CarGurus to wind down CarOffer after strategic reassessment

CarGurus (CARG) said its board determined, hat it is in the best interests of its stockholders to wind down CarOffer, including the Dealer-to Dealer and Instant Max Cash Offer products. “Following the broader strategic reassessment, CarGurus concluded that the CarOffer Transactions Business has proven less effective in today’s more volatile and unpredictable pricing environment, where dealers require more flexibility and broader automation to streamline fulfillment than the model could provide. Following the wind-down, CarGurus will continue to deliver AI-powered inventory intelligence through its insights platform and enable consumer vehicle sourcing at scale through Sell My Car – Top Dealer Offers and will focus on technology and analytics that will enable smarter sourcing and pricing decisions rather than facilitating the transactions themselves,” the company said in a statement. CarGurus expects to complete the wind-down activities in the second half of 2025. As a result of the intended wind-down, the company expects to incur total expenditures in the range of approximately $14M to $19.0M.