JP Morgan downgrades auto marketplaces amid tariff headwinds
Investing.com -- JP Morgan downgraded several auto marketplaces, including Openlane Inc (NYSE:KAR), CarGurus (NASDAQ:CARG), and Truecar Inc (NASDAQ:TRUE) citing significant headwinds from newly imposed 25% tariffs on imported automobiles and parts. The firm sees prolonged supply disruptions and higher vehicle costs as negative for the overall auto retail ecosystem.