Primeritus Financial Services promoted Mike Thomas to chief executive officer, effective immediately. Thomas succeeds Scott Peters who joined Primeritus in 2015 and led the company during a period of rapid…
The average used-vehicle price reached $20,084 in the third quarter, according to Edmunds. This is the highest average price since 2005 and a 3.5 percent increase year over year. Edmunds…
Carvana Co. retailed 25,324 units in the third quarter for revenue of $534.9 million. Total gross profit was $57.3 million. Both profit and loss were affected by an employee share…
Wholesale used vehicle prices increased 0.72 percent month-over-month in October. This brought the Manheim Used Vehicle Value Index to 140.9, a 3.4 percent increase from a year ago and a…
Carvana Co. launched a new operation in Scranton, Pa. Carvana first opened a venue in Pennsylvania in October 2016. In the two years since, the online retailer has grown to…
Jonathan Banks has been promoted to vice president and general manager of vehicle valuations at J.D. Power. Banks has been in the auto industry since 1995. He’s managed the development…
Consumer Portfolio Services Inc. recently announced the closing of its fourth term securitization in 2018. The transaction is CPS's 30th senior subordinate securitization since the beginning of 2011 and the…
GM Financial Company Inc. announced net income of $441 million for the quarter ended Sept. 30, compared to $442 million for the quarter ended June 30 and $202 million for…
Ally Financial is providing up to $2.3 billion in financing commitments over the next 12 months to support retail contracts from and inventory needs of Carvana Co. In its third…

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