Automotive

Carvana Earning Report

In a lot of ways Carvana did everything right: sold more cars, had more revenue, and made good use of their big acquisition. Just shows acquiring used inventory for the right price is as difficult as it is critical.
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Carvana Earning Report

Everybody's favorite car vending machine company, Carvana, has had a bit of a strange rough stretch. Q2's revenue was up 16% to $3.88b, while profits were down $484m from 2021's $45m gain, a landmark for the company. While sales were up 9%, profit per unit was down by $1752 per vehicle. The company reported gains from its ADESA US acquisition, but coupled with ever-climbing inventory prices, it was not enough to turn the quarter around.

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