IHS Markit Ltd. INFO owned Carfax yesterday announced a partnership with Gubagoo, a conversational commerce solutions provider to original equipment manufacturers (“OEMs”) and Automotive Dealerships.
Online car shoppers, using Gubagoo's chat and digital retailing solutions on dealer websites, will now have free access to Carfax’s vehicle history reports.
Based on more than 20 billion records collected from more than 112,000 data sources, these reports provide maintenance, accident, odometer and commercial use information on cars.
They help increase dealers' and shoppers' confidence in the used car buying process and will now extend this confidence to those associated with Gubagoo, thus expanding IHS Markit’s foothold in the used car market.
"We know consumer knowledge of the vehicle history improves trust with dealerships, leads to better informed buying decisions and increases sales conversion on used vehicle inventory," said Scott Fredericks, Carfax vice president of marketing.
Shares of IHS Markit have gained 32.4% year to date, significantly outperforming the 12.1% rally of the Zacks S&P 500 composite.
Zacks Rank and Stocks to Consider
IHS Markit currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector include Fiserv FISV, Booz Allen Hamilton BAH and Charles River Associates CRAI, each presently carrying a Zacks Rank #2 (Buy).
The long-term expected EPS (three to five years) growth rates for Fiserv, Booz Allen and Charles River are 12%, 13% and 13%, respectively.
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IHS Markit Ltd. (INFO) : Free Stock Analysis Report
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