Carvana Stock Price, News & Analysis

Carvana Co. (NYSE: CVNA) announced its fourth quarter and full year 2022 financial results. Retail units sold for the year totaled 412,296, a 3% decrease year-over-year, while revenue was $13.604 billion, reflecting a growth of 6%. In Q4, retail units sold plunged by 23% to 86,977, with revenue declining 24% to $2.837 billion. Despite these challenges, Carvana reported gradual execution of an SG&A expense reduction plan and aims to achieve $1 billion in annual cost savings over the next six months while enhancing customer experiences.

Carvana, a leader in automotive e-commerce, supports legislation in Illinois ensuring customers can receive car deliveries at home, a service it has provided since 2014. This initiative is backed by State Senator Patrick Joyce and aims to protect vehicle home delivery amidst new restrictions. Carvana has invested over $60 million in Illinois, serving over 84,000 customers, including 32,000 home deliveries. The company emphasizes the convenience and accessibility of home delivery, especially for those facing mobility challenges. Carvana's customer-first model has made it the second largest automotive brand in the U.S., according to Forbes.

Carvana has launched its 34th Car Vending Machine in Denver, Colorado, marking the first in the state. This eight-story structure can hold up to 27 vehicles, enhancing the online shopping experience for local customers. Carvana offers the convenience of either picking up vehicles from the vending machine or opting for home delivery. Customers can activate the vending process with a commemorative coin. The new location showcases Carvana's diverse inventory catering to various vehicle needs, including trucks and electric cars. Operating hours are Monday through Saturday from 9 AM to 7 PM MST.

Carvana, an automotive e-commerce leader, celebrates a decade of innovation in online used car sales, serving millions of customers. The company utilizes proprietary technology and a robust logistics network to enhance customer experience. Key milestones include becoming one of the youngest companies to enter the Fortune 500 and achieving the title of the fastest growing used car dealer in U.S. history. Notably, Carvana reported a 129% revenue growth to $12.8 billion in 2021 and acquired ADESA for $2.2 billion, expanding its vehicle selection and delivery capabilities. Positioned for continued growth, Carvana aims to shape the future of automotive e-commerce.

Carvana, a leader in online auto retail, has announced an exciting addition to the 2023 Carvana Professional Pickleball Association (PPA) Tour. The company will award vehicles to the champions in both male and female categories at the end of the season, further enhancing the tour’s already substantial $5.5 million prize pool. This announcement coincides with the Arizona Grand Slam, featuring top athletes like Ben Johns and Anna Leigh Waters. Carvana aims to increase engagement with sports fans and promote pickleball's popularity through its title sponsorship at 25 events across the country this year.

Carvana (NYSE: CVNA) is sponsoring 50 automotive students from Atlantic High School in Port Orange, Florida, for a field trip to Daytona. This initiative is part of their #NoFinishLines campaign and collaboration with NASCAR legend Jimmie Johnson, who will meet the students and participate in a Q&A session. The event aligns with the launch of Atlantic High's new Automotive Maintenance and Light Repair program, which prepares students for careers in automotive repair and logistics. Carvana's commitment to community engagement reinforces its role as an online auto retail leader.

Carvana Co. (NYSE: CVNA) announced it will release its fourth quarter and fiscal year 2022 financial results on February 23, 2023, after market close. A conference call will follow at 5:30 p.m. ET to discuss the results. Investors can access the archived webcast on the company's Investor Relations website. Carvana is known as the fastest growing used automotive retailer in U.S. history, providing an ecommerce platform for buying and selling used cars, featuring options like a 7-day money back guarantee and home delivery.

Carvana surprised rising pickleball star Anna Leigh Waters with her dream car at one of its signature Car Vending Machines for her 16th birthday. The heartwarming event, planned with the help of Waters' family, highlights Carvana's commitment to spreading joy in the pickleball community. In 2023, Carvana will sponsor the Carvana PPA Tour, hosting 25 events and showcasing the fast-growing sport, with a total prize pool exceeding $5.5 million. Carvana, listed on NYSE as CVNA, continues to innovate in online auto sales, enhancing customer experiences with services like home delivery and a 7-day money-back guarantee.