Used-car prices fall as ending leases fill dealer lots
It's a good time to buy a used car. Millions of previously owned cars and trucks are flooding the market as leases expire and customers look to upgrade. Prices have fallen since the start of the summer, and inventories are climbing. It's a delayed …
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Lithia says profit hurt by drop in used car prices, sector stocks fall
(Reuters) – U.S. auto dealer Lithia Motors Inc (LAD.N) said a drop in used-vehicle prices hurt third-quarter profit and the company also cut its fourth-quarter forecast, signaling that a recovering auto sales market would weigh on the earnings of dealers.
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Car Dealers Crash On Lithia News Of Weak Used Car Prices LAD KMX
A drop in used-car values damaged third-quarter earnings at Lithia Motors (NYSE:LAD) and caused it to reduce per-share earnings guidance well below Wall Street views, the Oregon-based auto dealer said Monday, sending the IBD 50 stock crashing 19%.
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