CAMBRIDGE, Mass., April 28, 2021 (GLOBE NEWSWIRE) — CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced that Brad Rosenfeld has joined the company as its Executive Vice President of Digital Retail Commercialization. In this new role, he will be responsible for overseeing the company’s path to further developing and monetizing its digital retail business.
“I am elated to welcome Brad to the CarGurus team,” said Sam Zales, President and COO of CarGurus. “Brad’s extensive expertise in helping brick and mortar retail businesses into the digital world will be a fantastic addition to CarGurus as we create more digital retail capabilities to help consumers and dealers buy and sell vehicles online. His proven track record in innovating new e-commerce business models will be tremendously valuable as we continue to advance our digital retail capabilities.”
According to CarGurus research, 60% of US consumers are now open to purchasing a vehicle online. As both the most visited automotive shopping site in the U.S.1 and the one with the largest dealership network2, CarGurus is uniquely suited to meet this need by building a digital retail platform to connect this engaged shopping consumer audience with its dealership partners. To date, CarGurus has introduced its Finance in Advance feature that enables shoppers to pre-qualify for financing online3, and recently announced early access for dealerships to CarGurus Convert, a digital retail product that allows shoppers to estimate the value of their trade-in, select finance and insurance products, and pre-qualify3 for financing all online before directly contacting a dealer.
As CarGurus broadens its dealership offerings into digital retail, it is developing online tools and products to help both consumers and dealers buy and sell vehicles online and with the flexibility to conduct as much or as little of that transaction online as each prefers. Rosenfeld will be charged with advancing this digital retail strategy and driving successful commercialization through CarGurus’ global network of more than 30,000 subscribing dealer partners.
“CarGurus’ success lies in being on the cutting edge and keeping its finger on the pulse of what matters most in automotive retail, including providing digital retail offerings that connect its high-converting consumer audience with the largest dealer network in the market,” said Brad Rosenfeld, Executive Vice President of Digital Retail Commercialization at CarGurus. “I am thrilled to join such an impressive team at such an important juncture in automotive retail, and I look forward to working with CarGurus’ employees, dealership customers and industry partners on scaling the company’s digital retail product lineup.”
Prior to joining CarGurus, Rosenfeld spent nearly a decade at Amazon where he held several global business leadership positions focused on building and scaling e-commerce businesses, with a specialization in helping physical businesses with their digital transformations. This includes leading their digital music business unit in southern Europe, scaling and managing both Amazon’s Publishing and Books Enterprise businesses and overseeing its Competitive Strategy and Consumer Scaling Technology Team for Amazon in Japan. He holds an M.B.A from Vanderbilt University’s Owen Graduate School of Management and a B.A from the University of Denver.
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 most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q4 2020, U.S. (Competitive set includes: CarGurus.com, Autotr