UAW Strike Against GM Cools Consumer Interest [Forbes]
CarGurus, Inc. - Class A (CARG)
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Source: Forbes
UAW Strike Against GM Cools Consumer Interest Labor unrest at General Motors Corp. may be affecting consumer interest in its brands, according to an analysis by online automotive marketplace CarGurus.com. In his analysis, George Augustaitis, Director of Industry and Economic Analysis at CarGurus discovered a sharp reversal from an upswing in search share for GM’s brands as contract talks with the UAW broke down. “You do see a rise from Sept. 7 through about the 14th, a rise in share, then you see the drop off right when you see the story break that the UAW was going to go on strike on Sunday at midnight,” said Augustaitis in a phone interview. “That is exactly when the major drop off happened and that’s when they actually hit the year low.” To illustrate his analysis, Augustaitis generated the graph below. The blue line indicates year-to-date search share for GM’s brands. Consumer interest was high over the summer highlighted by the launch of the mid-engine Chevrolet Corvette. But as
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News
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- CarGurus, Inc. (NASDAQ: CARG) had its "market perform" rating re-affirmed by analysts at JMP Securities.MarketBeat
- The five-year shareholder returns and company earnings persist lower as CarGurus (NASDAQ:CARG) stock falls a further 4.2% in past week [Yahoo! Finance]Yahoo! Finance
- CarGurus: Repositioned For Growth [Seeking Alpha]Seeking Alpha
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