Carvana has opened its newest car vending machine in Charlotte, N.C., bringing the number of vending machines it operates nationwide up to nine and the number it operates in the state up to two, according to a company announcement.
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Westlake Financial Services will now list its vehicles on SmartAuction, as part of an agreement between Westlake and Ally Financial, according to a company announcement.
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AutoNation saw more used vehicle sales and higher used vehicle profits during its most recent quarter, on a same-store basis, according to AutoNation’s first quarter earnings call.
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Revenue growth was driven by a 5% increase in total rental days and strong pricing.
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Manufacturers may choose to absorb higher federal interest rates on new vehicles to keep prices from rising higher than they have been with heavier incentives, but this could have an adverse effect on residual values.
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The Jeep Wrangler Unlimited retained the highest percentage of its value after the first year of ownership, according to analysis conducted by ISeeCars.com, a consumer shopping portal for used cars.
Read More →Insurance Auto Auctions, a business unit of KAR Auction Services, has opened a new branch in Casper Wyoming, according to a company announcement.
Read More →The numbers reveal a number of factories, including Ford, are targeting compact and midsize inventory. Ford offered the most generous discounts on vehicles in those segments.
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The average transaction price of a new car in April was $35,411, a 2% increase year-over-year, according to a Kelley Blue Book report.
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Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.
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