Leading Automotive Marketplaces & Retailers in Q4 2023: A Sensor Tower Analysis

Introduction

In the dynamic landscape of automotive marketplaces and retailers, brands like CarGurus LLC, Carvana, and Cars.com have emerged as leaders in the US market. This article delves into the performance and trends of these brands from Q3 to Q4 2023, leveraging Sensor Tower's comprehensive data, including web, app, and advertising insights. Sensor Tower's unique cross-referencing capabilities provide unparalleled insights into cross-platform user behavior, essential for understanding market dynamics.

CarGurus LLC

CarGurus LLC's digital presence includes its website, cargurus.com, and the CarGurus: Used & New Cars app.

• Audience Trends: From October to December 2023, cargurus.com experienced a fluctuation in unique visits, starting at around 6.4M and ending the year with approximately 6.3M. The monthly deduplicated audience remained stable above 7.2M throughout the quarter.

• App Engagement: The app's monthly active users hovered around 800K, indicating a consistent mobile user base.

• Ad Spend & Channels: CarGurus saw a decline in monthly ad spend from over $1.1M in October to just below $800K in December, with a notable focus on Facebook and OTT channels, which collectively garnered significant impressions.

Carvana

Carvana's platform includes carvana.com and the Carvana: Buy/Sell Used Cars app.

• Audience Trends: Carvana.com witnessed a steady increase in unique visits from around 6.2M in October to approximately 7.6M in December. The monthly deduplicated audience showed a similar upward trend, surpassing 7.7M by the end of the quarter.

• App Engagement: The app maintained a stable monthly active user base, with active users slightly decreasing from over 430K in October to about 410K in December.

• Ad Spend & Channels: Carvana's monthly ad spend decreased significantly, from nearly $3.9M in October to under $1.6M in December, with OTT being the dominant channel for impressions.

Cars.com

Cars.com features its website, cars.com, and the Cars.com - New & Used Cars app.

• Audience Trends: Cars.com saw a slight increase in unique visits from 6.2M in October to about 6.1M in December. The monthly deduplicated audience remained consistent, hovering around 6.5M.

• App Engagement: The app's monthly active users showed a slight decrease, ending the year with approximately 1.2M users.

• Ad Spend & Channels: Cars.com increased its monthly ad spend from around $1M in November to over $1.2M in December, with Facebook and Instagram as key channels, driving substantial impressions.

Conclusion

The Q4 2023 data from Sensor Tower highlights the diverse strategies and market positions of CarGurus LLC, Carvana, and Cars.com. Each brand demonstrates unique strengths across web and app platforms, with varied advertising approaches. Sensor Tower's comprehensive data offerings, including Web Insights, App Performance Insights, and Pathmatics, provide critical insights into these trends, underscoring its essential role in market analysis.

By leveraging Sensor Tower's data, decision-makers can gain a competitive edge, understanding not only current market dynamics but also anticipating future trends.