Welcome to our dedicated page for Carvana news (Ticker: CVNA), a resource for investors and traders seeking the latest updates and insights on Carvana stock.
Carvana Co. (symbol: CVNA) is revolutionizing the way consumers buy and sell used cars through its state-of-the-art e-commerce platform. By eliminating traditional dealerships and their associated costs, Carvana offers significant savings, passing these benefits on to consumers. Customers can browse a wide variety of high-quality vehicles, secure financing, and make a purchase—all online. The company even provides delivery as soon as the next day, making the car-buying process convenient and hassle-free.
Carvana’s business model centers on retail vehicle unit sales, which serve as the primary revenue driver. In addition to vehicle sales, the company generates revenue from wholesale vehicle sales, the sale of loans originated and sold through securitization transactions or to financing partners, and commissions received on vehicle service contracts (VSCs) and Guaranteed Asset Protection (GAP) waiver coverage. These multiple revenue streams solidify Carvana’s position as a leader in the online automotive marketplace.
Committed to transparency, Carvana prides itself on offering vehicles with no hidden fees, providing a better experience for customers. On average, customers save $1,681 compared to Kelley Blue Book prices. The company continues to expand its inventory with premium cars and offers various additional services such as auto insurance and trade-in options. In terms of growth, Carvana has seen significant achievements and continues to innovate in the online car sales space.
For those interested in joining the Carvana team, the company regularly posts job openings on its careers page.
- Recent Achievements: Streamlined delivery services for faster customer experience.
- Current Projects: Expansion of inventory and enhancement of the e-commerce platform.
- Financial Condition: Steady revenue growth driven by increased vehicle sales and additional revenue streams.
- Partnerships: Collaborations with financing partners for loan origination and securitization transactions.
Carvana (CVNA) reported record financial results for Q4 and full year 2024. The company achieved total revenue of $13.67 billion (+27% YoY) and sold 416,348 retail units (+33% YoY) in 2024. Notable achievements include:
- Full year net income of $404 million with 3.0% margin
- Record adjusted EBITDA of $1.38 billion with 10.1% margin
- GAAP Operating Income of $990 million
In Q4 2024, Carvana sold 114,379 retail units (+50% YoY) generating revenue of $3.55 billion (+46% YoY), with net income of $159 million and adjusted EBITDA of $359 million. The company expects significant growth in both retail units sold and Adjusted EBITDA for 2025, including sequential increases in Q1 2025.
Carvana (NYSE: CVNA) has released an EV Trends Report showcasing significant growth in used electric vehicle adoption. The company's EV sales mix stands at 5.7% of 2024 sales, substantially higher than the industry average of 1.3%.
Key findings reveal that cost savings on fuel is the primary motivation for EV purchases, followed by vehicle style and performance. The report highlights that 80% of EV owners primarily charge at home, and 86% drive less than 50 miles daily, resulting in minimal reliance on public charging infrastructure. Despite this, over half of EV owners use their vehicles for long road trips.
The report also indicates strong category loyalty, with 88% of EV owners more likely to consider an EV for their next purchase. Carvana is responding to this trend by enhancing its EV-specific processes to maintain customer experience quality.
Carvana (NYSE: CVNA) announced plans to integrate an Inspection and Reconditioning Center (IRC) with the existing ADESA Indianapolis wholesale auction site, creating an auction-IRC 'Megasite'. The Plainfield, IN facility spans over 100 acres with nearly 12,000 parking spaces, combining wholesale auction operations with Carvana's inspection and reconditioning capabilities.
The integration is expected to create approximately 200 new local jobs over time. The Megasite will increase Carvana's total reconditioning capacity, improve vehicle selection nationwide, and enhance delivery efficiency with potential same-day delivery for local customers. The site will utilize Carvana's proprietary CARLI software to support efficiency and consistency across its IRC network.
Carvana has unveiled a unique collaboration between seven-time NASCAR champion Jimmie Johnson and basketball Hall of Famer Shaquille O'Neal, resulting in a custom paint scheme for Johnson's No.84 Toyota at Daytona. The design, revealed at Shaq's Fun House in New Orleans on February 7, features elements from O'Neal's 1990s basketball career, including pinstripes and the iconic 'Dunkman' logo on the hood.
The special paint scheme emerged from a playful online exchange between the two sports legends, culminating in a friendly wager. The car will make its debut during DAYTONA 500 qualifying on February 12, with the main race scheduled for February 16, 2025, at Daytona International Speedway, broadcasting on FOX at 2:30 p.m. ET.
ADESA, owned by Carvana (NYSE: CVNA), announced expansion plans for its proprietary online auction product, ADESA Clear, in 2025. The platform, which began testing in late 2023, combines ADESA's wholesale auto expertise with Carvana's technology capabilities.
ADESA Clear currently offers timed online wholesale auctions with transparent pricing, detailed vehicle condition reports including OBDII scans and engine audio, and Carvana-powered visual merchandising. The platform features AI-based vehicle recommendations and machine learning-powered valuations, operating across multiple metro areas including Washington D.C., Atlanta, Birmingham, Charlotte, and others.
The 2025 expansion will include increased vehicle selection, broader geographic reach across the Carvana-ADESA network, and new tools to enhance both digital and in-lane auction platforms.
Carvana (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, has announced an upcoming institutional investors and analysts tour at its Haines City, Florida Inspection and Reconditioning Center scheduled for March 6, 2025. The event will feature senior leadership from Carvana's Inventory and Fulfillment teams, who will provide an operational overview and participate in a Q&A session. Due to space, interested investors are required to express their interest via email at investors@carvana.com.
Carvana (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, has announced it will report its fourth quarter and fiscal year 2024 financial results on Wednesday, February 19, 2025, after market close. The company will host a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to discuss the results.
The conference call will be accessible via phone at (833) 255-2830 or (412) 902-6715. A replay will be available until February 26, 2025, by dialing (877) 344-7529 or (412) 317-0088 with passcode 2061293#. An archived webcast will be available on the company's Investor Relations website.
Carvana (NYSE: CVNA) has launched a new marketing campaign featuring actors Kristen Bell and Dax Shepard to showcase its online car buying platform. The campaign, developed by Carvana's in-house creative team, demonstrates how the company's digital tools accommodate different car-shopping styles.
The new commercial portrays Bell and Shepard using distinct approaches to car shopping on Carvana's platform, ultimately selecting the same vehicle. This highlights the platform's versatility in serving various customer preferences, from quick decision-makers to thorough researchers.
The campaign will be distributed across digital and broadcast platforms nationwide in the coming weeks, emphasizing Carvana's commitment to providing transparent, user-friendly tools for online vehicle purchases.
Carvana (NYSE: CVNA) has announced a multi-year partnership with Rush Soccer, the world's largest youth soccer club with over 60,000 players nationwide. As the front-of-kit partner, Carvana's logo will appear on all Rush game jerseys starting August 2025.
The partnership aims to enhance youth soccer experiences by reducing financial barriers and includes Carvana's involvement in community initiatives, event activations, and content collaborations across Rush Nation. Carvana will also become the presenting sponsor of two major Rush tournaments.
The newly designed Rush Soccer jerseys featuring Carvana's logo were unveiled at the United Soccer Coaches Convention on January 11, 2025. The collaboration focuses on supporting youth soccer development and fostering community engagement through sports.
Carvana (NYSE: CVNA) announced plans to integrate an Inspection and Reconditioning Center (IRC) at its existing ADESA Atlanta wholesale auction site, creating an auction-IRC 'Megasite'. The Fairburn, GA facility spans over 100 acres with nearly 12,000 parking spaces and will maintain both digital and in-lane auction operations while adding new IRC capabilities.
The integration is expected to create approximately 200 new jobs in the area and will increase Carvana's total reconditioning capacity. The Megasite will enhance local retail and wholesale customer experience by providing access to more vehicles with same or next-day delivery options. The transition will be facilitated by the site's existing infrastructure and Carvana's proprietary CARLI software system.
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