[2022-12-20] What Happened To Carvana?

What Happened To Carvana?

CNBC

Tuesday, December 20, 2022

#CNBC

https://www.youtube.com/watch?v=_gynGb97rPc

Throughout the coronavirus pandemic, several factors propelled Carvana’s business forward. At its peak in August 2021, the online used car retailer reached a market capitalization of around $60 billion. By the end of the year, it was ranked just behind behemoth CarMax as having sold the largest number of used vehicles that year. Carvana even became one of the youngest companies to make the Fortune 500 list. But since then, Carvana has struggled. The company’s future now seems in question, as it faces ever-increasing competition and an uncertain economic outlook that plagues consumers.

Produced by: Magdalena Petrova
Supervising Producer: Jeniece Pettitt
Editorial Support: Michael Wayland
Graphics: Jason Reginato

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