Hints and tips:
...The results should be a warning to investors in the wider auto sector. Part of the problem is that prices for used cars remain sky-high....
...As Justin Spitzer, writer and producer on the US version of The Office and creator of Superstore and American Auto, workplace comedies, pointed out to me, “Chandler was just a guy who worked in exchange...
...There will be no soft impact for the US used auto market. Prices for new and used vehicles have been a crucial driver of inflation....
...Later this month, Berman Auto Group will host what has become a rare occurrence at a car dealership in the past two years: a sales event....
...Spitzer is working on a new show, American Auto, about executives at a big car company based in Detroit....
...Underscoring the turmoil in the autos industry, Vroom said it had to cut prices. Profit margins have accordingly shrunk....
...He also expects that used car dealer CarMax will be one of the industry’s best-performing stocks, while parts and equipment equities will be the worst-performing sub-industry in the auto sector....
...The dominant players in online auto (Guazi) and property sales (Lianjia) remain private. But investors will probably require more patience now than before, for a smaller return....
...At the same time, while it had come up with a brilliant innovation — CarMax, a chain of used-car superstores — it failed to see that it could “generate years of additional momentum” by extending its flywheel...
...Walmart also on Tuesday struck a partnership with Advance Auto Parts, allowing it increase its presence in the car parts business....
...Used car retailer CarMax and auto parts retailers AutoZone and O’Reilly are up 10.6 per cent, 10.4 per cent and 9.7 per cent, respectively, for the month....
...Advance Auto Parts trailed the S&P 500, falling 4.3 per cent to $116.71. Other retailers such as O’Reilly Automotive, CarMax and AutoZone all experienced sub-1 per cent declines....
...used-car superstores....
...Shares of CarMax, the largest US used auto dealer, declined on Tuesday after same-store sales nearly flatlined and earnings fell short of Wall Street forecasts....
...The market for auto bonds is hot, with rising issuance even of subprime debt. There are nascent concerns about the potential for overheating. CarMax’s loan portfolio is predominantly prime....
...At this Fortune 500 chain of “auto superstores”, the traditional setting where “the seller would look at the computer screen and the buyer at the computer’s backside”, has given way to a slick operation,...
...CarMax, a pure used car dealer that has eschewed the franchise model, also had a big drop in sales and earnings....
...AAA Auto this year became the world’s second used-car dealer to go public, following in the footsteps of CarMax of the US, raising €39m ($56m) by listing on the Prague and Budapest stock exchanges....
...It opened two standalone Bikehuts, in Putney and Brighton, and has developed a series of smaller neighbourhood shops alongside its superstores....
...The Canadian Auto Workers union is likely to make Chrysler the main target of negotiations for a new labour contract this autumn....
...Earlier this month, the state of Mexico ruled it could not build a superstore close to the spectacular pyramids at Teotihuacán, outside Mexico City....
International Edition