Used BEVs Boost Dealers' Profits wardsauto.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wardsauto.com Daily Mail and Mail on Sunday newspapers.
The quarterly loss reported after the close Thursday caps a disastrous year in which Carvana's stock plummeted 98%, erasing almost $37 billion of market capitalization. Carvana spent $2.2 billion last year to acquire Carmel-based KAR Auction Services Inc.’s physical auto auction business, ADESA.
Hertz Global Holdings, fresh off a blockbuster order for 100,000 Teslas, reached an exclusive agreement to supply Uber drivers with electric vehicles and signed up Carvana Co. to dispose of rental cars it no longer wants.
Apr 13, 2021
“For everybody in the retail world, service is a great opportunity,” AutoNation’s Marc Cannon (left) tells Reuters’ Joe White.
Service Makes the Difference in Age of BEVs, Online Sales “We’re not like some of these companies that are just going to sell you a used car,” says AutoNation’s Marc Cannon. “That’s a key part of this business. You have to service the vehicles.”
Dealerships have physical locations that offer service and parts, and that’s a key advantage over electric-vehicle startups and online-only used-car sellers with no local presence,
some speakers at the recent online Reuters Automotive Retail 2021 conference say.