Used Cars

Used car prices are revving back into high gear – and dealership stocks are catching a tailwind. According to Cox Automotive, the Manheim Index, which tracks wholesale used vehicle prices, jumped 1.6% in June, marking a 6.3% year-over-year surge – the steepest increase since August 2022...

Meetings with the top management of Group 1 Automotive Inc (NYSE:GPI) and Penske Automotive Group Inc (NYSE:PAG) highlighted industry trends in tariff responses by OEMs (original equipment manufacturers), new and used vehicle sales, as well as P&S (parts and service) trends, according to...

BofA Securities analyst Michael McGovern on Thursday reiterated a Buy rating on the shares of Carvana Co (NYSE:CVNA) and raised the price forecast from $290 to $295. Carvana delivered a strong beat-and-raise quarter, highlighted by 46% year-over-year growth in unit sales. The company posted revenue...

Carvana Co (NYSE:CVNA) reported first-quarter financial results Wednesday after the bell. Here’s a rundown of the used car retailer’s report. Q1 Earnings: Carvana reported first-quarter revenue of $4.23 billion, beating the consensus estimate of $3.98 billion. The company...

Online used car seller Carvana Co (NYSE:CVNA) could continue stock momentum with a strong first-quarter financial report when the company reports after market close Wednesday. Earnings Estimates: Analysts expect Carvana to report first-quarter revenue of $3.98 billion, up from $3.06 billion in last...

Sonic Automotive, Inc. (NYSE:SAH) reported first-quarter results on Thursday. The company reported quarterly adjusted earnings per share of $1.48, beating the analyst consensus estimate of $1.45. Quarterly sales of $3.65 billion (up 8% year-over-year) outpaced the street view of $3.51 billion....

Amazon.com Inc. (NASDAQ:AMZN) is set to broaden its automotive offerings by incorporating used cars into its Amazon Autos platform. This move was announced by Fan Jin, Amazon Autos Director, on Wednesday. What Happened: According to a report by Automotive News, the platform, which recently...

Carvana Co (NYSE:CVNA) analysts reacted to the falling stock price and concerns from investors after the company reported fourth-quarter financials. The Carvana Analysts: RBC Capital analyst Brad Erickson reiterated a Buy rating on Carvana and raised the price target from $280 to $320. Needham...

Carvana Co (NYSE:CVNA) reported financial results for the third quarter after the market close on Wednesday. Here’s a look at the key metrics from the quarter. Q3 Earnings: Carvana reported third-quarter revenue of $3.66 billion, beating the consensus estimate of $3.45 billion,...

Electric vehicle (EV) prices in the used market have seen a significant drop, largely driven by Tesla Inc. (NASDAQ:TSLA) implementing aggressive discounts on new models. This has created a challenging scenario for both EV owners and dealers. What Happened: The value of used EVs has plummeted due to...

Automotive retailer CarMax Inc (NYSE:KMX) reports fourth-quarter (Q4) financial results Thursday, April 11 before market open. Here are the key earnings estimates, what analysts are saying and key items to watch for investors. Earnings Estimates: Analysts expect CarMax to report Q4 revenue of $5....

Whistleblower Edward Snowden expressed bewilderment over reports of individuals paying $3,000 monthly for cars. Snowden reminisced about purchasing his last car for a total of $3,000, questioning the current state of the used car market and inflation’s impact. What Happened: On Tuesday, he...

Online used car company Carvana Co (NYSE:CVNA)’ stock is volatile Monday with a new short report out on the company that comes on the heels of the company’s fourth-quarter results. What Happened: Kerrisdale Capital is out with a short report on Carvana. "We're short $CVNA post the 30...

Online used car company Carvana Co (NYSE:CVNA) is set to report fourth-quarter financial results after market close Thursday. Here are the key earnings estimates from analysts, what analysts are saying and key items to watch. Earnings Estimates: Analysts expect Carvana to report fourth-quarter...

The YouTube channel "What's Inside? Family" — which has over two million subscribers — recently tested how much a Tesla (NASDAQ:TSLA) Cybertruck could fetch from used car purchaser and retailer CarMax Inc (NYSE:KMX). In the video, which currently boasts over 130,000 views, host Lincoln Markham said...