AI helps Lithia improve used profitability, though pricing still a challenge
Image courtesy of Lithia & Driveway.
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Alysha Webb, Correspondent
Lithia & Driveway's used-vehicle sales in the third quarter were a somewhat bright spot as new-vehicle sales showed some weakness. “In used vehicles, our pricing strategy continues to deliver,” chairman and CEO Bryan DeBoer said on group's latest earnings call, “and it’s a great example of our ecosystem, technology and people all working together as […]
The revamp of Cars.com’s top-level executive team keep evolving. The newest move came on Thursday when Cars.com appointed Mausam Bhatt as chief product officer, effective on Monday. Bhatt will join the company after it has already hired a new chief financial officer, who is set to start next Friday, as well as a new chief […]
Prices for 1- to 5-year-old used electric vehicles have risen significantly faster than their hybrid and gas-powered counterparts in the last year, according to an analysis by iSeeCars.com. Once thousands of dollars cheaper, used EVs are now close to $600 more expensive than gas vehicles. Yet, they’re turning about 14% faster than hybrids and more […]
Next up on our series featuring the 2026 Used Car Week Hall of Fame honorees is a conversation with Bob McConkey, president and CEO of the McConkey Auction Group. McConkey, along with MAG chief operating officer David Pendergraft and DAA Northwest general manager Collin McConkey, sat down with Cherokee Media Group’s Joe Overby to discuss […]