|By Business Wire||
|January 22, 2014 10:03 AM EST||
CarGurus (www.cargurus.com), the nation’s fastest growing automotive shopping website, today released a new ranking algorithm that automatically detects and blocks suspicious online car listings from user search results. This latest upgrade to the free car-shopping service enables CarGurus to deliver even more relevant and reliable search results as shoppers look for the best local deals from the best dealers.
CarGurus’ new algorithm incorporates mathematical models that track typical selling patterns, then identify online listings that have generated a disproportionately high number of customer leads without selling, indicating the listing is being used to “bait” a customer into a dealership. While the majority of dealerships eschew such practices, the minority that advertise bogus listings have the potential to affect a high number of shoppers.
“The majority of dealers do not misrepresent their inventory, but the minority that do engage in these practices cause great frustration for many online shoppers, and we wanted to fix that,” said Langley Steinert, founder and CEO of CarGurus. “With this upgrade to our algorithm, we’ve found one more way to help consumers focus their car search and find great deals from reputable dealers.”
CarGurus uses a proprietary algorithm to compare and rank car listings. Every day, the company analyzes millions of listings and calculates the Instant Market Value (IMV) for each to determine whether a deal is great, good, fair or overpriced compared to similar local listings. Specific details factor into the analysis, including make, model, trim, year, mileage, options, location and vehicle history. The CarGurus algorithm also factors dealership reputation into its search results ranking. With this latest upgrade, suspicious listings are now blocked from user search results.
New and used car inventory on CarGurus is aggregated from dealerships around the country via electronic feeds from dealers’ inventory hosts. While the company offers advertising opportunities to dealerships, CarGurus’ organic search rankings are unbiased, driven solely by a mathematical algorithm.
Dealerships that believe their inventory was blocked in error should contact their CarGurus Account Manager at 1-877-695-9311 or at www.cargurus.com.
CarGurus (www.cargurus.com) is a leading online automotive destination focused on bringing transparency to the car research and shopping experience. Our free listings search tool helps shoppers compare available car listings from their desktop or mobile device and quickly identify the best deals in their local area. More than 7 million unique users visit CarGurus each month to research and shop for new and used cars.
Located in Cambridge, MA, CarGurus was founded in 2006 by Langley Steinert, co-founder and former Chairman of TripAdvisor.