Carvana credits scale with strong Q3 performance and sees it as competitive moat
Image courtesy of Carvana/Business Wire
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Alysha Webb, Correspondent
Used-car retailer Carvana reported very strong third-quarter results, driven in part by growing economies of scale, said executives on the earnings call. Though the stock price plunged after the call on concerns about subprime loan performance, Carvana's chief financial officer said its loan performance was strong. “We're getting better as we get bigger, aided by […]
Turn Automotive, a driveway appraisal and guaranteed offer platform, said Monday it has partnered with DealNow, whose technology dealers can use to buy vehicles from private sellers. The partnership is designed to give dealers, “one complete process for buying from the street.” Dealers can use Turn to inspect and appraise a vehicle without the seller […]
Tom Kilgarriff describes McGovern Automotive Group president Matt McGovern as “a big proponent of used cars.” “All the stores are expected to sell used cars, and year to date we’re just about one to one used to new,” said Kilgarriff, who is group pre-owned manager for McGovern Automotive Group, who is Auto Remarketing’s 2026 Franchise […]
During its third quarter earnings call, Cars.com launched Marketplace Starter, a no-fee self-service subscription plan aimed at independent dealers. The online marketplace sees attracting more independent dealers to list on its site as a key to long-term sustainability. “In keeping with our focus on development velocity, we launched our first self-service marketplace offering to better […]