auto sales

Retail sales in March grew at the fastest pace in over two years, underscoring how American consumers accelerated their spending ahead of anticipated price distortions stemming from President Donald Trump‘s tariffs. According to advance estimates from the U.S. Census Bureau, retail and food...

The year 2022 was tough for automakers as they had to contend with supply chain challenges and softening consumer demand. What Happened: Industry-wide auto sales fell 8% year-over-year to 13.7 million vehicles in 2022, reported The Wall Street Journal. This marked the lowest number since 2011....

Electric vehicle leader Tesla Inc (NASDAQ: TSLA) has been a market share leader in the EV space in many territories over the years, including the state of California. Here’s a look at how Tesla isn’t just winning the EV market in California, but winning the overall automotive sector...

The index for new cars increased 0.6% in July, while the index for used cars fell 0.4%, according to data issued by the Labor Department on Wednesday, Aug. 10. While inflationary pressures on used car prices have only increased twice in 2022, pressures on new vehicles have increased six of the...

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. CarMax Inc. (NYSE: KMX) traded at a new 52-week high today of $144.84. This new high was reached on below-average trading volume as 459,...

Electric vehicles and e-mobility are the new (re)start for all the automakers, and whoever goes the extra mile will secure a better future and results. General Motors (NYSE: GM), the automaker with experience of over 100 years, is no different. The company decided to increase the electric and...

CarMax (NYSE: KMX) reports its 1Q22 earnings Friday before the market open. CarMax is the largest used auto retailer in the U.S., with over 220 locations selling new, used, and wholesale vehicles. CarMax has beat EPS estimates for the last four consecutive quarters, with a beat of $0.03 per share...

Tesla Inc (NASDAQ: TSLA) will beat Wall Street expectations of 170,000 deliveries for the first quarter and restore momentum for the company’s stock and electric vehicle sector, according to Wedbush analyst Daniel Ives. The Tesla Analyst: Ives maintained his $950 price target and Neutral...

A lawsuit has been filed against electric vehicle startups Rivian Automotive and Lucid Motors in Illinois for selling vehicles directly to consumers in the state. What Happened: The lawsuit was filed by the Illinois Automobile Dealers Association, the Chicago Automobile Trade Association, and other...

U.S. auto sales are expected to rise in March, despite brutal weather conditions and semiconductor chip shortages that have forced automakers to cut production, auto industry consultants J.D. Power and LMC automotive forecast on Friday. What Happened: Retail sales of new vehicles are estimated to...

Last week saw continued momentum in special purpose acquisition company (SPAC) mergers, as KBL Merger (NASDAQ: KBLM), Acamar Partners Acquisition Corp. (NASDAQ: ACAM), Panacea Acquisition Corp. (NYSE: PANA) and South Mountain Merger Corp. (NASDAQ: SMMC) each announced business combination...

U.S. auto producers announced Q1 sales figures this week, and as expected, sales numbers fell due to the COVID-19 outbreak. A strong year start was fully offset by terrible last month's results. According to industry research firm Wards Intelligence's data, approximately 1 million light...

U.S. retail sales were down for the first time in seven months in September, but the move was mostly driven by declines in big-ticket purchases like cars. The Commerce Department said Wednesday that retail sales were down 0.3% in September, led by a 0.9% decline in auto sales. It was the first...

A Tuesday report from valuation analysts at Kelley Blue Book is a testament to the lukewarm showing of the auto market. Average new vehicle prices increased merely $262, or 0.6% year-over-year, in September, the publication said. The month-over-month performance revealed an increase...

To start the week, a key manufacturing index fell to its lowest level since 2009. Precious metals, including gold, silver and particularly palladium, took it on the chin. Crude oil fell 3% to below where it was before the attack on Saudi oil fields. Despite all that, the stock market rallied Monday...