Headquartered in Tempe, AZ Fiscal year ends December NYSE: CVNA carvana.com
Carvana operates an e-commerce platform for buying and selling cars. Customers can shop, sell, finance and trade in vehicles entirely online, with delivery or local pickup as soon as the same day. Since launching in 2013, more than 4 million customers have used the platform.
Revenue comes from three lines:
- Retail vehicle sales.
- Wholesale vehicle sales and its ADESA wholesale marketplace.
- Other sales and revenues, including gains on sales of originated finance receivables, vehicle service contracts and related products.
The company is vertically integrated. It runs its own reconditioning centers, including 21 integrated ADESA locations, its own logistics network, vending machines and hubs, in-house auto financing and proprietary technology. Its current footprint provides fully built-out capacity for about 1.5 million annual retail units, with real estate to support 3 million.
Carvana recently began offering new vehicles on Carvana.com through its seven Stellantis franchise dealerships. Its stated mid-term goal is selling 3 million retail units annually, which it will express as a 12.5% GAAP operating margin target beginning in 2027. Updated
Total gross profit per unit fell $365 to $6,997 as Carvana handed customers loan rates below benchmarks, and GAAP EPS missed expectations. Management still guided full-year adjusted EBITDA to the higher end of its range.
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David Moadel Carvana operates an e-commerce platform for buying and selling cars. Customers can shop, sell, finance and trade in vehicles entirely online, with delivery or local pickup as soon as the same day.
24/7 Wall St.'s 12-month price target for CVNA is $82.33, rated Buy. The Wall Street consensus target is $81.33. CVNA price prediction →
