Many companies featured on Money advertise with us. Opinions are our own, but compensation and in-depth research may determine where and how companies appear. Learn more about how we make money. Used car prices have fallen from last summer’s high levels, especially for buyers in the market for a used electric vehicle. List prices for…
Kenyan automotive marketplace Peach Cars is announcing its $5 million seed round led by Japan-based The University of Tokyo Edge Capital Partners (UTEC) and other angel investors, including Shintaro Yamada (founder and CEO of Mercari), Peter Kenevan (VP, Head of Japan at PayPal), and Hiroaki Ohta (general partner at Japan’s Waseda University Ventures). The startup,…
Car prices soared after the coronavirus lockdowns, and two years into the United States’ worst inflationary episode since the 1980s, the industry demonstrated that getting back to normal will be a long and lurching ride. In 2021 and early 2022, global shipping problems, a semiconductor shortage and factory shutdowns coincided with strong demand to push…
Drivers of used cars whom automakers have a direct line to—whether by email or app—are often offered free trial periods aimed at hooking a consumer to the subscription model of car ownership. But many drivers of used cars aren’t so easily targeted, especially those who don’t buy their cars through automakers’ dealer-controlled networks. A 2021…
Online used vehicle retailer Shift Technologies cut its workforce by 30% in the first quarter as the company sought to reduce costs and eliminate duplicate positions following its merger with CarLotz, CEO Jeff Clementz said during an earnings call. The layoffs came as the company saw its revenue plummet in the fourth quarter and its…