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CarGurus Launches AI-Powered Car Shopping Experience

1. CarGurus launched an AI-powered search for car shopping. 2. The new feature enhances personalization and user engagement. 3. Early users show increased time spent on the site. 4. The AI integration leverages real-time vehicle data and analytics. 5. CarGurus aims to improve efficiency in vehicle buying and selling.

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FAQ

Why Bullish?

The AI integration could significantly enhance user engagement, potentially increasing sales volumes as seen in other tech adaptations like Zillow’s Zestimate which boosted user retention and transactions post-implementation.

How important is it?

The AI-powered search could redefine user interaction and satisfaction, increasing the platform's competitive edge and driving up stock value.

Why Short Term?

Initial responses from early users are promising, suggesting a potential quick uptick in sales or engagement metrics, similar to how e-commerce platforms benefit shortly after launching improved user experiences.

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Intelligent search integration unlocks a more personalized and intuitive experience for drivers to discover their best deal with greater confidence BOSTON, June 09, 2025 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced the release of its AI-powered search experience. This innovation delivers a more personalized and intuitive car shopping experience, embedded directly into the CarGurus website. Buyers can now harness conversational search, paired with expert auto intelligence and real-time vehicle data, to research, compare, and shop the largest selection of new and used cars in the U.S.2 “For nearly two decades, CarGurus has supported drivers through one of the biggest purchase decisions of their lives. This update aims to advance that mission even further, enabling them to shop in ways that weren’t possible before by having an open dialogue right on our site,” said Ben Kasdon, Vice President, Product at CarGurus. “No matter what phase of the journey they’re in, shoppers can now search on their own terms to uncover their best match more efficiently and with greater confidence. Early pilot users have shown strong engagement, with AI search users spending more time on site compared to typical site traffic.” The AI-powered shopping experience allows consumers to use conversational language to find the best options for their needs, compare models, and refine listing results based on their location and preferences. The experience is designed to help buyers at any stage of their journey, from early research to final selection. As a shopper’s search journey evolves, they can also revisit their unique URL to continue the conversation. Shoppers can discover their ideal car using intuitive prompts, such as the following examples: “I have three kids under 3. Help me find a car with high safety and reliability ratings.”“Show me the best cars with plenty of space for tall drivers.”“Show me reliable SUVs with blind spot monitoring under $30,000.”“Compare the best all-wheel drive vehicles for any terrain.” This release is the latest chapter in CarGurus’ long history of leveraging AI and machine learning to bring more trust, transparency, and efficiency to car buying and selling. AI and machine learning underpin the platform’s vehicle recommendation engine, its Instant Market Value tool, and on-site merchandising. For dealers, CarGurus provides actionable insights and predictive analytics that enable more informed decision-making across workflows, from pricing and merchandising to inventory acquisition. To see the AI shopping experience in action, visit: www.cargurus.com/discover or watch a demo here: https://cargur.us/1dB1cP. About CarGurus, Inc. CarGurus (Nasdaq: CARG) is a multinational, online automotive platform for buying and selling vehicles that is building upon its industry-leading listings marketplace with both digital retail solutions and the CarOffer online wholesale platform. The CarGurus platform gives consumers the confidence to purchase and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, effectively market, instantly acquire, and quickly sell vehicles, all with a nationwide reach. The company uses proprietary technology, search algorithms, and data analytics to bring trust, transparency, and competitive pricing to the automotive shopping experience. CarGurus is the most visited automotive shopping site in the U.S. 1 CarGurus also operates online marketplaces under the CarGurus brand in Canada and the U.K. In the U.S. and the U.K., CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands. To learn more about CarGurus, visit www.cargurus.com, and for more information about CarOffer, visit www.caroffer.com. CarGurus® is a registered trademark of CarGurus, Inc., and CarOffer® is a registered trademark of CarOffer, LLC. All other product names, trademarks and registered trademarks are the property of their respective owners. 1 Similarweb: Traffic Report [Cars.com, Autotrader, TrueCar, CARFAX Listings (defined as CARFAX Total visits minus Vehicle History Reports traffic)], Q1 2025, U.S.2Compared to Autotrader.com, Cars.com, TrueCar.com (YipitData as of December 31, 2024), and CarFax (Joreca as of December 31, 2024) Media Contact:Maggie MeluzioDirector, Public Relations & External Communicationspr@cargurus.com Investor Contact:Kirndeep SinghVice President, Head of Investor Relationsinvestors@cargurus.com A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/de81b41e-d38e-4f9b-8aa7-09e4fe2655d7 CarGurus' AI-Powered Car Shopping Experience CarGurus launches AI-powered car search, offering smarter, more personalized shopping with real-time...

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