Tesla partners with outside companies to sell used cars: report

Tesla Inc. TSLA, -0.24% is working with outside firms, including Manheim and a division of Kar Auction Services, to manage its used-car business, according to a report on CNBC that cited two people familiar with the matter. Tesla has offered leases on its luxury vehicles. According to the report, most vehicles sent to the partners are Teslas coming off leases, and others are trade-ins, repossessed cars, or “lemons.” Tesla shares were up 0.2% Monday, bringing year-to-date gains to 14%, contrasting with an advance of 0.5% for the S&P 500 index SPX, -1.66% this year.

Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.

Powered by WPeMatico

AdSense Car Parts