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Ravi Simhambhatla appointed Executive Vice President and Chief Technology and AI Officer at AutoNation. October 3, 2026 Ravi Simhambhatla has been appointed Executive Vice President and Chief Technology and AI Officer at AutoNation, effective October 1, 2026. In his new role, he will lead the company's technology, data science and artificial intelligence agenda. Simhambhatla brings more than 30 years of experience in enterprise technology and digital transformation, with expertise across data, artificial intelligence, cybersecurity, product innovation and customer experience. His career has included senior technology and digital leadership positions across the automotive, aviation, technology and transportation sectors. Prior to joining AutoNation, Simhambhatla served as Executive Vice President and Chief Digital and Innovation Officer at Avis Budget Group. He joined Avis Budget Group in 2022 and led its global technology organisation. In his most recent role, his responsibilities included technology, product, data, engineering, infrastructure and cybersecurity, while also advancing the company's adoption of AI and connected-fleet technology. Before Avis Budget Group, Simhambhatla served as a Managing Director at Google Cloud, where he advised major enterprises on cloud, data and AI transformation. Earlier, he held technology leadership positions at United Airlines, including Vice President and Chief Technology Officer, and previously served as Vice President, Commercial Technology. His earlier career includes senior technology roles at Aer Lingus, Tesla Motors and Virgin America. At Aer Lingus, he served as Chief Technology Officer, while at Tesla he was Vice President of Information Technology. He later served as Chief Information Officer at Virgin America, where he was involved in building the airline's digital and e-commerce platforms. At AutoNation, Simhambhatla will bring this experience to a technology leadership role spanning technology, data science and AI. The appointment comes as the automotive retailer looks to use technology and AI across its business and customer operations. AutoNation CEO Mike Manley said, "Technology, data science, and the intelligent use of AI give us the opportunity to get significantly more from that foundation: to raise the returns on our capital and extend our reach well beyond traditional geographic boundaries." Simhambhatla said, "I am honored to join AutoNation at an important point in the evolution of automotive retail." He added that he looks forward to applying technology and AI in practical ways to make the customer journey easier, equip associates with better tools and insights, and support the company's next phase of growth. With his appointment, Simhambhatla takes on responsibility for AutoNation's technology, data science and AI agenda, bringing more than three decades of experience across enterprise technology, digital transformation, data, AI and cybersecurity to the role. - Advertisement -

AutoNation jumps 5.8% amid sector-wide rally. AutoNation, Inc. surged 5.8% on Thursday to close at $166.65, lifted by a broad rally across the automotive dealership sector. The move came as three of Aut... AlphaStreet Newsdesk powered by AlphaStreet Intelligence AutoNation, Inc. surged 5.8% on Thursday to close at $166.65, lifted by a broad rally across the automotive dealership sector. The move came as three of AutoNation's sector peers posted similar gains, signaling renewed investor confidence in the space. Lithia Motors (LAD) climbed 3.8%, Asbury Automotive Group (ABG) advanced 3.2%, and Group 1 Automotive (GPI) jumped 5.3% in coordinated trading that pushed the entire sector higher. The synchronized rally suggests institutional money is rotating back into automotive retail. AutoNation's 5.8% gain outpaced two of its three major peers, with only GPI posting a stronger performance on the day. The broad-based nature of the move - with all four companies advancing in lockstep - points to sector-wide optimism rather than company-specific news. Trading volume reached 313,017 shares as investors responded to the positive sentiment sweeping through the dealership space. Discover more Company earnings calendar Financial data API Business news aggregator AutoNation now commands a market capitalization of $5.5 billion following Thursday's climb. The company operates as one of the nation's largest automotive retailers, and its stock performance often moves in tandem with broader trends in vehicle sales, financing conditions, and consumer spending patterns. Thursday's rally comes amid heightened trading activity in the automotive dealership sector, though volume data compared to historical averages would provide additional context on the strength of conviction behind the move. Stocks & Bonds The coordinated gains across major dealership operators suggest investors are reassessing the sector's near-term prospects. Whether driven by expectations for stronger vehicle demand, improved inventory conditions, or favorable financing trends, the unified move higher indicates a shift in sentiment that extends beyond any single company's fundamentals. What to Watch: Investors should monitor whether this sector-wide momentum continues or if Thursday's gains represent a one-day rotation. Any upcoming vehicle sales data, interest rate developments affecting auto financing, or management commentary from sector leaders could provide clarity on whether fundamentals support the renewed optimism in automotive dealership stocks. This content is for informational purposes only and should not be considered investment advice. AlphaStreet Intelligence analyzes financial data using AI to deliver fast and accurate market information. Human editors verify content. Discover more Company News

Why is Carvana stock sliding today? Published Sep 28, 2026, 11:15 AM (C) Reuters. Investing.com - Carvana Co. stock slid 5.7% in morning trading to trade at $61.33, pressured by a toxic mix of unresolved company-specific overhang and a risk-off session across U.S. equity markets, with no fresh positive catalyst available to stem the selling. The move pushes shares closer to their 52-week low of $54.46, a level that underscores just how far the stock has retreated from its 52-week peak of $97.38 reached in January 2026. The most persistent cloud over Carvana in 2026 has been a federal investigation into billionaire Mark Walter, who indirectly controls a meaningful stake in the company's Class B common stock. Prosecutors and the SEC have been scrutinizing whether certain financial relationships were concealed while billions moved through insurance entities tied to his empire, stoking investor fears about potential forced liquidation of his Carvana position. Separately, a short-seller report earlier in the year alleging accounting irregularities tied to related-party transactions triggered a securities fraud investigation, further eroding confidence in the stock. On the macro front, the broader market is under pressure today, with the S&P 500 off 0.8%, the Dow down 0.7%, and the Nasdaq declining 0.9%. For a stock with a beta as elevated as Carvana's - historically ranging between 2.8 and 3.5 - a down day for the major indices tends to translate into an outsized decline. The consumer discretionary sector, where Carvana competes alongside peers such as CarMax and AutoNation, has broadly underperformed the market in 2026 amid concerns about high interest rates squeezing demand for large-ticket purchases like used vehicles. -4.59 (-7.06%) Closed · 15:59:59 · USD +0.33 (+0.55%) After Hours · 15:15:45 Start trading CVNA now Taken together, today's decline reflects the compounding effect of a high-beta stock carrying unresolved legal and regulatory risk into a weak tape. With the next earnings report expected around late October 2026, investors appear reluctant to add exposure ahead of what could be a pivotal quarter for management to reassure the market, leaving CVNA vulnerable to further selling pressure in the near term. Where's the stop-loss on CVNA? Most traders can read a chart. The hard part is committing: the entry window is open, the pattern is forming, and you're still waiting for confirmation. Our Vision AI literally sees your CVNA chart and returns a complete trade plan - entry, stop-loss, and profit target - in under 60 seconds. Stop guessing where the stop goes.