Cars.com reported that its operating expenses were 19 percent below the same quarter in 2019. The company took a series of cost-cutting steps as the pandemic spread across the U.S. this spring. Cars.com shares surged higher despite a down day on Wall Street.
Steve Rowley, executive vice president of the Cox Business commercial unit, will succeed Sandy Schwartz as president of the dealership services giant starting Monday. Rowley and Schwartz will work together on the leadership transition at Cox Automotive.