Tax Season Turbocharges Car Market: Dealers and Buyers Gear Up for a Surge in Shopping Activity, According to Cars Commerce March Industry Insights Report
CHICAGO, April 11, 2024 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce Inc."), an audience-driven technology company empowering the automotive industry, today launched its March Industry Insights Report. Crafted by an expert team of Cars Commerce data analysts, the report provides macro and micro automotive market insights by analyzing supply, demand, pricing and consumer behavior data from across the company's platform, including its flagship marketplace and leading reputation site Cars.com®, digital solutions and website provider Dealer Inspire, and trade-in and appraisal technology provider AccuTrade.
- "), an audience-driven technology company empowering the automotive industry, today launched its March Industry Insights Report .
- "As tax-return season approaches, both dealers and consumers are gearing up for a surge in car-buying activity.
- Dealers have expanded their new-car inventory by nearly 9% month-over-month, and consumer searches for new cars are on the rise by almost 4%.
- This increased activity indicates a strong consumer readiness to utilize tax refunds for vehicle purchases," said Rebecca Lindland, senior director of industry data and insights at Cars Commerce.