DETROIT -- Cars.com last week purchased NewCars.com, a Web site that generates sales leads for dealers. Terms were not disclosed.
Cars.com, an online classified advertising service in Chicago, said the acquisition bolsters its presence in the new-car market and is aimed at increasing its advertising reach with dealers.
Cars.com has listings of more than 1.4 million vehicles on its site.
NewCars.com of Santa Monica, Calif., becomes a division of Classified Ventures, Cars.com's parent company. Classified Ventures is a joint venture of six large media companies, including Gannett Co., Knight-Ridder Inc. and Tribune Co. It runs online listings for cars, apartments and homes in connection with local media.