After reporting strong first quarter results, used-car retailer Carvana set a goal of selling 3 million units with significant profit within five to 10 years. It is well on its way to achieving its “mission” of changing the way people buy cars, Carvana chairman, president and CEO Ernie Garcia said during the earnings call. “Given the position we're in and the fundamental gains we see in front of us, the path to that goal, which we currently view as both very exciting and very achievable is that we ... [Read More]

Montway Auto Transport is teaming up with USAA to offer discounts to the insurance provider’s members. The third-party automotive transport company said members can save up to $125 on car-shipping services through the USAA Perks program. USAA, founded in 1922 ... [Read More]

Another former Tesla executive has joined the leadership team at Plug. The company, which provides an online wholesale auction platform exclusively for electric vehicles, said Monday it has hired Lauren Van Dyke as its vice president of operations and partnerships. ... [Read More]

George Chamoun briefly touched on ACV Auctions’ “Project Viper” during the opening comments of the company’s first quarter earnings call , but he later expanded on the potential of the service product during the Q&A portion. “I never, ever in my entire career have had a product where I’ve had this much demand,” Chamoun, who is CEO of ACV, said Wednesday.  ACV has described Project Viper as ... [Read More]

Dealership software provider VINCUE has introduced VINCUE CATALYST, the next generation of its dealership platform. In a news release, the company said its new product is not just a software update, but rather is “engineered from the ground up” to ... [Read More]

Dealer Alchemist has hired Roma Varyani as vice president of OEM partnerships to lead the development and expansion of the company’s partnerships with OEMs The automotive digital marketing company said the addition of Varyani to the leadership team “underscores the ... [Read More]

Is right now the best time to buy an electric vehicle? According to J.D. Power’s E-Vision Intelligence Report for May, it seems likely that’s the case, thanks to the “policy limbo” the EV market currently finds itself in. The report, ... [Read More]

It’s not just you. Everything is getting more expensive. Between the rising cost of inflation, high interest rates squeezing consumers and floorplanning, and the on-again/off-again tariffs, everything is pricier. The Consumer Price Index has risen 21.7% since February 2020, with ... [Read More]