A recent Wall Street Journal article by Joseph T. Hallinan highlighted the recent drops in auto advertising of the newspaper publishing companies including the Tribune and McClatchy Co. According to the article:
Revenue from auto classifieds has now fallen for seven straight quarters, to $1.01 billion in the third quarter of 2005 from $1.16 billion in the second quarter of 2004, according to the Newspaper Association of America, a Vienna, Va., industry trade group.
These same newspaper publishing companies have been hedging the print classified losses with investments in a company called Classified Ventures, LLC which owns Cars.com and was also mentioned in Hallinan's WSJ article. As the trend or declines continue Cars.com will continue to be in an excellent position to be successful in the online auto space.
*Image thanks to post-gazette.com
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Posted by: Karen | Saturday, September 06, 2008 at 11:50 PM