Carvana reportedly expects that as more new vehicles are built, the company’s used car business will benefit. “There will likely be much more car production, and that will probably bode well,” Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event...
European used car platform Auto1 is deepening its artificial intelligence (AI) focus amid record profits. The company on Wednesday (May 8) reported quarterly earnings showing $175 million in gross profits, a 23% increase year over year. While discussing this milestone on the company’s earnings call,...
An increasing number of drivers reportedly owe more on their loans than their cars are worth. It’s a situation known as negative equity, and last month, American consumers were “underwater” on their loans by an average of $6,054, the most since April 2020, Bloomberg News reported...
At auto dealerships around the country, electric cars have reportedly become a hard sell. Consumers are worried about the price, range and reliability of these vehicles, The Wall Street Journal reported Sunday (Dec. 10), citing interviews with dealers. Among them is Paul LaRochelle, a vice president...
April 29, 2021
Americans have always had a love affair with the car, which was first coined in 1961 as part of a television series designed to intensify that passion. The last 12-plus months have seen that love affair grow stronger still, as consumers, en masse, left the cities, public transportation and ride-hailing services behind. Work for home and the […]
April 20, 2020
In the world of the coronavirus pandemic, good news is a relative concept. For example, a recent round of headlines touted “stronger than expected auto sales” in the U.S. during...
May 14, 2024
Carvana reportedly expects that as more new vehicles are built, the company’s used car business will benefit. “There will likely be much more car production, and that will probably bode well,” Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event near Detroit, Bloomberg reported Tuesday. Online car shopping guide Edmunds said in April that new […]
May 08, 2024
European used car platform Auto1 is deepening its artificial intelligence (AI) focus amid record profits. The company on Wednesday (May 8) reported quarterly earnings showing $175 million in gross profits,...
December 17, 2023
An increasing number of drivers reportedly owe more on their loans than their cars are worth. It’s a situation known as negative equity, and last month, American consumers were “underwater”...
December 10, 2023
At auto dealerships around the country, electric cars have reportedly become a hard sell. Consumers are worried about the price, range and reliability of these vehicles, The Wall Street Journal reported...
