ACV made four acquisitions last year and two the prior year. Those purchases included the likes of Indiana Auto Auction, 166 Auto Auctions and Alliance Auto Auction. But the expansion strategy for 2025 will look a little different ... [Read More]

In the fourth quarter, Lithia & Driveway’s sales of “value” used vehicles — described by the retailer as having over 80,000 miles on their odometers — grew 24.6% year-over-year and its sales of certified used vehicles “improved,” said the company’s chief operating officer, Adam Chamberlain. But same-store used vehicle sales declined 4.3% in the company’s fourth quarter that ended Dec. 31, compared to the year-ago quarter and declined 4% in the full 2024 year, compared to the full 2023 year. “We have to be ... [Read More]

The other shoe is about to drop. A 25% tariff by the U.S. on Canadian imports, long threatened by President Donald Trump and paused a month ago, are scheduled to go into effect Tuesday. During a week of mixed messages, Trump on Thursday reaffirmed his intention to go ahead with tariffs on Canadian and Mexican goods when the pause expires. Which leaves Canada’s used-car industry wondering: What happens now? ... [Read More]

CarGurus' fourth-quarter and full-year 2024 results were a tale of two segments. The online platform’s retail segment saw strong gains but its CarOffer subsidiary, a digital wholesale platform, continued to struggle. It did, however ... [Read More]

Penske Automotive Group delivered a strong fourth quarter and “another outstanding year of profitability,” said the company’s CEO Roger Penske during the company’s earnings call on Feb. 13. Penske’s used-vehicle business played a role in that. However, that role was a mixed one. Gross profit per used vehicle retailed increased $349 quarter over quarter. But used units retailed ... [Read More]

RB Global — the company which includes IAA, Ritchie Bros. Auctioneers, DDI Technology, Xcira and other entities — released fourth quarter and full-year 2024 results as its headliner event, the Orlando mega-auction, was underway. The results impressed analysts. “Q4 financial results from RB Global were ... [Read More]

Carvana redeemed itself in 2024, emerging as one of the most profitable and fastest growing publicly listed auto retailers. In the company's latest earnings call, CEO Ernie Garcia said 2024 “will always be a defining year in the Carvana story.” For the full year, Carvana sold 416,348 retail units ... [Read More]

For Cars Commerce vice president of sales and auto brand advertising Brian Miller — and likely many others closely involved with auto retail — electric vehicles have “been a really fascinating space to watch on the used-car side.” And the pre-owned segment “might be the key to unlocking growth” for the EV market, given some […] [Read More]

The supply of late-model used vehicles, which remains tight, appears to be the biggest thorn in the certified pre-owned vehicle market’s side. However, CPO demand — and opportunity — are plentiful. Getting ahold of those cars is the issue. [Read More]

AutoNation’s recent earnings call included good news ... and some challenges. AutoNation’s used unit sales were flat year over year, and sequentially down 2% from the third quarter, while supply availability for used vehicles has continued to be a challenge. But looking to the near future, AutoNation expects the normal seasonal swing to used vehicles for the spring selling season to occur, AutoNation chief financial officer Tom Szlosek said during the company’s fourth quarter and full-year 2024 earnings call on Feb. 11. And the company expects that used-vehicle unit sales ... [Read More]