Automotive classified site Cars.com announced this week that it has entered an agreement to acquire DealerRater, a consumer review website focused on car dealerships. According to the company’s official statement, the acquisition is expected to close by the end of next month; terms of the transaction were not made public.
Boasting 2.5 million reviews of more than 40,000 U.S. and Canadian car dealerships, DealerRater’s database and industry penetration will complement Cars.com’s classified listings and car and dealer reviews section. In addition to offering better information on dealerships for car buyers, the integration of Cars.com and DealerRater will expand the site’s coverage of local dealers, helping them manage their online reputations and engage directly with consumers.
“We are pleased to bring DealerRater into the Cars.com family of industry-leading products and people as we create the largest dealer review platform in the automotive sector,” said Alex Vetter, Chief Executive Officer and President of Cars.com. “With this acquisition, Cars.com has solidified its position as the leader in online automotive reviews and the preeminent authority for car shoppers and owners on what to buy, where to buy and who to buy from.”
Launched in 1998, Cars.com is one of the largest and oldest websites with vehicle listings. The site also has a dedicated news section where it aims to offer objective editorial content to educate audience about car buying and maintenance.