Yes, correct. Sorry I meant to type 2019.
Current New Vehicle Market
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Yes, correct. Sorry I meant to type 2019.
Mazda lot was full for first time in a long time.
Carvana is on the way out.
www.cnbc.com
Carvana shares tank as bankruptcy concerns grow for used car retailer
Shares of Carvana plummeted by more than 40% after its largest creditors reportedly signed a deal binding them to act together in negotiations.
www.cnbc.com
Wow 97% stock price decrease in one year! I believe you are correct, they are done.Carvana is on the way out.
Carvana shares tank as bankruptcy concerns grow for used car retailer
Shares of Carvana plummeted by more than 40% after its largest creditors reportedly signed a deal binding them to act together in negotiations.
When will we see some deals on Carvana vehicles?
They’ll probably auction them off to dealers before allowing steep discounts to the populous.
They’ll probably auction them off to dealers before allowing steep discounts to the populous.
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Leaked email reveals Tesla-wannabe Lucid is worried over canceled orders — and will call customers up to 14 times to ask them not to ditch their six-figure EV
AutoNation acquires mobile auto repair service in $190M deal
AN -1.32%Now!AutoNation, Inc. (NYSE:AN) announced its acquisition of RepairSmith, a mobile automotive repair and maintenance company, on Monday.
The acquisition was explained by the company as in-line with its goals of becoming a “comprehensive transportation solutions” company rather than merely an auto dealer.
“Earlier this year, we added captive financing capabilities and initiated the development of mobility solutions to expand our Customer offerings. RepairSmith is the next step in our plan,” CEO Mike Manley said. “It expands AutoNation's ability to penetrate the extensive After-Sales service market and conveniently respond to our Customers' needs by broadening the reach of our existing After-Sales network.”
The $190M acquisition is expected to close by the end of Q1 2023.
I am starting wonder if an auto mall near me is keeping lot inventory low by storing vehicles elsewhere.
My suspicion is due to an RV storage lot near the auto mall that has lines of Toyotas, Fords and Chevy vehicles on it.
I dont believe these to be fleet vehicles because they aren't all white and the trucks don't seem to be all the same build.
The other part of this is that the same auto mall has massive markups on those same brands. Toyota for example has a minimum 10k markup on everything claiming they have low inventory.
I could be wrong as I am not in the car business, I am just connecting dots.
My suspicion is due to an RV storage lot near the auto mall that has lines of Toyotas, Fords and Chevy vehicles on it.
I dont believe these to be fleet vehicles because they aren't all white and the trucks don't seem to be all the same build.
The other part of this is that the same auto mall has massive markups on those same brands. Toyota for example has a minimum 10k markup on everything claiming they have low inventory.
I could be wrong as I am not in the car business, I am just connecting dots.
Hundreds of Super Dutys at the Houston train yard. All colors.
Good suspicion, local Ram/Jeep dealer is using his overflow lot for new parking again.
Used car and truck prices continue to tumble in latest CPI report
CVNA -1.98%Dec. 13, 2022 8:39 AM ET1 CommentUsed car and truck prices marked another sequential decline on Tuesday, continuing a trend downward from a summer peak.
According to the Bureau of Labor Statistics, the index for used cars and trucks fell 2.9% sequentially in November, accelerating from 1.1% and 2.4% declines in September and October. The index has declined for 5 straight months and is now 3.3% below 2021 levels.
The used car and truck index is the only category to fall from 2021 on an unadjusted basis.
I wouldn't get too optimistic. I looked at buying up cars from Hertz when they went BK and the pricing was shit. Carvana will be a ch 11 not a ch 7 so it will not be a fire sale.
Would not surprise me in the least.
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Leaked email reveals Tesla-wannabe Lucid is worried over canceled orders — and will call customers up to 14 times to ask them not to ditch their six-figure EV
A friend of mine bought a lucid and it broke within a week. It had to be shipped to Chicago to be fixed. He has a model x too and thinks the lucid is way better.
Can't say that I would want any vehicle that had to be shipped out of state to get fixed.
Did the model x break in less than a week? Lol
I’m seeing more and more explorer ST out and about with paper tags.
They giving big discounts on them?
They giving big discounts on them?
Earlier this year I think or last year, an Autonation leaked memo to their dealers stated that when supply starts to recover, they would hold vehicles to control dealer inventory so they can control vehicle price through keeping supply low. Sounds like it's already starting.
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