Car & Automotive

Used Car E-Retailing Space Heats Up With Vroom’s Nasdaq Debut

Amid coronavirus woes, e-commerce retailing and used vehicles are drawing interest from dealerships, customers and investors alike. Online auto retailing holds massive opportunities and is likely to transform the automotive market in a big way in the coming years. Used-car e-retailers including Carvana CVNA, CarMax KMX, AutoNation AN and CarGurus CARG are capitalizing on rapid proliferation of Internet and digital shopping. All these stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The used-car online retailer, Vroom is grabbing a lot of attention with its public-market debut lately. The stock is off to an amazing start and is likely to beef up competition in the online automotive retailing space. Shares of Vroom’s closest peer, Carvana have skyrocketed more than 600% from its 2017 IPO price. With automotive e-commerce holding significant promise, investors are super thrilled about

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Hi, Let’s Take a Trip

Elana ScherrCar and Driver

From the June 2020 issue of Car and Driver.

I need an icebreaker. Not the Russian Arktika-class variant, not that I don’t want a 75,000-hp ship capable of busting through 16 feet of solid ice, but where would I put it? My neighbors already look askance at the oil stains in my driveway. Also, I don’t think I could get away with nuclear re­actors.

I need the other kind of icebreaker, the one for parties where you have to talk to strangers but nobody’s drunk yet. Well, some of you might be, but for those who aren’t, I’m going to lean on the experts in long-distance communication.

 

“My first car was a Chevrolet Impala. It was gold, it was missing an axle, and I found it in the sandbox at the park.”

I was launched the same year NASA sent the Voyager

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Tesla’s China Car Registrations Jump In May; Stock Down In Pre-Market On Analysts’ Rating Cuts

Tesla Inc.’s (TSLA) China car registrations in May jumped 150% month on month, Reuters reported citing data from auto consultancy LMC Automotive.

The U.S. electric vehicle maker’s China registrations, including imported cars, grew to 11,565 in May from 4,633 units in April.

Data from the China Passenger Car Association shows sales of Tesla’s Shanghai-made Model 3 sedan hit 11,095 units in May.

Still, shares in Tesla continued to fall in Monday’s pre-market trading declining another 3.4% to $903.45 after dropping 3.9% on Friday. Meanwhile, year-to-date the stock has more than doubled.

Last week’s start of a downward trend was triggered by two rating downgrades from analysts at Morgan Stanley and Goldman Sachs.

Morgan Stanley’s Adam Jonas lowered his rating on the stock to Sell from Hold with a $650 price target (31% downside potential) amid concerns about U.S.-China trade dynamics as well as recent price cuts of some

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Petersen Automotive Museum Set To Reopen Soon

⚡️ Read the full article on Motorious

At long last, we can make our pilgrimage to this hallowed car museum.

During the coronavirus shutdowns, we gearheads have seen races, shows, and other events canceled right and left. Even car museums shuttered their doors. Thankfully, many of these fine facilities from around the world have been sharing online videos and more to keep us entertained and informed while we’ve been cooped up as well. Now things are loosening up and we’re seeing more of these facilities reopening, including Petersen Automotive Museum.

Photo credit: Petersen Automotive Museum

That’s right, starting on Friday, June 19, 2020 the car museum located in Los Angeles, California will open its doors to the public for the first time in months. As you probably already suspect, this reopening will come with social distancing and other measures designed to slow the spread of COVID-19

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