Chicago—July 29, 2009—The Cash for Clunkers program (officially the Car Allowance Rebate System) that kicked off Monday has had an immediate impact on consumer interest in new cars on Cars.com. Consumer inquiries to dealers from the site by email and phone increased 62 percent week-over-week, and traffic to the site's Cash for Clunkers advice content nearly tripled in the same time frame.
"It's clear from looking at the traffic and consumer shopping behavior on Cars.com that the program is driving consumer interest and bringing shoppers into market. Early reports indicate that thousands of consumers have already taken advantage of the program," said Cars.com Editor in Chief Patrick Olsen. "Consumers need to keep in mind that the program ends Nov. 1 -- or whenever the funds run out. Based on early indicators, the program could run out of money before Nov. 1, which means consumers who want to take advantage of it should act now."
Cars.com recently launched a consumer guide to Cash for Clunkers to help consumers understand how they can take advantage of the new legislation and get a credit for trading in their old car and upgrading to a new, fuel-efficient model. Shoppers can check out the program's rules, double-check their clunker's value, see lists of eligible new cars, trucks and SUVs, and get Cars.com expert picks of some top cars to make the most of their Cash for Clunkers credit.
In addition to information about the new Cash for Clunkers law, Cars.com can help shoppers navigate their new-car-purchasing process with tools that make it easy to identify vehicles that meet their needs. Shoppers can take advantage of the site's Vehicle Recommender, expert and consumer reviews, and new-car inventory search to find the right car and a dealer who has it. Features such as Best Gas Mileage by Vehicle Class make it easy to identify fuel-efficient cars, trucks and SUVs that are ideal for shoppers looking to take advantage of Cash for Clunkers.
For more information, a list of rules and regulations, and scenarios showing how Cash for Clunkers might affect consumers, visit www.cars.com.
Cars.com is the leading destination for online car shoppers, offering credible, easy-to-understand information from consumers and experts to help buyers formulate opinions on what to buy, where to buy and how much to pay for a car. With comprehensive pricing information, side-by-side comparison tools, photo galleries, videos, unbiased editorial content and a large selection of new- and used-car inventory, Cars.com puts millions of car buyers in control of their shopping process with the information they need to make confident buying decisions.
Launched in June 1998, Cars.com is a division of Classified Ventures, LLC, which is owned by leading media companies, including Belo (N.Y.SE: BLC), Gannett Co., Inc. (N.Y.SE: GCI), The McClatchy Company (N.Y.SE: MNI), Tribune Company and The Washington Post Company (N.Y.SE: WPO).