car sales News Updates

Toyota and Lexus brand sales cratered 23% in the world’s biggest auto market in August on weak demand for gasoline and hybrid vehicles.

Gross profit generated from used vehicle sales grew for the first time in five quarters, while the company sold more used vehicles in the quarter than analysts projected. 

ACV also is weighing a strategic partnership as an alternative to a sale, according to sources cited by Bloomberg.

The results offer investors a measure of relief after a punishing stretch for Hertz, which has contended with heavy depreciation costs, volatile finances and pressure on its stock.

Global sales in June fell 1.1% from a year earlier to 926,688 units, the company said in a statement July 30. Production climbed 2.2% to 984,408 vehicles.

Carvana tumbled after it said full-year earnings may fall short of Wall Street’s expectations as the used-car retailer’s rapid growth slowed.

Hertz stock plunged the most since its initial public offering five years ago after the car renter warned of pressure on earnings and plans to issue new debt.

Ford's top executive says allowing Chinese automakers to sell their cars in the U.S. would be “devastating” to American manufacturing.

Starboard Value has amassed a stake of about $350 million in CarMax and sees an opportunity to accelerate the used car retailer’s turnaround under incoming CEO Keith Barr.

The value of retail purchases decreased 0.2% after no change in December, Commerce Department data showed March 6. Excluding car dealers, sales were little changed.