CARGURUS LAUNCHES ONLINE SAFETY FEATURES TO HELP DEALERS DURING CORONAVIRUS

• New features enable consumers and dealerships to safely continue used car purchase journey amid COVID-19
• Social distancing and virtual appointments, contactless purchasing, free test drives at home and free home drop offs some of the services available to dealers and car buyers
• Online safety tools available to subscribing dealers

CarGurus, a leading global automotive marketplace, today announced new digital safety and convenience features in its effort to support dealerships and car buyers during COVID-19.

Amid the current COVID-19 lockdown, the company is now offering ways for its subscribing dealers in the UK to safely communicate and connect with consumers.

The new array of features will help those who are able to continue their search for a used car to do so safely.

For those dealerships that are in a paid relationship with CarGurus, these new filtering and vehicle description features can be applied to their inventory on CarGurus.co.uk. Those dealerships can opt into any or all of the following services:

• Social Distancing Appointments – Dealers can schedule appointments with consumers to visit their dealerships and confirm specific timing to ensure social distancing
  
• Virtual Appointments – Consumers can schedule a virtual meeting with a dealership to conduct a virtual walk-around of the vehicle
• Contactless Purchase – Buyers can either pay for or finance a vehicle remotely, by either phone or email, and any paperwork will be delivered to them.
• Free Test Drive at Home – In up to a 25-mile radius, vehicles can be brought to a consumer’s home so they can safely test drive it with no commitment to purchase
• Free Home Drop Off – In up to a 25-mile radius, a dealer will deliver a vehicle and the associated paperwork to those consumers that commit to purchasing it

“Trust is an essential component to everything we do at CarGurus, and it is the foundation of our relationship with both car buyers and our dealer partners. This has not changed as we all navigate this new COVID-19 environment together,” said Wendy Harris, Vice President of European Sales at CarGurus.

“We have moved quickly to provide new tools and functionality to enable those buyers looking to purchase a car to find dealers able to provide one along with safe, contactless purchase options.”

Dealer Resources:

Dealers that are interested in learning more about CarGurus’ contactless features for COVID-19 can read about them in depth by visiting: https://dealercentre.cargurus.co.uk/covid-19-resources/

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For further information, please contact:
James Drake at CarGurus – UKPR@CarGurus.com / 0208 541 3434 / +44 07809 657178

How CarGurus Works
CarGurus helps car shoppers search local car listings and quickly find great deals from top-rated dealers. Every day, the company analyses millions of data points on hundreds of thousands of UK car listings to calculate each car’s Instant Market Value (IMV) or fair retail price. This data is used in combination with dealership ratings from other shoppers to rank and rate available cars results based on the quality of the deal: Great, Good, Fair, High or Overpriced. The site also provides transparency on how long the car has been on the forecourt and if it’s had a price drop. Consumers can contact dealers directly.

About CarGurus
Founded in 2006 by Langley Steinert (also a co-founder of TripAdvisor), CarGurus (Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of 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 most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q4 2019, U.S. (Competitive set: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). CarGurus launched in the UK in 2015 and is the fastest growing auto shopping site in the UK among its nearest competitors (source: Comscore MMX Multi-Platform®, Custom-defined list includes Cargurus.CO.UK, Motors.CO.UK, AutorTrader.CO.UK, Pistonheads.com, Gumtree.com, Percent Change in average unique monthly visitors from Q4 2018 to Q4 2019, UK). In 2019, CarGurus acquired UK-based PistonHeads.com, which it operates as an independent brand. In addition to the United Kingdom and the United States, CarGurus operates online marketplaces in Canada, Germany, Italy and Spain.
CarGurus® is a registered trademark of CarGurus, Inc. All product names, trademarks and registered trademarks are property of their respective owners.

To learn more about CarGurus visit www.cargurus.co.uk.

© 2020 CarGurus, Inc., All Rights Reserved.

Cautionary Language Concerning Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding improvements to our site user experience, new features and product offerings, the value proposition of our products, our business and growth strategy, and our ability to help our dealer customers and consumers, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “guide,” “intend,” “likely,” “may,” “will” and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation: risks related to our rapid growth and ability to sustain our revenue growth rate; our relationships with dealers; competition in the markets in which we operate; market growth; our ability to innovate and manage our growth; our ability to expand effectively into new markets; our ability to realize benefits from our acquisitions and successfully implement the integration strategies in connection therewith; natural disasters, epidemics or pandemics, like COVID-19 that have negatively impacted our business; our ability to operate in compliance with applicable laws; as well as other risks and uncertainties set forth in the “Risk Factors” section of our Annual Report on Form 10-K, filed on February 14, 2020 with the Securities and Exchange Commission (SEC), and subsequent reports that we file with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.