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Used-car retailer grapples with waning demand in face of economic challenges.
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The most recent Consumer Price Index from the U.S. Bureau of Labor Statistics shows a slight but promising decline in used car prices.
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36 states alleged the used-car retailer sold cars with open safety recalls without letting buyers know.
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Sales fall due to customer affordability concerns. Company offering lower-priced models, cutting its costs.
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NuVinAir Global has named former AutoNation and CarMax executive Troy Blackwell senior vice president of global operations.
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Kerrigan Advisors analysts say the stock prices for America’s seven publicly traded dealership groups are outpacing the broader U.S. equity markets and could soar higher on lower interest rates and new trucks.
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Carvana broke into the top 10 in its first appearance on Automotive News’ list of the nation's Top 100 Used Retailers, more than doubling its output to more than 94,000 units and outpacing the Asbury, Larry H. Miller, and Ken Garff groups.
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The pre-owned dealer group’s online prequalification portal played a key role in its captive finance company's 7% increase in first-quarter originations. The group is currently testing a home-delivery service as well as an online vehicle appraisal tool.
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The Federal Trade Commission last week approved settlements with CarMax, Asbury Automotive, and West-Herr Automotive Group, which the regulator charged with failing to disclose that some pre-owned vehicles offered for sale had unrepaired safety recalls despite the companies' claims of rigorous vehicle inspections.
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CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.
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