Tag Archives: Used-car

Great Used-Car Bargains Hide among the New-Car Losers

Automobiles are crazy expensive, and nobody wants to buy a shoddy product that bleeds us dry, whether it’s new or used. We want long-term quality, but nearly every single one of us is blinded by our past experiences and by the billions spent on advertising campaigns that aim to keep us on a straight and narrow path of popular brands and ... Read More »

Used-car retailer Carvana’s shares skid in debut

Founded in 2013, Carvana is one of a handful of companies trying to disrupt how cars are traditionally bought in dealerships. Shares of used-car retailer Carvana Co. fell 26 percent below the company’s initial pricing in their Wall Street debut on Friday. Carvana shares, priced at $15, closed the day at $11.10 after falling as low as $10.70 just before ... Read More »

Used-car demand going strong at dealer groups

As new-car demand appears to be leveling off, the largest U.S. dealership groups are seeing used-car sales remain a steady, and hefty, percentage of their total revenues. That’s one of several insights from the Automotive News Data Center, which compiled data from survey information to produce its annual list of the top 100 dealership groups in the U.S., as ranked ... Read More »

GM Joins Ford Worrying About Declining Used-Car Prices

General Motors Co. said a glut of used cars will return to market after their leases expire and drag on its finance unit this year, following similar warnings by peer Ford Motor Co. and lenders such as Ally Financial Inc. The prices of used cars in GM Financial’s leasing portfolio will decline about 7 percent this year, GM Chief Financial ... Read More »

Hertz bears brunt of ‘freak out’ over used-car prices

As investor panic spreads about the plunging prices of used cars in the U.S., one company and its high-profile top investor are enduring the biggest beating: Hertz Global Holdings Inc. and billionaire Carl Icahn. Hertz shares lost one-fifth of their value last week, as a troubling reading for a used-vehicle price index was followed by warnings that lender Ally Financial ... Read More »

Used-car market appealing

The rate of car repossessions has also returned to normal, which shows that the hire purchase industry will start growing again in 2016 after witnessing a downturn when the first-car scheme ended. Anuwat Luengtawekul, chief financial officer of Thanachart Bank, said the non-performing loans (NPL) of auto loans at TBank is stable, while the number of car repossessions have dropped ... Read More »