Carvana Revenue Up 200 Pct; Used Cars Remain Hot

Online car dealership Carvana’s revenue went up almost 200 percent in the second quarter of 2021 from the same time a year ago, and the firm sold more than 100,000 vehicles for the first time, a 96 percent increase from a year earlier.

The results have company officials confident that they are “firmly on the path to changing the way people buy cars, to delivering more than two million cars per year and to becoming the largest and most profitable automotive retailer.”

“Our growth in retail units combined with our even faster growth in cars bought from customers materially outpaced any sequential growth we’ve previously seen as a company,” Carvana said in the company announcement.

You may also like: Carvana Sells More But Spends More As Effort To Meet Demand Proves Costly

The financial results, which rocketed past analysts’ estimates, come as a global microchip shortage continues to hamper new

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The scorching hot used car market may finally be cooling off

By Peter Valdes-Dapena, CNN Business

For months, used car prices have been soaring at an unprecedented rate. That has led to some strange situations, like people selling used pickup trucks for more than they bought them for a year ago and even cars with more than 100,000 miles gaining a lot in value.

But two new reports indicate that things may be starting to cool off.

Wholesale used car prices — what car dealers pay for the cars they sell to customers — fell in the first two weeks of July, while used vehicle inventories at dealerships increased, according to Cox Automotive.

In addition, the retail price of used cars — the amount consumers pay — has continued to increase, but at a slower pace over the past month, according to a separate Cox Automotive report. While it’s not certain yet, Cox Automotive analysts think retail prices will start coming

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Insane Collection Of Unique Cars On Hot Rod Hoarders

⚡️ Read the full article on Motorious

Denny George has been collecting cars for a long time!

Hoarders are a funny bunch, they spend their whole lives collecting items that most people wouldn’t dream of ever wanting. It’s easy to sit down and laugh at the hoarders we see on reality TV shows such as Hoarders. However, what if it happened to us? Well, that is the subject of our next story as we delve into the realm of old forgotten dirt boxes as well as pristine drag cars.

Of course, there is nothing wrong with having this many cars, especially when your entire life revolves around the automotive experience. However, it should be fun to see the relics of a time when cars were designed to bring emotion and personality to the table rather than cold black tech.

First up we have a 1957 Chevrolet Bel Air with

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