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,...
Cazoo’s days of selling used cars are coming to an end. The U.K. company plans to transition into a “pure play” automotive marketplace, Cazoo said in a Wednesday (March 6) news release, the latest example of an online car seller shifting its focus amid a tough...
Online car retailer Carvana is tightening its lending standards in response to higher delinquency rates. The company is requiring higher down payments from customers and placing limits on maximum payments, Chief Financial Officer Mark Jenkins told Bloomberg News in a report posted Friday (March 1)....
Online used car firm Carvana has reportedly turned around its operations and debt over the past 18 months, lifting its stock price from $5 to $55. Company CEO and Chairman Ernie Garcia, III is optimistic about the future, believing that much of the cost-cutting is...
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,...
March 06, 2024
Cazoo’s days of selling used cars are coming to an end. The U.K. company plans to transition into a “pure play” automotive marketplace, Cazoo said in a Wednesday (March 6) news...
March 01, 2024
Online car retailer Carvana is tightening its lending standards in response to higher delinquency rates. The company is requiring higher down payments from customers and placing limits on maximum payments,...
