CarDealership

Major Valuation Decline Hits Mexican Used Car Marketplace Kavak

6 days ago

In a significant downturn for the automotive sector, Kavak, one of Mexico's leading car dealerships, has witnessed a staggering reduction in its valuation, plummeting by $6.5 billion as market conditions continue to deteriorate. This news comes amid growing concerns and shifts in investor sentiment across various industries, particularly technology and e-commerce, which have faced increased scrutiny in recent months.

Online Electric Vehicle Purchases Transforming the Automotive Landscape

2 months ago

The automotive industry is witnessing a significant shift as more consumers embrace the option of purchasing electric vehicles (EVs) online, a trend that poses serious challenges to traditional car dealerships. With online purchasing becoming increasingly accessible and convenient, the dynamics of how consumers buy cars are evolving, leading to a decline in dealership foot traffic and sales.

China's Car Dealerships Facing Staggering Losses of Almost $20 Billion in 2024

7 months ago

The automobile sector in China is going through the worst financial crisis ever, as car dealerships across the country stare at a total loss of almost US$20 billion this year. That is an astronomical figure and a strong blow to an industry that was just trying to recover from the residual effects of the COVID-19 pandemic, disrupted supply chains, and the slowdown in general economic growth.