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Carvana

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Carvana converts Stellantis dealers into interactive playgrounds for online new-car buying
business24 days ago

Carvana converts Stellantis dealers into interactive playgrounds for online new-car buying

Carvana is expanding its online-first strategy into new-car sales by acquiring Stellantis franchised stores and converting them into service hubs and brand-themed “playgrounds” where customers can explore, customize, and test-drive vehicles through QR-guided experiences before completing purchases online. The Dallas location showcases the concept with hourly staff and no traditional finance offices, and on-site inventory is limited, raising questions about broader rollout and supply logistics as the company seeks to grow its market share and support its used-vehicle business.

via CNBC|
#business#carvana#franchised-dealerships
Carvana bets on new-vehicle franchises to upend U.S. auto retail
business25 days ago

Carvana bets on new-vehicle franchises to upend U.S. auto retail

Carvana is expanding from used cars into new-vehicle franchises, acquiring seven Stellantis stores (including a high-volume Casa Grande, AZ location) and signaling a potential shakeup of the U.S. franchised dealer model. The move leverages Carvana’s online-to-offline platform, a nationwide reconditioning capacity, and possible exclusive auctions, but faces regulatory and post-sale service questions across states. Analysts say the strategy could inject competition and alter how vehicles are bought, sold, and serviced across the lifecycle (new, used, parts, and financing).

via CNBC|
#auto-industry#business#carvana
Carvana Posts Record 2025 Results, Outlines Ambitious Growth Path
business4 months ago

Carvana Posts Record 2025 Results, Outlines Ambitious Growth Path

Carvana reported record 2025 results: 596,641 retail units sold (up 43%), revenue of $20.322B (up 49%), net income $1.895B, and Adjusted EBITDA $2.237B (11.0% margin); Q4 2025 saw 163,522 units, $5.603B revenue, net income $951M, and Adjusted EBITDA $511M (9.1%). Management calls for continued growth in 2026 and maintains a long-term plan to reach 3 million annual retail units with about 13.5% Adjusted EBITDA margin by 2030–2035, emphasizing profitability and scale.

via Carvana|
#adjusted-ebitda#business#carvana
business5 months ago

Carvana slides 9% as Gotham City’s $1B accounting-gap allegations surface

Carvana’s stock fell about 9% after Gotham City Research accused the company of accounting irregularities and undisclosed related-party transactions, highlighting DriveTime and Bridgecrest ties and claiming earnings were overstated by more than $1 billion; the report suggests potential restatements and delays for 2023–2024 disclosures, with Carvana having not yet commented.

via Investing.com|
#accounting-irregularities#bridgecrest#business
Carvana stock sinks after short-seller alleges earnings inflated
business5 months ago

Carvana stock sinks after short-seller alleges earnings inflated

Gotham City Research accused Carvana of overstating 2023-2024 earnings by more than $1 billion and of heavy reliance on related-party financing from DriveTime and Bridgecrest tied to the Garcia family, sending the stock down about 14% and marking the second-worst trading day in the past year; CNBC did not verify the allegations, and Carvana's shares have been volatile since a 2022 bankruptcy scare.

via CNBC|
#business#carvana#drivetime
Arizona and Northwestern Billionaires Make Forbes 400 List Amid Record Wealth
business10 months ago

Arizona and Northwestern Billionaires Make Forbes 400 List Amid Record Wealth

Seven Arizona billionaires, including Ernest Garcia II and his son Ernest Garcia III, made the 2025 Forbes list of the 400 richest Americans, with Garcia II being the wealthiest in Arizona at $23.1 billion. Other notable Arizona billionaires include George Kurtz, Arte Moreno, Stewart Horejsi, Bob Parsons, and Mark Shoen. Elon Musk topped the national list with $428 billion.

via KTAR News 92.3 FM|
#arizona#billionaires#business
Carvana's Stock Surges on First Annual Profit and Upbeat 2024 Outlook
finance2 years ago

Carvana's Stock Surges on First Annual Profit and Upbeat 2024 Outlook

Carvana's stock surged up to 40% after the company reported its first annual profit and issued strong guidance, with net income of $150 million for 2023. The company's aggressive focus on achieving profitability and restructuring its debt has led to a turnaround, with short sellers facing significant losses. Analysts have upgraded the stock, but some remain cautious about long-term visibility and the company's ability to maintain elevated unit economics once returning to growth.

via Yahoo Finance|
#annual-profit#carvana#finance
Carvana's Stock Skyrockets on First Annual Profit and Upgraded Analyst Ratings
business2 years ago

Carvana's Stock Skyrockets on First Annual Profit and Upgraded Analyst Ratings

Carvana's stock surged 30% after reporting its first annual profit and receiving upgrades from two Wall Street analysts. The used-car retailer posted a net income of $450 million for 2023, a significant turnaround from its $1.59 billion loss in 2022. The company is currently in the second phase of a three-step restructuring plan and aims to grow retail units sold in 2024. Analysts at Raymond James and William Blair upgraded Carvana's rating, citing encouraging profit increases and unit growth, with the company's CEO emphasizing a focus on current inventory and future expansion.

via CNBC|
#analyst-upgrades#annual-profit#business
"Stocks Surge as Nasdaq Nears All-Time High and Nvidia Hits $2 Trillion Market Cap"
finance2 years ago

"Stocks Surge as Nasdaq Nears All-Time High and Nvidia Hits $2 Trillion Market Cap"

Carvana stock soared over 35% after reporting declining revenue but a strong outlook, while Nvidia continued its surge, crossing the 800 level after reporting triple-digit earnings and revenue growth. The Dow Jones, S&P 500, and Nasdaq composite saw modest gains, with Amgen and Nvidia leading early. The Nasdaq composite closed in on its all-time high, while the S&P 500 and Dow Jones marked new highs. Other notable movers included Live Nation, Super Micro Computer, and Square-parent Block, with the 10-year Treasury yield slipping to around 4.30%.

via Investor's Business Daily|
#carvana#earnings#finance