No. 1 publicly traded car listings site in the U.S. by revenue, having passed Cars.com for the first time in the fourth quarter of 2019. It is also the leading U.S. auto site in terms of traffic. In February, it had 60.7 million visitors compared to Cars.com’s 24.5 million and Autotrader.com’s 24 million, according to SimilarWeb.