CAMBRIDGE, Mass., July 30, 2019 (GLOBE NEWSWIRE) -- CarGurus, a leading online automotive marketplace, today announced the launch of its Certified Pre-Owned (CPO) Partner Program with OEMs in the Canadian market. This new program distinguishes to consumers the difference between manufacturer-certified vehicles and dealer-certified vehicles on the CarGurus platform, with Kia Canada and GM Canada signing on as the first partners.
Consumers will now be able to search in both English and French CPO inventories directly from the CarGurus homepage. Additionally, the OEM-certified vehicles will be easily identifiable on both the search results and vehicle display pages. CPO certification will also be considered as part of CarGurus’ Deal Rating determinations for Canada listings, ascribing value to the OEM-certified vehicles due to the rigorous safety and maintenance inspections performed by the manufacturers.
“As we celebrate our twentieth year in Canada, Kia is excited to continue offering new ways for Canadians to access our lineup through this innovative platform from CarGurus,” said Elias El-Achhab, Vice President & Chief Operating Officer, Kia Canada Inc. “With a growing reputation for quality and reliability based on consistent industry awards, Kia will be a very popular CPO choice for consumers for years to come.”
“We’re very excited to kick off our CPO Partner Program with Kia and GM as our first partners,” said Diego Sanson, Vice President of International Business Development at CarGurus. “Historically, the nuances of pre-owned certifications have not been perfectly clear to online car shoppers, and we're confident that CarGurus' CPO Partner Program will provide consumers the transparency they need to find and purchase the right vehicle from the right dealer.”
OEM-certified CPO feeds are automatically applied to any dealers currently listing their inventory on CarGurus in Canada. CPO certification on CarGurus also allows some franchise dealerships to submit claims to OEM-co-op programs and get partial to full refund for their digital marketing spend on CarGurus.
Founded in 2006, CarGurus (Nasdaq:CARG) is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers. CarGurus is the largest automotive shopping site in the U.S. based on monthly unique visitors (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q1 2019, U.S. (Competitive set: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). In addition to the United States, CarGurus operates online marketplaces in Canada, the United Kingdom, Germany, Italy and Spain. To learn more about CarGurus, visit ca.cargurus.com.
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The information in this release about CarGurus contains forward-looking statements regarding future events that involve risks and uncertainties, and CarGurus’ actual results may differ materially from those contemplated by such forward-looking statements. For further information regarding risks and uncertainties associated with CarGurus’ business, please refer to the "Risk Factors" section of CarGurus’ most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent CarGurus’ beliefs and assumptions only as of the date of this release. While CarGurus may elect to update forward-looking statements at some point, CarGurus specifically disclaims any obligation to do so.