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,...
CarMax is deploying tech solutions to boost efficiency as it continues to deal with a tough environment for buying and selling used cars. “Fiscal 2024 was a challenging year across the used car industry as vehicle affordability and widespread macro factors continue to pressure sales,” CarMax...
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...
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...
December 13, 2019
Twenty-minute test drives are so 20th century. Thanks to digital technology and shifting consumer habits and expectations, that longstanding feature of consumer and automotive culture could face extinction, at least in the longer term. That is by no means certain — more about that in a bit — but that prediction stands as one of […]
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, a 23% increase year over year. While discussing this milestone on the company’s earnings call, CEO Christian Bertermann also spent some time exploring Auto1’s efforts […]
April 11, 2024
CarMax is deploying tech solutions to boost efficiency as it continues to deal with a tough environment for buying and selling used cars. “Fiscal 2024 was a challenging year across the...
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...
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”...
