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Ziegler sees no point in debating Wall Street analysts and investors who continue to pour money into Carvana despite the company’s unsustainable business model and the federal crimes committed by two of its biggest players.
Carvana’s first-quarter results include triple-digit gains in net revenue and consumer-sourced inventory, but losses continue to mount, growing 57% to $82.6 million year-over-year.
Carvana made a splash in the latest used-car retailer rankings, but analysts say the dealer disruptor is losing too much money and will never turn a profit.
Carvana broke into the top 10 in its first appearance on Automotive News’ list of the nation's Top 100 Used Retailers, more than doubling its output to more than 94,000 units and outpacing the Asbury, Larry H. Miller, and Ken Garff groups.
In two separate announcements, Carvana today announced that it has partnered with Associated Credit Union and LGE Community Credit Union to offer their members access to certified and competitively priced vehicles through an online car-buying experience.
Fueled by more than $460 million in additional funding, online pre-owned retailer Carvana is expanding into Cincinnati, the company announced today.
Carvana is continuing its ongoing market expansion with its official launch in Washington, D.C. The online pre-owned retailer now provides next-day delivery to nearly 103.5 million customers nationwide, including more than 13.2 million in the Washington, D.C., area.
Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.