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J.D. Energy’s Used Automobile Value Index hit a file excessive final month. Via October, used-vehicle costs have been on common 37 % increased than in 2020, with no indicators of softening, J.D. Energy stated Tuesday in a market replace. And for the primary time in additional than 25 years, used-vehicle costs rose in October over

The Nationwide Auto Public sale Affiliation’s annual conference has been postponed, with no make-up date given by the group. The present had been set for Sept. 28-30 in Chicago. The affiliation despatched a press release Friday that mentioned the choice to postpone the occasion comes after suggestions from its members and companions. “Sadly, we’re nonetheless

The Nationwide Auto Public sale Affiliation’s annual conference has been postponed, with no make-up date given by the group. The present had been set for Sept. 28-30 in Chicago. The affiliation despatched a press release Friday that mentioned the choice to postpone the occasion comes after suggestions from its members and companions. “Sadly, we’re nonetheless

Toyota and Honda are among the many automakers which can be seeing rising take charges for sportier variations of mainstream sedans and hatchbacks — a development that’s rising as utility autos and pickups make up about 80 per cent of all new-vehicle gross sales in Canada. The Toyota Camry, as soon as the poster automotive

Penske Automotive Group and dealership know-how firm Cox Automotive have teamed up on a brand new online-buying platform for used autos that has rolled out initially to Penske’s seven CarShop used-vehicle-only shops within the U.S. The know-how, Esntial Commerce, was co-developed by Penske, the second-largest auto retailer primarily based within the U.S. final 12 months,

Penske Automotive Group and dealership expertise firm Cox Automotive have teamed up on a brand new online-buying platform for used automobiles that has rolled out initially to Penske’s seven CarShop used-vehicle-only shops within the U.S. The expertise, Esntial Commerce, was co-developed by Penske, the second-largest auto retailer primarily based within the U.S. final yr, and

The record-breaking rise in used-car costs might be coming to an finish — and with it a key driver of the latest spike in U.S. inflation. The bellwether of the trade — the wholesale market the place sellers purchase and promote in bulk — has already topped out and costs of particular person secondhand automobiles

The record-breaking rise in used-car costs might be coming to an finish — and with it a key driver of the current spike in U.S. inflation. The bellwether of the business — the wholesale market the place sellers purchase and promote in bulk — has already topped out and costs of particular person secondhand vehicles

CarLotz started buying and selling shares Friday on the Nasdaq trade underneath the “LOTZ” ticker image, turning into the newest on-line used-vehicle firm to go public. CarLotz, which focuses on used-vehicle consignment, introduced final yr it could turn out to be a publicly traded firm by finishing a reverse merger with Acamar Companions Acquisition Corp.,

CarLotz started buying and selling shares Friday on the Nasdaq alternate below the “LOTZ” ticker image, turning into the most recent on-line used-vehicle firm to go public. CarLotz, which focuses on used-vehicle consignment, introduced final 12 months it could develop into a publicly traded firm by finishing a reverse merger with Acamar Companions Acquisition Corp.,

NEW YORK — CarLotz Inc. stated on Thursday it has agreed to go public by way of a merger with special-purpose acquisition firm Acamar Companions Acquisition Corp which values the U.S. consignment retailer for used automobiles at $827 million, together with debt. CarLotz could be the third main U.S. on-line automotive vendor to go public

NEW YORK — CarLotz Inc. stated on Thursday it has agreed to go public by means of a merger with special-purpose acquisition firm Acamar Companions Acquisition Corp which values the U.S. consignment retailer for used automobiles at $827 million, together with debt. CarLotz can be the third main U.S. on-line automobile vendor to go public

After slicing nearly 10 % of its workforce, rolling again salaries and freezing hiring, Automobiles.com is including one other cost-cutting measure to climate the COVID-19 storm: shedding actual property. The corporate this week listed one-third of its Chicago headquarters on the sublease market, in accordance with a flyer from brokerage CBRE. The 52,752-square-foot providing on

After chopping nearly 10 % of its workforce, rolling again salaries and freezing hiring, Vehicles.com is including one other cost-cutting measure to climate the COVID-19 storm: shedding actual property. The corporate this week listed one-third of its Chicago headquarters on the sublease market, in accordance with a flyer from brokerage CBRE. The 52,752-square-foot providing on

McLaren North America, within the newest tweak to its retail operations, has rebranded its rising licensed pre-owned program. In an effort to supply extra readability to North American shoppers, the British unique model mentioned this system will now be referred to as McLaren Licensed Pre-Owned and that McLaren Certified can be retired. The corporate launched

McLaren North America, within the newest tweak to its retail operations, has rebranded its rising licensed pre-owned program. In an effort to supply extra readability to North American shoppers, the British unique model mentioned this system will now be known as McLaren Licensed Pre-Owned and that McLaren Certified will likely be retired. The corporate launched

Amid financial uncertainty from COVID-19, American shoppers are extra hesitant to purchase or lease a automobile because the outbreak started. Used-vehicle consideration stays down in contrast with pre-pandemic ranges, however it’s stabilizing, whereas new-vehicle intent is reducing, in accordance with a examine by McKinsey & Co. The consulting agency’s COVID-19 Auto & Mobility Shopper Insights

Amid financial uncertainty from COVID-19, American shoppers are extra hesitant to purchase or lease a car for the reason that outbreak started. Used-vehicle consideration stays down in contrast with pre-pandemic ranges, however it’s stabilizing, whereas new-vehicle intent is reducing, in response to a examine by McKinsey & Co. The consulting agency’s COVID-19 Auto & Mobility

On-line used-car retailer Vroom Inc. introduced Tuesday it has begun an preliminary public providing of 18.75 million shares of frequent inventory. In a submitting with the U.S. Securities and Trade Fee, the retailer pointed to alternative within the extremely fragmented used-car area and sought to color itself as an organization in development mode because it

On-line used-car retailer Vroom Inc. introduced Tuesday it has begun an preliminary public providing of 18.75 million shares of frequent inventory. In a submitting with the U.S. Securities and Change Fee, the retailer pointed to alternative within the extremely fragmented used-car house and sought to color itself as an organization in development mode because it

Dealerships large and small more and more have shifted their focus towards used autos — a facet of the market that historically gives sellers extra management and inventive alternatives than the new-vehicle enterprise. And the shift en masse towards used autos additionally comes all the way down to cash. In accordance with J.D. Energy, sellers

On-line used-vehicle retailer Carvana Co. continues to report losses because it carries out a fast growth technique, however income and retail automobile gross sales soared within the second quarter. Carvana’s inventory value shot up after the report was launched Wednesday after the market’s shut, and rising as a lot as 26 % at one level