In one year, significant business changes have made headlines. AutoNation CEO Mike Manley sold Detroit’s largest home, the 100-year-old Bishop Mansion, for $1.25 million – a steep drop from its 2023 price of $9 million.
Carvana’s stock surge has also had a major impact on investors. The company’s value rose by over 10,000%, resulting in mark-to-market losses of $7.42 billion for short sellers who bet against the company.
In another unexpected move, a woman took revenge after her car was repossessed from a local dealership. Tiah McCreary registered the dealership’s name to herself as a result. Meanwhile, Toyota has successfully navigated tariffs affecting its exports.
Other top stories this week include changes in dealership names and auto industry trends.
Source: https://www.autonews.com/volkswagen/ane-germany-market-analysis-first-half-2025-0725