Last year was a wreck for Carvana, the online used-car seller known for its tall glass “car vending machines.” In 2022, the company sold fewer cars than it had the year before — the first time that’s happened in nine years — and the company’s losses grew as the used car market soured. Overall, Carvana’s losses ballooned to $806 million, or $7.61 per class A share of stock, compared to $89 million in the last quarter of 2021. For the full year, the company lost $1.
The number of cars Carvana sold in the fourth quarter last year dropped 23% from a year earlier to about 87,000 while overall revenue declined 24%. For the full year, Carvana sold 3% fewer vehicles while revenue, at $13.6 billion, increased 6%. Carvana has been aggressively reducing its inventories, the company said, cutting the number of vehicles held in inventory by 27% in the fourth quarter. “This last year has been a massive change in priorities for the company.
Yeah, or the footnotes...
Carvana Losing share Q4 sales volume down 23% vs overall US used car sales 'only' down 8% Falling knife: avg used car price ~flat y/y in Q4. But were rising steeply in 2021 vs. falling in 2022 Interest rates climbing = V Bad combo of factors for $cvna, buying cars at a…
Susan from Carvana won't be able to drive you happy anymore
As purposely made inflation of corrupted takes another victim
Carvana was selling stolen cars and cars without titles.
OMG 🫢🫢
Business vision is much more important than an Ivy League MBA. Brace yourself, by July, 2008 will look like the good old days.
SaraShirazi is an Iranian student who was beaten by a pro-regime woman. You know for what reason? Her hijab was not “proper”. IRGCterrorists are threatening the girl's family to keep quiet, warning them that if they speak out, the girl will suffer the same fate as MahsaAmini
Dr. Ebrahim Rigi was arrested during a recent protest in Zahedan. Ebrahim had been released on bail but was arrested again by IRGCterrorists yesterday and murdered in police custody under torture. He was known to help provide medical care to wounded protestors. IRGCterrorists
Who would buy a gas car now Joe Biden is on record in the SOTU saying the US will not use any oil or gas in 10 years, that means phasing out 10% a year for the next 10 years means gas will become ultra-expensive.
I'm sure it wasn't ..... Over pricing the crap out of cars, adding huge delivery fees, and refusing to negotiate or entertain fair offers.
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