Carvana is experimenting with new vehicle sales at a Stellantis franchised location in Dallas, using a unique approach where all purchases are made online rather than through traditional dealership sales. The Dallas site serves as a test drive center and showroom 'playground' where customers can explore vehicles and test drive before buying online. This model contrasts with traditional dealerships by eliminating sales commissions and haggling, focusing on a hassle-free experience. Carvana also plans to offer vehicle servicing at these locations while maintaining transparent pricing. The company aims to grow its market share in new car sales while supporting its used car business, potentially reshaping the U.S. franchised dealership model if successful.
U.S. stock markets rose Wednesday with small caps leading, hitting record highs as investors awaited Federal Reserve Chair Kevin Warsh's first interest rate decision. The Fed is expected to keep rates steady at 3.50%-3.75%, focusing attention on futu...
CarMax reported fiscal Q1 2027 earnings and revenue above expectations, but its shares fell 7% due to shrinking per-unit profits and rising loan-loss reserves at its finance arm. The company’s gross profit per used vehicle declined as it prioritized ...
The Federal Reserve, led by new Chairman Kevin Warsh, is expected to keep interest rates steady in its latest policy decision, with Warsh possibly not participating in the traditional rate outlook 'dot plot.' Meanwhile, President Trump signaled a tou...
Carvana reported strong Q1 2026 results with 40% year-over-year growth in retail units and 52% revenue growth, achieving a 10.4% adjusted EBITDA margin and reducing net leverage to 1.1x. Operational improvements like AI-driven logistics and centraliz...
Carvana, a leading U.S. used car retailer, has acquired seven new vehicle franchises selling Stellantis brands like Chrysler and Jeep, marking its expansion into new car sales. This move could disrupt the traditional franchised dealer system by provi...
