Automotive

Carvana Reports Larger Than Expected Q1 Losses

Dealers are trying to add the right amount of online presence to their operations. Will Carvana look to add a little more physical presence to its operations?
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Carvana Reports Larger Than Expected Q1 Losses

Online used car retailer Carvana shares have dropped 20% over the last two days and are down 80% from their 2021 summer peak. The purchase of ADESA US over the summer forced the company to sell $2B in common and preferred stock at a low price. 

The numbers. Carvana's sales declined in Q1 2022 compared to Q4 2021, causing net losses to grow from $36M to $260M in a year.

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