Earnings
CarMax Auto Finance originations decline for second straight quarter
CarMax Auto Finance (CAF)’s originations fell 4.2% sequentially in the second quarter of fiscal year 2023 as used-vehicle sales slowed...
Pagaya invests in AI in Q2
Fintech Pagaya was focused on internal growth and technology investments in the second quarter, resulted in an 83% year-over-year increase in total...
Rivian affirms production target as preorders mount
Electric vehicle manufacturer Rivian Automotive reaffirmed its production guidance for the full year despite protracted supply chain constraints as preorders...
Inside Shift’s new business plan, CarLotz merger
Used-car e-commerce platform Shift Technologies’ planned merger with used-vehicle marketplace CarLotz comes as Shift reprioritizes its growth strategy and revamps...
Upstart originates first $10M in retail loans
Artificial intelligence (AI)-based lending marketplace Upstart’s financing partners in the second quarter originated the platform’s first $10 million in auto...
Vroom’s e-commerce profit jumps 106% in Q2
Vroom’s e-commerce gross profit per unit (GPU) set a record in the second quarter as the online auto retailer began...
Listen: Weekly Wrap discussion on credit availability, used vehicles
Last week the auto finance industry entered the tail end of second-quarter earnings season as used-vehicle values depreciated for the...
Carvana Q2 originations grow 6.1% YoY
Rising interest rates and wider credit spreads are putting the squeeze on Carvana’s financing business, even as origination volume and...
