CarGurus Survey Finds Canadians Value Function Over Flash When It Comes To Car Care

Car owners take pride in their car's longevity and function, are less concerned with aesthetics

CAMBRIDGE, Mass., May 9, 2018 /CNW/ -- CarGurus, a leading online automotive marketplace, today released a survey uncovering what Canadians prioritize when it comes to vehicle upkeep. The survey's findings showed that Canadian car owners care most about keeping their cars performing well and lasting long.

There's no shortage of Canadian car pride
When it comes to car care it's not about keeping that new car smell, it's about keeping that new car driving.

• When asked what they are most proud of about their car, 49 per  cent said how well it runs as opposed to aesthetics like its cleanliness or exterior appearance.
• 62 per cent said they take a lot of pride in their car and its condition.
• 30 per cent of Canadians say personal pride is the top reason they are motivated to keep their car in good condition.

It's not easy to say goodbye
Most Canadians don't want to think about a new car until they have to.

• When asked which factor would mostly likely prompt someone to consider buying a new car, 76 per cent chose reliability.
• Few respondents selected choices like new model releases (5 per cent) or dents and damaged bodywork (5 per cent) as important factors.
• All it takes for 7 per cent of Canadians to consider buying a new car is for their current model to stop feeling new or exciting.

This is a no smoking zone
Canadians are OK with a little mess in their cars, but draw the line at cigarette smoke.

• 78 per cent of Canadians would not let anyone smoke in a newly purchased car.
• Only 9 percent were most likely to forbid eating, followed by pets (6 per cent) and kids (3 per cent).
• Nearly one third of respondents said they clean their car's interior less often than every 4 months.

Don't judge a car by its clutter
Canadians take pride in their car's condition and notice if others do too.

• 45 per cent agree that they judge a person by the state of their car's interior while just 21 per cent disagree.
• 33 per cent agree that they judge a person by the condition of their car's exterior while just 24 per cent disagree.

"Buying a car is one of the largest investments a person makes, which motivates a lot of people to do whatever they can to increase the longevity of the vehicle," said Matt Smith, senior editor for CarGurus. "This survey showed Canadians' penchant for maintaining performance and their prioritization of reliability, revealing a sense of pride in getting the most out of their investment."

Methodology
These findings are based on an online survey of 1,000 randomly selected Canadians, 18 years of age or older. The survey was carried out by Google Surveys and issued in March 2018.

About CarGurus
Founded in 2006, CarGurus (Nasdaq: CARG) is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The Company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers. CarGurus is the largest automotive shopping site in the U.S. by unique monthly visitors (source: ComScore Media Metrix Multi Platform, March 2018). In addition to the United States, CarGurus operates online marketplaces in Canada, Germany, Italy, and the United Kingdom. To learn more about CarGurus, visit www.cargurus.ca.

CarGurus^® is a registered trademark of CarGurus, Inc.

Cautionary Language Concerning Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding our future financial and business performance for the second quarter 2018 and full-year 2018, attractiveness of our product offerings and platform, the value proposition of our products and our market awareness, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "intend," "guide," "may," "will" and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks related to our rapid growth and ability to sustain our revenue growth rate, our relationships with dealers, competition in the markets in which we operate, market growth, our ability to innovate and manage our growth, our ability to expand effectively into new markets, our ability to operate in compliance with applicable laws as well as other risks and uncertainties set forth in the "Risk Factors" section of our Quarterly Report on Form 10-Q, filed on May 3, 2018 with the Securities and Exchange Commission (SEC), and subsequent reports that we file with the SEC.  Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

SOURCE CarGurus