car

Car Capital Appoints Company Advisors, John Binnie and Kirk Shryoc

By Michael J. Moody 13 hours ago

GRAPEVINE, Texas, May 11, 2021 /PRNewswire/ — Car Capital, an automotive FinTech company that provides their dealer partners with the ability to make 24/7 instant auto loan decisions, is happy to announce the appointment of two company advisers, John Binnie and Kirk Shryoc. Binnie was most recently Vice Chairman of Corporate and Investment Banking at Bank of America, and previously a partner at Moelis & Company, Head of Diversified Financials Group at Morgan Stanley, and Co-head of the Bank and Diversified Financial Services Group at Salomon Smith Barney. Shryoc is Managing Partner at Hard Right Solutions LLC and Co-founder of Mobility Financial Management, LLC. Shryoc is also a board member of several private companies and previously VP and Assistant Treasurer of The Hertz Corporation. Binnie and Shryoc are also investors in Car Capital and bring a wealth of experience and ideas to contribute to Car Capital’s upward trajectory of

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Car Prices Are Soaring. Why Are Car Dealer Stocks Down?

By Michael J. Moody 19 hours ago

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Used cars at Frank Bent’s Wholesale Motors in El Cerrito, Calif.


Justin Sullivan/Getty Images

Inflation data surprised to the upside Wednesday. That’s one estimate “beat” investors didn’t want to see. But a big reason for higher-than-expected inflation was car prices, which are soaring.

That should be a good thing for car-dealer stocks. But they are down on Wednesday.

Shares of online car dealers

Carvana

(ticker: CVNA) and

Vroom

(VRM) are down 5.9% and 2.3%, respectively, in recent trading. That compares with 1.3% and 1% respective drops in the

S&P 500

and

Dow Jones Industrial Average.

Traditional dealer and car-information provider stocks are weak Wednesday as well.

AutoNation

(AN),

CarMax

(KMX), and

Sonic Automotive

(SAH) shares are down about 2% on average. Shares of auto-data providers

Cars.com

(CARS),

CarGurus

(CARG), and

TrueCar

(TRUE) are down roughly 3%.

This feels wrong. Brokerages are spread businesses buying and selling

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The Least and Most Popular Car Models in America in 2020

By Michael J. Moody 2 days ago

The U.S. new car market in 2020 contracted almost 16 percent compared with the previous year, the most notable unit sale slump in more than a decade.

While only a minority of car models improved their year-on-year sales, there were still clear winners and losers on the car showroom forecourts.

New-vehicle inventory to sales data is a useful metric in gauging how vehicle models have performed against manufacturers’ expectations. The longer a vehicle remains on the lot, the more likely the manufacturer overestimated how popular it was going to be.

Pickup trucks, SUVs, crossovers, and electric vehicles were the year’s fastest sellers, according to Mark Strand, industry intelligence director for Cox Automotive—the company which used the data to compile the list below.

“Luxury and sports cars moved quickly post lockdowns, helped by the stock market surge,” he said. “Slower sellers tended to be sedans, particularly subcompacts.”

Take a look

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‘Priceless’ Chrysler Turbine Car resurfaces after private sale

By Michael J. Moody 3 days ago

Test drive: 2021 Chrysler Pacifica AWD

The 2021 Chrysler Pacifica AWD is the brand’s first all-wheel-drive minivan since 2004. Fox News Autos Editor Gary Gastelu puts it to the test in the snow.

A rare experimental turbine-powered Chrysler will be going for a spin once again.

The Chrysler Turbine Car is on display at the Stahl Automotive Foundation

The Chrysler Turbine Car is on display at the Stahl Automotive Foundation
(Stahl Automotive Foundation)

The 1963 Chrysler Turbine Car was one of 55 that were built to evaluate the use of turbine engines as part of an automobile powertrain and given to real-world drivers for short loans.

The thought was that a relatively simple, smooth operating engine that could run on a variety of fuels would offer a reliable and efficient alternative to piston engines, but poor emissions and fuel economy doomed it to the history books after a couple of years of testing.

All but nine of the cars were sent to

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