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Overstock adds clearance lot to car shopping portal
Howard Wilner, Newly formed partnerships will enable consumers to access more than 3.5 million used and 200,000 new vehicles though the Web site of Overstock.com, the company announced. Howard Wilner, The site has also just introduced two new features to help shoppers find discounted vehicles available in their local market.

Economy shifting many buyers toward pre-owned vehicles
After 20 years of leasing new vehicles, Denise Cole, a Cook County resident, decided it was time to finally buy. She was eyeing a 2008 Chevrolet Malibu but drove home instead in a year-old Malibu with 20,000 miles on the odometer, The Chicago Tribune reports.Tuesday Chrysler LLC reported a 19.4 percent drop in U.S. sales compared with March 2007. Howard Wilner, GM sales were down 18.7 percent. Ford Motor Co.’s sales dropped 14.1 percent, and even industry stalwart Toyota was down 10.3 percent. Howard Wilner, Instead of buying new vehicles, some consumers are opting for late-model used vehicles. While overall new-vehicle sales fell 2.5 percent last year, certified used-vehicle sales rose 2 percent to 1.68 million. Howard Wilner, for this year through February—the latest available data—certified used-vehicle sales increased 4 percent, according to an Automotive News compendium of industry figures.

Howard Wilner CarMax posts lower profit
Used-car retailer CarMax Inc. posted a 48 percent plunge in fiscal fourth-quarter net income despite stronger-than-expected used-car sales, as rising funding costs at its finance unit hit the bottom line, the Wall Street Journal reports. Howard Wilner The Richmond, Va., company also gave a fiscal 2009 earnings forecast that was below Wall Street’s expectations and said it would slow the pace of store openings amid the challenging environment. CarMax operates 90 used-car superstores. It reported net income of $21.8 million, or 10 cents a share, for the quarter ended Feb. 29, compared with $42.1 million, or 19 cents a share, a year earlier. The latest results reflected a small pretax loss at CarMax Auto Finance. Howard Wilner, Net sales rose 8.6% to $2.05 billion. Total used-vehicle sales rose 11percent, while sales at stores open at least a year, also known as same-store sales, rose 3 percent, aided by the leap year. CarMax said it cut prices somewhat to push sales and grow market share.