Motor Vehicle Dealing

The online used-car retailer says its cost-cutting efforts are taking hold. The online used-car retailer says its cost-cutting efforts are taking hold. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish…

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Finance chief Zach Kirkhorn is little known outside the company, but inside he is widely admired for his skill navigating the demands of his bossFrom left, Rebecca Tinucci, Tesla’s head of charging infrastructure, Zach Kirkhorn, Tesla chief financial officer, and Elon Musk, chief executive, in an image from a video of Tesla Investor Day this year in Texas. Tesla Finance chief Zach Kirkhorn is little known outside the company, but inside he is widely admired for his skill navigating the demands of his bossFrom left,…

Markups on new cars were a key force behind the current bout of inflation, according to new research published this month.  Those extra dealer profits contributed between 0.3 and 0.7 percentage point of the nearly 16% rise in the consumer-price index between the end of 2019 and the end of 2022, a study published in a U.S. Bureau of Labor Statistics journal found. Markups on new cars were a key force behind the current bout of inflation, according to new research published this month.…

Conagra , which makes Hunt’s tomato products, attributed its most recent quarterly results to inflation-driven price increases. Photo: ANDREW KELLY/REUTERS…

Car buyers are finally starting to see something they haven’t in a long time on dealership lots: more availability of cars and trucks.Inventory levels for new vehicles, constrained through much of the pandemic due to supply-chain snarls, have begun to bounce back, leading many car companies to report higher U.S. auto sales in the first quarter. The strong results are a sign that the car sector is moving past some of the acute shortages that have dogged business in recent years.   General Motors Co.…

A sharp rise in new-car prices since the pandemic has left many buyers fretting about vehicle affordability. Now, some dealers are fretting along with them. Some dealers say that elevated prices and a lack of affordable models already were keeping some prospective buyers away. Now, higher interest rates and falling used-car prices are making it even more difficult for customers to make the math work on a monthly payment.  In some cases, buyers are canceling orders they placed before interest rates edged higher, dealers…

Mondelez International Inc. MDLZ 0.93% reported a double-digit boost to its fourth-quarter sales, helped by higher prices for its cookies and candies, as well as added revenue from recent acquisitions. The Chicago-based maker of Oreo cookies and Triscuit crackers said Tuesday that sales climbed 14% in the recent period to $8.7 billion, beating analysts’ expectations of $8.33 billion, according to FactSet. Mondelez, which…

Vehicle leasing—once a path for nearly one-third of American buyers to get behind the wheel of a new car—has faded since the pandemic. Now it is likely to be years before the U.S. lease market returns to normal, executives and analysts say.The leasing falloff is largely tied to the vehicle shortage that has plagued the car business for more than two years. Auto makers generally make more money selling cars outright, rather than leasing them, which typically involves a heavier subsidy from the manufacturer. With inventory…

Carvana Co. CVNA -14.19% is further cutting staff and facing a deeper slowdown in sales as it tries to reduce costs and conserve cash to stay current on more than $7 billion of debt, employees and industry analysts said.The online used-car seller is quietly terminating employees, cutting hours and letting open positions go unfilled, according to current and former employees and internal emails reviewed by The Wall Street Journal. Several operations teams are working…