Vehicle listings company CarGurus turned a profit in the second quarter as revenue tumbled during the coronavirus pandemic, reflecting discounted dealership subscriptions to its online marketplace. The Cambridge, Mass., company on Thursday reported revenue of $ 94.7 million in the…
Tag: outbreak
KAR to furlough employees, reduce executive salaries amid outbreak
KAR Global will temporarily furlough a “significant portion” of its work force and company executives will cut their salaries as the wholesale vehicle-auction company works to counter the financial impact of the COVID-19 virus outbreak, it said Friday. KAR also…