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☆ While new electric vehicle sales are slowing, used sales are ramping up
▼ + stars: | 2024-06-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Sales of new electric vehicles have started to slow, but the opposite is happening with used EVs. The used car sales website Carvana saw its used EV sales more than double since last year. While increases in used EV sales are huge, they still make up a small portion of overall used vehicle sales. Used EVs still cost more, on average, than used gas-powered vehicles, but they cost a lot less than new EVs. While prices for new EVs average around $63,000, prices for used ones average around $36,000, according to Cars.com.

Persons: EVs, Carvana, wasn’t, Price, Cars.com, Truecar, “, who’ve, ”, Matt Jones, ” Manheim, “ We’ve, it’s, Grace Huang, we’ve, Tesla, Jones, Rebecca Lindland, Courtney Vaughn, “ I’m, Lindland Organizations: CNN —, EV, TrueCar, Cox Automotive, Cox, Cars.com, Chevrolet, Hyundai, Hyundai Kona EV, US Department of Locations: Georgia, New York, California, ”

☆ After traveling in a van for 2 weeks, I saw how the lifestyle could be cheaper than my Denver life
▼ + stars: | 2024-03-23 | by ( Monica Humphries | ) www.businessinsider.com time to read: +7 min

I wanted to explore the US, but I also wanted to see if van life was something I could do full-time. I quickly realized that these small costs — eating out, gas station snacks, souvenirs — are where van life can get expensive. AdvertisementSo finding a lifestyle like van life, which includes adventure and potential savings, sounds too good to be true. Monica Humphries/Business InsiderI experienced ways that living in a van could be cheaper than my lifestyle todayThere are hidden costs that come with van life. I'm not saying van life is necessarily cheaper than city living, but I am convinced it can be if I work at it.

Persons: —, ProMaster, I've, Apartments.com, Axios, It's, Brittany Newson, Monica Humphries, it'd, Zach Nelson, Joe's, Joshua, Ram, van, I'd, I'm Organizations: Service, Denver, Mercedes, Benz, Costco, Walmart Locations: Denver , Colorado, Denver, Southwest America, Plenty, San Fransico, Joshua Tree

☆ Auto loans are super expensive. Here’s how to shrink your monthly bill
▼ + stars: | 2023-10-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

In fact, auto loan interest rates are the highest they’ve been since 2007, when the world was heading into a massive financial crisis. More than 70% of buyers of new large SUVs now have monthly payments over $1,000. Keep it shortPeople often try to reduce their monthly payments by taking out longer loans. Spreading the payments over more years can keep the monthly amount lower, but it means you’re paying more in interest. Leasing is another way to keep monthly payments down.

Persons: It’s, ”, Kevin Roberts, you’re, Roberts, that’s, Ivan Drury, Edmunds, Matt Jones, Courtney Alev, Joseph Yoon, TrueCar’s Jones, Jones, “, CarGurus ’ Roberts, Tyson Jominy Organizations: New, New York CNN, Credit Karma, Leasing, “ Leasing, Edmunds, Toyota, Power, Associates Locations: New York, Edmunds, TrueCar.com, Cross, Boston, New York City

☆ Where Uber's climate and autonomous driving goals will meet in the future
▼ + stars: | 2023-08-24 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"For most of our history, profitable wasn't the first thing that came up when you asked someone about Uber," Khosrowshahi said on Uber's second-quarter conference call Aug. 1. The $1 a ride alone can add up to $4,000 to a driver's annual revenue, the company says. All of them will compete for customers on Uber's platform much as hotels search for business on Expedia.com – a business once run by Khosrowshahi. Indeed, one threat to Uber's current status as a market darling is if AV makers, especially Tesla, decide to compete with Uber directly for riders, Zino said. Khosrowshahi told Sellers that 10-20% of Uber drivers may soon be robots, but said he still thinks more people will be driving for Uber than there are today.

Persons: Angelo Zino, Uber, Savannah, Khosrowshahi, Dara Khosrowshahi, Zino, Scott Devitt, Morgan Stanley's Brian Nowak, undercharging, They've, Devitt, –, Hertz, That's, Tracy Lynn Young, Tesla, they've, Cruise, AVs, Sellers Organizations: GM, General Motors, Ideas, Uber Technologies, Aurora, Wedbush Securities, Hyundai, Tesla, EVgo, EVs, TrueCar.com, Uber, CNBC, Hertz, Waymo, Cruise, Khosrowshahi Locations: California, San Francisco, Pittsburgh, Hyundai Kona, London, U.S, North America, Atlanta

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Automotive digital marketplace TrueCar slashes 24% of headcount
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

June 14 (Reuters) - TrueCar (TRUE.O) said on Wednesday it was laying off 24% of its workforce as part of restructuring that would result in $20 million of annualized expense reduction for the automotive digital marketplace. As of May 31, the company had nearly $146.5 million of cash and cash equivalents, but its management was expecting aggregate cash balance to drop below $125 million in the near term. However, TrueCar said the fourth quarter will see double-digit year-over-year revenue growth and breakeven or positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). A stormy economic environment brought on by inflation and rate hikes has prompted several companies across corporate America to trim their headcount. Reporting by Niket Nishant in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Jantoon Reigersman, TrueCar, Niket, Maju Samuel Organizations: Thomson Locations: America, Bengaluru

☆ Car dealers reveal the 9 questions you should always ask before buying
▼ + stars: | 2023-04-08 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Many of the car brands with more inventory on lots than others might also have higher loan payments. "The role of a dealer isn't just to sell them a car, it's to help them find the lowest interest rate possible, and that's both new car dealers and used car dealers. "Even based on the specific car, one bank may provide a lower interest rate on a specific sort of make and model." The used car market might be even more complicated for car shoppers than the new market right now. As a result, far fewer car shoppers have opted to lease a car in recent years.

☆ These stocks are table-pounding buys as bank fears linger, analysts say
▼ + stars: | 2023-03-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wall Street analysts unveiled a slew of must-own stocks this week even as bank and macroeconomic worries permeate the market. While some investors might be distracted by the ongoing financial turmoil, analysts say there are plenty of quality buying opportunities. They include: TrueCar, Apple, Progressive, Academy Sports and Prosperity Bancshares. Apple Morgan Stanley is doubling down on Apple shares. Apple shares are up almost 20% since the start of the year.

☆ 9 questions you should always ask when buying a car
▼ + stars: | 2023-03-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, First Republic, Charles Schwab, Match & more
▼ + stars: | 2023-03-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wells Fargo reiterates PNC as overweight Wells said PNC should benefit from a "flight to quality." Deutsche Bank reiterates Charles Schwab as buy Deutsche said liquidity risks for Charles Schwab are overblown. Wells Fargo reiterates Western Alliance Bancorp as overweight Wells said it's standing by shares of the regional bank. Wells Fargo reiterates American Express as overweight Wells said investors should buy the dip in American Express shares. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on shares of Amazon.

☆ New cars are crazy expensive but, if you’re careful, they don’t have to be
▼ + stars: | 2023-02-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

Yet the average sticker for base models, adjusted for inflation, has actually gone down a little — even as consumers have shifted from sedans to more expensive SUVs. That’s good news for drivers willing to go no-frills: If you don’t want to pay lots of a new car, you don’t have to. It has a base price of $15,730. These base price models may not make much money, if any, for automakers. The average price of a GMC Sierra 2500 HD, as sold, is now double the base price.

☆ Car prices could drop 20% this year. Here's where to expect the best deals first.
▼ + stars: | 2023-02-01 | by ( Tim Levin | Alexa St. John | ) www.businessinsider.com time to read: +3 min

After years of high prices and low inventory, car buyers might finally see things go their way. Consider certain brands or vehicle types if you’re car shopping in 2023. As a result, JPMorgan says, used car prices could fall by as much as 20% in 2023, and new car prices could drop by 5%. "The biggest, fastest drop in prices in returning toward normal, pre-pandemic prices would probably be in those segments," Brauer said. Pickup trucks, though popular in general, don't have great fuel economy, so prices have softened amid higher-than-normal gas prices, Brauer said.

☆ Why Auto Marketing Looks Poised for Growth in 2023
▼ + stars: | 2023-01-27 | by ( Megan Graham | ) www.wsj.com time to read: +5 min

A year like that might typically drive auto marketing off a cliff. “We haven’t taken our foot off the accelerator, because we do see the transformation of EVs occurring,” Mr. Wager said. “You don’t put a vehicle in the Super Bowl to sell 20,000 vehicles—that doesn’t make any sense,” Mr. Wager said. “You wouldn’t put it on television normally, unless you’re creating the halo of the electrification of the brand,” Mr. Wager said. Kia will be at the Super Bowl again this year, this time advertising its Telluride SUV.

☆ Most new car buyers are now paying less than the sticker price. But they're still paying top dollar
▼ + stars: | 2023-01-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Americans can once again buy cars for less than sticker price. A year ago, record tight inventories meant 80% of buyers were paying more than the manufacturers’ suggested retail price (MSRP), or sticker price, according to data from Edmunds. For decades, car buyers had been able to negotiate a discount. After paying an average of $700 above MSRP in the spring, buyers paid an average of $300 less than sticker in December. There are signs that things will get better for new car buyers in the months ahead as inventories continue to build.

☆ Car buying is never going back to normal
▼ + stars: | 2023-01-05 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Supply-chain snarls revealed buyers are willing to wait for the car they want. Changing dynamics mean we're not going backThat doesn't mean everything's going back to normal. Execs at Ford and Stellantis (the Detroit-based parent company of Fiat Chrysler and PSA Group) have expressed similar views in the past few months. Even if they could revert to pre-pandemic inventory and wipe away supply chain issues, car-buyers have adapted to pandemic-induced trends. "The customer orders a vehicle, and then we ship the vehicle to the customer," Farley said in a Q2 earnings call.

☆ U.S. auto sales to fall in 2022, GM set to reclaim top spot from Toyota
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8% from 2021 and 20% from the peak in 2016, according to industry consultant Cox Automotive. Inventory shortages, caused by surging material costs and persistent chip shortage, spilled into 2022, hobbling production at many automakers. Reuters GraphicsGM's 2022 U.S. sales are set to rise 2.3%, while Toyota's is expected to fall 9%, according to Cox Automotive. Both automakers are set to report sales figures on Wednesday. Some industry observers fret that price hikes by automakers to blunt inflationary pressures and rising interest rates will take a toll on new vehicle sales in the new year.

☆ Car prices could drop 20% next year. Here's where to expect the best deals first.
▼ + stars: | 2022-12-19 | by ( Tim Levin | Alexa St. John | ) www.businessinsider.com time to read: +3 min

☆ If you're looking for a car deal this Christmas, you may be out of luck. The pandemic killed the end-of-year blowout sale for good.
▼ + stars: | 2022-12-18 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +3 min

Don't let ads fool you: holiday car deals will be meager this year. "If you're specific about what car you want, you're basically buying it whenever it comes into stock." After pandemic-related factory shutdowns in 2020 were compounded by a global shortage of semiconductors in 2021, dealers and car companies learned to do business on leaner inventories. According to Caldwell, most holiday deals this year are finance-related, like subsidized APRs or a limited period of 0% interest. And with supply chain woes expected to ease slightly next year, car companies could start building at higher rates again.

☆ Buying a car is finally easier — but watch out for high interest rates and lingering inventory issues
▼ + stars: | 2022-12-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Easing supply chain crises mean more vehicles on lots, used vehicle prices are down, and demand is normalizing. "There's really not a lot of ways to escape them unless you are willing to change the car that you're buying," Drury said. As far as luxury cars go, there aren't many deals to be found, he added. Used cars are displayed on the sales lot at Marin Acura in July 2021. Car-buyers might find a used vehicle could suit their needs while they hold out for lower prices surrounding new vehicles.

☆ Kia, once the ‘value’ brand, now has the biggest price markups
▼ + stars: | 2022-09-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

CNN Business —Reversing a century of tradition, most cars now sell for over the manufacturer’s sticker price. It isn’t some luxury or performance brand; it’s Kia, the South Korean car brand usually thought of as a value purchase. On average, Kia cars and SUVs are selling for about 6% over their sticker price, according to data from Edmunds.com. Roughly tied for second, at 4% above sticker price on average, are Honda, Hyundai and the luxury SUV brand Land Rover. Kia Motors AmericaAdding to the pressure is that, while manufacturing slowdowns have hit the whole industry, Kia models are especially hard to find.

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