CHICAGO, Feb. 11, 2013 /PRNewswire/ -- Cars.com, the leading online automotive marketplace, today announced a strategic investment in RepairPal, the leading online source for auto repair. The investment positions Cars.com to further develop the service category with solutions for consumers seeking help and advice when it comes to maintaining their vehicles, and for dealerships looking to boost their service business.
"Cars.com has always been a trusted and credible source of information in the shopping process. Consumers rely on us at all stages of buying for research, advice and reviews to guide their vehicle and dealership selection," said Cars.com president, Mitch Golub. "But when it comes to maintaining a vehicle, there is a lot of confusion among consumers. We see an opportunity to transform the repair category and provide vehicle owners the same credible advice they have come to depend on us for when it comes time to service or repair their car."
"More than 86 percent of cars on the road today are past warranty. At a time when vehicle owners are holding onto their cars longer than ever, it's critical that they have access to high quality independent information about repairs, maintenance advice and associated costs," said RepairPal CEO, Art Shaw. "We are excited to deepen our relationship with Cars.com and work together to bring their audience new solutions for managing vehicle ownership."
Cars.com also intends to develop new offerings to help its local dealer partners reach vehicle owners in need of service and repair and to more effectively compete for their business. "We already see a high level of interest in service and repair from our visitors. In fact, more than a quarter of dealership reviews on our site are about a service and repair experience," said Golub. "By providing our large audience access to even more credible information about service and repair providers, we can help drive additional value to our advertisers' business, driving results for their fixed operations, in addition to new and used car sales," Golub added.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts