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Cars ( (CARS) ) has issued an update.
On January 24, 2025, Cars.com Inc. announced its acquisition of Dealer Club Inc., a reputation-based digital wholesale auction platform, for a total potential price of $113 million. This strategic move aims to expand Cars Commerce’s presence in the $10 billion wholesale used car market by integrating DealerClub’s dealer-to-dealer auction capabilities, enhancing transparency and trust through its reputation system, and potentially accelerating AccuTrade adoption.
More about Cars
Cars Commerce, operating as Cars.com Inc., is an audience-driven technology company that simplifies the automotive buying and selling process. Its platform includes an automotive marketplace, dealer reputation site, digital marketing technology, trade-in and appraisal technology, and an in-market media network. The company is a key partner to the automotive industry, offering predictive AI technologies to enhance retail operations.
YTD Price Performance: 5.34%
Average Trading Volume: 555,321
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $1.15B
Learn more about CARS stock on TipRanks’ Stock Analysis page.
