CarGurus CEO answers your questions on Trade Plates TV

Time 9:29 am, June 22, 2016

CEO AND founder of CarGurus Langley Steinert has big aspirations for his business in the UK and he’s not afraid to shout about it.

With only six months in the market, he explained that the website was already surpassing what they experienced when they launched in the US nine years ago.

In today’s Trade Plates show, Rebecca Chaplin put your questions and concerns to the man himself in a no-holds-barred interview. Click play on the video below to see what answers he gave.

Several car dealers got in touch with Trade Plates TV to ask whether the rankings on the website to show consumers if a car was a good buy or was overpriced were misleading to customers.

Steinert explained: ‘There’s two things dealers care about. One is scale. Can you deliver a significant number of leads to my store? And what we’re finding in the US is we’re delivering more leads than any other partner. There’s a reason for this. When a consumer comes off our platform looking at a car, there’s something really unique that’s going on.

‘They’re going to that dealership with the third-party validation that this is a fair, good or great deal. They already feel comfortable about that, so they’re more apt to buy that car rather than coming off a competitor’s site where there’s absolutely no price validation.

‘Our experience in the US, and we’re seeing similar trends in the UK, is in the leads that are coming across. There is a much higher close rate because they’ve got that third-party validation built in.’


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