BOSTON, Jan. 26, 2021 (GLOBE NEWSWIRE) -- CarEdge.com announced today that it has completed Phase I of its automotive research and listings website, to compete directly with auto research sites Edmunds, KBB, JD Power, Black Book and Consumer Reports. The company’s website also reached 1,300,000 unique visitors and 6,000,000 page views*. The new version of the site features in-depth vehicle cost analysis on over 250 vehicle models from over 30 vehicle manufacturers, including resale values, depreciation rates, maintenance and repair expenses, and insurance costs. CarEdge also introduced its Total Cost to Own Dashboard, providing consumers with a comprehensive overview of all significant vehicle ownership and operating costs.
To offer vehicle shoppers further transparency, CarEdge ranks vehicles on multiple metrics, including depreciation, maintenance and insurance costs, and total cost of ownership. These rankings display not only the best makes and models in each category, but also the worst—a unique approach within the auto industry. The website also provides auto consumers with a depreciation forecast calculator, and depreciation comparison tool, as well as an industry-first loan calculator, which displays a pro-forma loan balance versus the depreciating value of a vehicle.
To remain objective and unbiased in its analysis and rankings, CarEdge continues to provide auto dealers with FREE customer leads for site visitors who enquire about any of the 4 million+ listings on its website. This policy is consistent with the company’s mission of advocating for automotive consumers, without the inherent conflict of receiving revenues for those leads. The company does not sell its customer data, but instead relies on general advertising revenue from site traffic. CarEdge also provides its vehicle analytics and data to other auto- and financial-related entities, who have an interest in depreciation data, as well as overall vehicle operating costs.
CarEdge.com has proven to be very appealing to vehicle shoppers looking to make better-informed, more-educated decisions around their vehicle purchases. The company believes that shifting consumer sentiments towards ‘value’ shopping and increased transparency, coupled with heightened economic uncertainty, will benefit the company’s unique, consumer-focused business model.
Speaking to the company’s announcements, CarEdge’s President, Scott Baker, states, “The completion of Phase I of our site is a big milestone in the company’s development. Our team, and our investors, continue to be very encouraged with the interest that we are receiving from vehicle shoppers, and with our consumer-advocacy approach. Our data and analysis are also being validated in the business community, as there is strong interest in our research and data.” Baker further added, “We have achieved a lot recently, and we are all excited about executing on the next phase of our strategic plan.”
CarEdge.com is an ‘Advocate for Car Shoppers’; providing auto buyers with the professional analytical tools needed to make more-informed decisions in their vehicle purchasing process. It is CarEdge.com’s goal is to be the ‘go-to’ site for serious car and truck shoppers, who are focused on securing a good ‘value’ in their vehicle purchase. The company believes that its unique approach of providing vehicle shoppers with total transparency, with unbiased research and data, will become the standard by which other auto research and listing sites are judged.
*Site visitors are organically-sourced, with virtually no paid advertising. The figures also include website traffic from CarEdge.com’s predecessor site, UsedFirst.com. Source: Google Analytics