According to Cox Automotive data, Americans spent $655 billion buying new cars in 2025, compared with $524 billion spent on buying used cars.
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Shares in rival used car retailers went into reverse gear following the announcement of Hertz’s Amazon partnership.
Ferrari reported improved sales and earnings in the third quarter, extending its streak of outperforming other luxury auto companies.
The Biden administration is introducing a ban on both hardware and software for “connected vehicles” from China and, incidentally, Russia.