Carvana cuts 2,500 jobs after posting net loss of $506M
In a regulatory filing this week, Carvana said that it has laid off 2,500 of its employees, accounting for 12% of its workforce. Most of the affected employees were reportedly working in...
TSLA391.8902.99%
GM80.2602.21%
F12.7200.28%
RIVN17.2000.31%
CYD41.915-0.405%
HMC24.9400.58%
TM215.2702.41%
CVNA375.83013.59%
PAG159.0853.065%
LAD282.6007.73001%
AN203.3405.05%
GPI342.2456.73%
ABG209.8005.71%
SAH69.9902.62%
TSLA391.8902.99%
GM80.2602.21%
F12.7200.28%
RIVN17.2000.31%
CYD41.915-0.405%
HMC24.9400.58%
TM215.2702.41%
CVNA375.83013.59%
PAG159.0853.065%
LAD282.6007.73001%
AN203.3405.05%
GPI342.2456.73%
ABG209.8005.71%
SAH69.9902.62%
TSLA391.8902.99%
GM80.2602.21%
F12.7200.28%
RIVN17.2000.31%
CYD41.915-0.405%
HMC24.9400.58%
TM215.2702.41%
CVNA375.83013.59%
PAG159.0853.065%
LAD282.6007.73001%
AN203.3405.05%
GPI342.2456.73%
ABG209.8005.71%
SAH69.9902.62%
carvana
Sonic Automotive opens EchoPark retail hub in Missouri
In a press release this week, Sonic Automotive said that its EchoPark brand has now expanded into Missouri as part of its goal to have 90% coverage throughout the U.S. by 2025....
Carvana sales drop in Q1 for the first time ever
After performing exceptionally well throughout the pandemic, Carvana reported that overall sales had dropped for the first time ever. Carvana sales totaled 105,185 for the first quarter, down almost 8,000 from Q4...
KAR Global sells ADESA auction business to Carvana in $2.2B deal
On Thursday, KAR Global agreed to terms of a deal that sees all ADESA auction operations and businesses in the US transfer to Carvana. The deal is worth $2.2 billion...
Carvana expansion shows the importance of growing online car sales
Carvana announced this week it had opened its brand new campus in Georgia, which is one of its largest campuses and will add 1,500 jobs in the state. This marks...
How to sell better than your online-only competition
As transaction prices on new and used vehicles soar, competition for today’s auto buyers is fierce. But it’s not just local competitors dealers need to contend with. Rapid digitalization due...
Carvana shows growth but takes a financial loss on Q3 2021 results
Growing sales and great profit margins weren’t enough to push Carvana into the black through the third quarter of 2021. In the shareholder letter issued on November 4 from founder...
From recon to retail: Passing the baton from the backend to the frontend
Although prices are beginning to ease for used vehicles, inventory levels are still not where they need to be for franchise dealers across the country. With new-vehicle inventory levels at...
Is having a wholesale profit a bad thing nowadays?
Welcome to this week’s episode of Used Cars Weekly, the original CBT News show dedicated to bringing car dealers best practices and tips for the used car department, in-depth dealer interviews,...
Carvana & CarMax’s ramped-up reconditioning operations make efficient & lean recon operations an imperative for dealers
Nearly every dealer in the country is feeling the pinch on new and used vehicle inventories, with sellable inventory levels down as much as 70% for some dealers. To offset...
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