CarGurus Adds Dealer-Facing AI Pricing Tool
CarGurus has leveraged AI to improve upon its existing used vehicle pricing technology, adding PriceVantage, a new tool designed to help dealers determine values based in part on real-time demand.
Executives say PriceVantage uses machine learning to convert shopper behavior and inventory datasets into highly informed pricing recommendations — as well as estimated lot times — for a given unit.
In a release announcing Cars.com’s Q3 performance, CEO Jason Trevisan says the launch of Carson and other AI-powered tools will help deepen dealer and customer relationships.
“Our product innovation is driving measurable ROI across more areas of the dealership, like inventory, pricing, marketing and data intelligence,” he writes. “That adoption, coupled with strong execution, has fueled solid growth in both our U.S. and international businesses.”
