TEMPE, AZ - Online used car retailer Carvana, famed for their building-sized car vending machines that were quite popular during the to-touch era of COVID-19, continued its post-pandemic slump on Friday when the company announced that it would be laying off about 8 percent of its workforce in an effort to trim costs amid a recent slowdown in the used car … [Read more...] about Carvana Lays Off 1,500 Employees as Stock Drops and Used Car Sales Slump
Beware: Over 350k Vehicles Flood-Damaged by Hurricane Ian Hitting Used Car Market
FORT MYERS, FL - The passing of Hurricane Ian along the United States’ east coast six weeks ago resulted in a multitude of vehicles suffering flood damage, and with many of those same vehicles now underhandedly turning up in used car lots across the country, buyers need to beware and take steps to ensure that the pre-owned car they’re buying wasn’t up to its hood in … [Read more...] about Beware: Over 350k Vehicles Flood-Damaged by Hurricane Ian Hitting Used Car Market
$2 Million Rimac Nevera Goes 256 Miles Per Hour, Sets Record as World’s Fastest EV
PAPENBURG, GERMANY - The Rimac Nevera has just taken the crown as the world’s fastest electric vehicle (EV), with the 1,914 horsepower Croatian supercar setting an unofficial world’s record by reaching a whopping 256 miles per hour – or 412 KPH – on a seven-and-a-half-mile oval track at the Automotive Testing Papenburg facility in Germany. The Rimac Nevera’s price is as … [Read more...] about $2 Million Rimac Nevera Goes 256 Miles Per Hour, Sets Record as World’s Fastest EV
CarGurus Struggling as Demand and Prices for Used Cars Drop Drastically
CAMBRIDGE, MA - CarGurus, an automotive research and shopping website that assists users in comparing local listings for used and new cars and contacting sellers, is experiencing difficulties as of late amid current falling demand and prices in the used car marketplace, according to the company during their Tuesday, November 8 quarterly earnings call with … [Read more...] about CarGurus Struggling as Demand and Prices for Used Cars Drop Drastically
Porsche to Debut Off-Road SUV Version of Iconic 911 Sports Car
LOS ANGELES, CA - German automotive manufacturer Porsche is set to debut an off-road capable Sports Utility Vehicle (SUV) version of their iconic 911 sports car after having conducted expensive tests in a variety of harsh environments to ensure the new vehicle lives up to the company’s lofty reputation. The upcoming 911 Dakar off-road model is set to debut on … [Read more...] about Porsche to Debut Off-Road SUV Version of Iconic 911 Sports Car