(Bloomberg) — Carvana Co. shares have doubled this year, and more head-scratching moves could be in store for the debt-strapped online used-car retailer amid bets the rally won’t last. Most Read from Bloomberg
Read More
Arrival said it was laying off 50 percent of its employees in a move that will help halve its cash operating expenses, as the UK-based electric-vehicle startup tries to ride out a cash
Read More
Are dealers’ good times coming to an end? Dealers fear the optimal economic conditions that propelled them to three straight years of robust profits are further eroding. And though demand for both new
Read More
Should you buy a CPO car? (iSeeCars) — Buying a new car is more expensive than ever, with the average new car price exceeding $40,000. Although used cars are more affordable, you might
Read More
For Groves, it seems that a metaphorical switch was flipped at the end of 2022, particularly in October and November. “When you watch new-car lots — mine, anybody else’s — start to pick
Read More
A used car dealership has been shut down and its owners charged with fraud for making more than $70,000 from fraudulent sales, according to state police. Ilham Driouich, 23, of Enola, and Anas
Read More
And worries about the economy and the possibility of recession are growing. Dealers in particular fret that persistently high vehicle prices and spiking interest rates are putting a dent in consumer demand. The
Read More
The brand has said “certified” dealers must invest about $500,000 toward the program, while the higher tier, called “certified elite,” requires up to $1.2 million. Much of that goes toward charging equipment. Dealers
Read More
If it feels like it used to be easier to find used cars that were both affordable and appealing, that’s because it was. The average price of a used car soared beyond $30,000
Read More
One factor that could slow the pace of acquisitions is rising interest rates. Kenningham acknowledged that rate hikes have increased the cost of capital for making acquisitions. “You have to be careful because
Read More