Leading Brands in the US Automotive Marketplaces & Retailers: Q4 2023 Insights

Introduction

As the automotive marketplace evolves, understanding the digital presence and advertising strategies of leading brands is crucial. In Q4 2023, Carvana, CarGurus LLC, and CarMax distinguished themselves with significant user engagement across their websites and apps. Sensor Tower’s comprehensive data provides valuable insights into these trends, highlighting cross-platform user behavior and advertising strategies.

Carvana

Carvana's digital ecosystem includes its website, carvana.com, and the Carvana: Buy/Sell Used Cars app.

• Audience Trends: From Q3 to Q4 2023, carvana.com saw a steady increase in visits, rising from approximately 49M in September to over 55M in December. The monthly true audience remained stable above 7M throughout the quarter, with web-only visitors dominating.

• App Engagement: The app experienced fluctuations in monthly active users, dipping in October but recovering to nearly 700K by December, showing renewed interest in mobile platforms.

• Ad Spend & Channels: Carvana’s monthly ad spend decreased significantly from $6M in July to about $1.5M in December. OTT channels remained a primary focus, delivering substantial impressions.

CarGurus LLC

CarGurus LLC operates the website, cargurus.com, and the CarGurus: Used & New Cars app.

• Audience Trends: Visits to cargurus.com remained robust, peaking at around 86M in December. The monthly true audience hovered around 7.5M, with web-only visitors consistently outnumbering app users.

• App Engagement: The app maintained a steady monthly active user base above 1.5M throughout Q4, with a slight dip in November followed by a rebound in December.

• Ad Spend & Channels: CarGurus' monthly ad spend showed a downward trend, from over $1.2M in August to under $750K in December. Facebook and Instagram were key channels, driving significant impressions.

CarMax

CarMax’s digital offerings include carmax.com and the CarMax: Used Cars for Sale app.

• Audience Trends: CarMax's website visits varied, with a peak of over 52M in October. The monthly true audience remained steady, averaging around 6.8M throughout Q4.

• App Engagement: The app's monthly active users were consistent, ending the year at approximately 680K.

• Ad Spend & Channels: CarMax’s monthly advertising spend decreased from about $3.8M in July to $2M in December, with OTT and YouTube being prominent channels.

Conclusion

The analysis of Carvana, CarGurus LLC, and CarMax in Q4 2023 reveals distinct strategies and user engagement patterns. Sensor Tower’s unique capabilities provide unparalleled insights into these trends, offering a comprehensive view of digital behavior across platforms. For more detailed insights, explore our Web Insights, App Performance Insights, and Pathmatics offerings.