From August 2019 to August 2022, used-car prices increased by 52 percent, while new cars increased by 29 percent. And with soaring interest rates, it was challenging for many Americans to afford a new, let alone a used vehicle. Looking for options to buy a car became vital. Founded in 2012 and based in Arizona,…
Carvana Adopts ‘Poison Pill,’ Sells $4 Billion of Auto Loans
Carvana Co. has adopted a “poison pill” to limit shareholders from raising their stakes and has reached an agreement to sell up to $4 billion of auto loans, the struggling used car retailer said on Tuesday. The company’s shares gained 6.5 percent to $7.47 in afternoon trade. Ally Bank and Ally Financial will buy the…
NTD Business (Dec. 7): Carvana Downgraded, Shares Tank; Study: George Soros Tied to 253 Media Groups
Carvana shares plummeted, and fears are growing it’ll go bankrupt after getting downgraded by a rating agency. The District of Columbia is suing Amazon, saying it stole tips from its delivery drivers for two and a half years. More signs supply chain problems are starting to resolve: Shipping times and prices are both down. How…
GM Challenges Carvana With CarBravo Online Used Car Marketplace
January 12, 2022
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DETROIT—General Motors Co. said it will launch a new, online used vehicle market called CarBravo that will allow the automaker and its dealers to challenge Carvana Co., Carmax Inc. and others profiting from selling secondhand vehicles. GM’s CarBravo site will aggregate vehicles owned by Chevrolet, Buick, and GMC dealers, as well as cars and trucks…
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