European used car platform Auto1 is deepening its artificial intelligence (AI) focus amid record profits. The company on Wednesday (May 8) reported quarterly earnings showing $175 million in gross profits, a 23% increase year over year. While discussing this milestone on the company’s earnings call,...
Through the past several months, buying a car — used or new — has been, to put it mildly, out of reach. Inflation has run rampant. Loans themselves — where there were loans to be gotten — were expensive. And as detailed here, delinquencies have...
Cazoo’s days of selling used cars are coming to an end. The U.K. company plans to transition into a “pure play” automotive marketplace, Cazoo said in a Wednesday (March 6) news release, the latest example of an online car seller shifting its focus amid a tough...
Bank of America has debuted tools to help customers complete and finance online car purchases. Clients can now become prequalified for auto financing to find out how much they may be able to borrow and estimate their terms, with no impact to their credit scores, the...
December 28, 2022
Online car buying, where digital tools handle the tedious stuff, is remaking automotive checkout experiences. This was the takeaway from a conversation for PYMNTS’ Commerce Voices Series sponsored by Checkout.com, featuring CarMax Assistant Vice President of Product Ann Yauger and Assistant Vice President of User Experience Design Eric Martin. The timing of its omnichannel experience redesign is fortuitous as used […]
July 10, 2024
Online car marketplace Carvana has introduced new features for buying and selling electric vehicles (EVs). The company says its new streamlined process highlights vehicles qualifying for the Clean Vehicle Tax Credit in the search experience and lets eligible customers apply the up to $4,000 in savings from the credit at checkout. “Carvana has always believed […]
May 08, 2024
European used car platform Auto1 is deepening its artificial intelligence (AI) focus amid record profits. The company on Wednesday (May 8) reported quarterly earnings showing $175 million in gross profits,...
March 06, 2024
Cazoo’s days of selling used cars are coming to an end. The U.K. company plans to transition into a “pure play” automotive marketplace, Cazoo said in a Wednesday (March 6) news...
November 15, 2023
Bank of America has debuted tools to help customers complete and finance online car purchases. Clients can now become prequalified for auto financing to find out how much they may be...
