Brian Kraft

Brian Kraft from Deutsche Bank asked about the current conversion rates for both new and used vehicles, and how these rates compare between 360L and non-360L enabled vehicles, specifically if 360L is improving conversion. He also inquired about trends in used car trials, whether they are still growing, and if macro pressures are impacting their growth.

Answer

CEO Jennifer Witz acknowledged a healthy trial funnel but noted potential headwinds in 2026 due to estimated reductions in new vehicle purchases. She stated that used car penetration rates continue to grow (around 60%), with strong dealer relationships ensuring a good customer experience. She confirmed that 360L conversion rates are better than non-360L, and even better for 360L on AAOS, attributing this to the data insights gained from 360L that enable personalized marketing and product recommendations, which are expected to drive meaningful lift in conversion as capabilities are fully implemented this year.

Brian Kraft from Deutsche Bank asked for commentary on conversion rates for both new and used vehicles, specifically comparing 360L-enabled vehicles to non-360L. He also inquired about the trends observed in used car trials, including whether they are still growing and if any macro pressures are impacting this growth.

Answer

CEO Jennifer Witz acknowledged a healthy trial funnel but noted potential headwinds in 2026 due to anticipated reductions in new vehicle purchases. She stated that used car penetration is growing (around 60%), supported by strong dealer relationships. Ms. Witz confirmed that 360L-enabled vehicles show better conversion rates than non-360L, with even higher rates observed for 360L on AAOS (Android Automotive OS). She emphasized ongoing investments in programs, pricing, packaging (e.g., low-cost ads, music-only), and personalization capabilities to improve conversion and customer experience.