CarGurus, Inc.

CarGurus, Inc. (CARG) News & Events

$30.280

-0.021 (-0.07%)At close

CARG News

CARG Events

10/15 13:00

CarGurus Shares Drop 2% to $29.45 After NYC Lawsuit Announcement

CarGurus drops 2% to $29.45 after New York City announces lawsuit

10/15 13:00

New York City Sues CarGurus for False Advertising

Commissioner of the New York City Department of Consumer and Worker Protection Samuel Levine and the New York City Department of Consumer and Worker Protection announced an enforcement action against CarGurus. CarGurus is "charged with deceiving customers by advertising falsely reduced prices as 'Good Deals' or 'Great Deals,' hiding hundreds or thousands of dollars in additional fees, downpayments, and trade-in requirements," the agency said in statement. The "company uses its misleading price ratings system, as well as an AI chatbot, to dupe people into believing that they are receiving a bargain on a car," it added. DCWP found that CarGurus violated the New York City Consumer Protection Law more than 2,000 times over the course of its investigation. The lawsuit, filed in New York State Supreme Court, seeks to permanently stop CarGurus "from deceiving New Yorkers and impose civil penalties."

9/29 09:30

CarGurus Launches VINMax Platform to Enhance Dealer Marketing Capabilities

CarGurus announced details on the latest addition to its dealer platform: VINMax, which extends CarGurus' consumer demand data and AI-powered predictive intelligence into marketing for the first time. "VINMax is one of CarGurus' fastest-growing product launches, a signal of the value it provides dealers in maintaining healthy inventory and strong margins," said Ben Kasdon, Vice President of Dealer Product Management at CarGurus. "Using live market data, it determines where extra visibility can make the biggest difference so dealers can act earlier on VINs at risk of aging while making the most of demand for their strongest inventory."

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