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Automotive News for looks to shed part of Chicago headquarters

The move comes four months after the company announced a round of layoffs triggered by the COVID-19 crisis.

McLaren North America rebrands certified pre-owned program

The British exotic brand, in the latest tweak to its North American retail operations, is retiring McLaren Qualified after seven years.

Intent to buy used stabilizes while new-car intent weakens, study finds

Between June and July, new-vehicle purchase intent in the U.S. declined 4 percent while used-vehicle intent rose 2 percent, according to a survey by McKinsey & Co. on how consumers are responding to COVID-19.

Online used-car retailer Vroom targets IPO worth at least $281M

The company, which has been reporting strong revenues but with net losses, has applied to be traded on the Nasdaq exchange under the VRM ticker symbol. The current share price target would raise between $281 million and $319 million.

5 used-vehicle trends in 2020

With rising prices of new vehicles pushing away more consumers, the used-vehicle market is hot. What will change next year?

Carvana Q2 net losses continue, but shares soar

The online used-car retailer continues to rack up losses as it expands into new markets but its share price rallied on a spike in revenue, profit per vehicle and improved second-half outlook.

Average age of vehicles on U.S. roads hits 11.8 years

The number of light vehicles in operation in the U.S., driven by quality gains and additional technology, hit a record 278 million, an increase of more than 5.9 million, or 2.2 percent, since 2018, IHS Markit said.

How rising depreciation will affect the used-vehicle market

Last year's depreciation rates were relatively low thanks to several factors that simply can't last forever. The rate is expected to grow this year, which will affect the used-vehicle market.

Carvana’s losses mount amid 'sustained hyper growth'

Carvana said its revenue more than doubled for a 21st consecutive quarter as it expanded into 24 new U.S. markets.

China approves used-car exports to boost sales

In its latest bid to prop up the auto sector, China started allowing used-car exports from ten cities and provinces including Beijing, Shanghai and Guangdong. Site Index