Leading Brands in the U.S. Automotive Marketplaces & Retailers Category in Q3 2023

The U.S. automotive marketplaces and retailers sector has demonstrated significant activity in Q3 2023. This article highlights the performance of three leading brands: CarGurus LLC, Carvana, and CarMax. Each brand showcases unique strengths across web and app platforms, illustrating the diverse ways consumers engage with automotive marketplaces.

CarGurus LLC

CarGurus LLC is a prominent player known for its comprehensive digital car shopping solutions, accessible via its website, cargurus.com, and the CarGurus: Used & New Cars app.

• Audience Trends: CarGurus maintained a stable monthly true audience consistently above 8M throughout the quarter. The website attracted significant traffic, peaking at over 91M monthly visits in August before a slight decline in September.

• App Engagement: The app’s monthly active user base remained strong, reaching close to 1.6M in August, reflecting a consistent interest in mobile platforms.

• Ad Spend & Channels: CarGurus invested in diverse channels, with total monthly ad spend nearing $1.2M in August. OTT (Over-the-top media service) and Facebook were notable channels, delivering substantial impressions.

Carvana

Carvana stands out for its innovative online car buying solutions, available through its website carvana.com and the Carvana: Buy/Sell Used Cars app.

• Audience Trends: Carvana experienced fluctuating web traffic, with monthly visits dropping from over 100M in July to under 50M in September. The monthly true audience remained above 7M, with a balanced split between web and app users.

• App Engagement: The app saw a decline in monthly active users, from around 870K in July to approximately 720K by September, indicating shifts in user engagement.

• Ad Spend & Channels: Carvana’s monthly ad spend decreased significantly from $6M in July to under $3M in September. OTT was the primary channel, yielding the highest impressions despite reduced spending.

CarMax

CarMax is renowned for its customer-centric car buying experience, facilitated through carmax.com and the CarMax: Used Cars for Sale app.

• Audience Trends: CarMax’s website traffic showed a downward trend, decreasing from over 61M monthly visits in July to around 45M in September. Monthly true audience numbers hovered around 7M for the quarter.

• App Engagement: The app maintained steady activity, with monthly active users peaking at over 700K in August.

• Ad Spend & Channels: CarMax’s monthly ad expenditure was consistent, with a notable increase to over $4M in September. Instagram and YouTube were key channels, driving substantial engagement and impressions.

Conclusion

The Q3 2023 analysis of CarGurus LLC, Carvana, and CarMax underscores how these brands leverage web and app platforms to effectively engage their audiences. Sensor Tower’s comprehensive data capabilities provide detailed insights into these trends, offering unique cross-referencing of web, app, and advertising metrics. This data is invaluable for understanding cross-platform user behavior in the competitive automotive marketplace sector.

Explore Sensor Tower’s Web Insights, App Performance Insights, and Pathmatics for further insights into market dynamics.