Customer BaseCars.com ended Q3/24 with 19,255 dealer customers, down 135 dealers sequentially.
Growth VisibilityOrganic growth remains weak, particularly in the context of peers, and visibility around ancillary product uptake and growth re-acceleration is needed for re-rating.
Sales MomentumIn Q2/24, Cars.com lost considerable sales momentum stemming from the CDK cyber incident as the company is over indexed to franchised dealerships that rely on CDK.