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. operates an automotive e-commerce platform for buying and selling used vehicles online. Company news commonly covers retail unit growth, quarterly financial results, online vehicle shopping and selling features, financing and trade-in capabilities, and delivery or pickup options including same-day service in selected markets.
Updates also track Carvana's national operating infrastructure, including Inspection and Reconditioning Centers, ADESA wholesale auction sites, CARLI software used in reconditioning operations, and Car Vending Machine locations. Other recurring developments include stockholder actions, equity-related programs, market expansion, customer experience initiatives, and brand partnerships tied to the company's online auto retail model.
Carvana (NYSE: CVNA) has partnered with Chip Ganassi Racing and Jimmie Johnson for its second year of sponsorship in the NTT INDYCAR SERIES, enhancing fan engagement and introducing community-driven initiatives. The new Driven to Give Back program will raise funds for charities including TechForce Foundation, The American Legion, and Athena Racing. Race fans can expect exclusive behind-the-scenes content, promoting equity and education in the automotive industry, along with a new video series featuring Johnson's rookie season.
Carvana (NYSE: CVNA) has opened its 31st Car Vending Machine in Escondido, California, marking its third in the state. This eight-story facility can accommodate up to 27 vehicles, allowing customers to browse an inventory of over 70,000 used cars. Customers benefit from a seamless online shopping experience, 7-day return policy, and a 150-point vehicle inspection. The San Diego location emphasizes Carvana's commitment to revolutionizing car buying by providing automation and convenience. Vehicle pick-up is free for customers at all vending machine locations.
Carvana Co. (NYSE: CVNA) will present at the Wolfe Research Consumer Conference on March 4, 2022, at 1:40 p.m. ET. This virtual event will showcase Carvana's innovative online car buying and selling platform, aimed at enhancing customer experience through technology. A webcast of the presentation will be available on Carvana's investor relations website, with an archived replay following the live event. Carvana, founded in 2012 in Phoenix, serves over 300 U.S. markets, offering a seamless platform for purchasing, selling, and financing vehicles.
Carvana Co. (NYSE: CVNA) reported a strong financial performance for Q4 and full year 2021. Retail units sold increased by 57% YoY in Q4, with 113,016 units sold. Revenue surged by $3.753 billion, marking a 105% increase YoY. For the full year, retail units sold reached 425,237, up 74% YoY, with total revenue of $12.814 billion, a 129% rise YoY. Total gross profit per unit improved to $4,537, increasing $1,285 YoY, and Carvana reported its first full year of positive EBITDA (excluding one-time items).
Carvana (NYSE: CVNA) has signed a definitive agreement to acquire ADESA's U.S. physical auction business from KAR Global (NYSE: KAR) for $2.2 billion in cash. This acquisition is set to significantly enhance Carvana's infrastructure, enabling the company to expand its annual production capacity to over 3 million vehicles. Once fully operational, 78% of the U.S. population will be within 100 miles of a Carvana inspection and reconditioning center. ADESA U.S. contributed over $800 million in revenue and $100 million in EBITDA in 2021.
Carvana (NYSE: CVNA) has officially opened a new campus in Atlanta, Georgia, solidifying its status as the fastest organic growth used auto retailer in the U.S. The Atlanta location is one of the company's largest, employing over 1,500 team members. Carvana plans to create an additional 3,500 jobs in the area over the coming years. The launch comes as Carvana continues to innovate, enhancing its customer experience across 300 markets, with industry-leading ratings including a 4.7-star customer rating.
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Carvana (NYSE: CVNA) has made its national advertising debut during the Super Bowl, highlighting its commitment to customer satisfaction. With a light-hearted campaign featuring an 'oversharing mom', Carvana aims to emphasize its customer-centric approach and innovative car buying experience. Having sold over a million cars, it boasts an industry-leading Net Promoter Score (NPS) and a 4.7 out of 5 customer satisfaction rating. Carvana's mission is to redefine car ownership by providing transparency and convenience through fully online transactions.
Carvana Co. (NYSE: CVNA) will announce its fourth quarter and fiscal year 2021 financial results on February 24, 2022, after market close. A conference call is scheduled for 5:30 p.m. ET to discuss the results. Founded in 2012, Carvana revolutionizes car buying and selling through its online platform, offering over 55,000 vehicles and services such as financing and next-day delivery. It operates across 300+ U.S. markets.
Carvana (NYSE: CVNA) has launched its services in Cape Girardeau, Missouri, marking its seventh market in the state. The company offers as-soon-as-next-day touchless home delivery, enabling customers to shop from over 55,000 vehicles online. Key features include auto financing options, a 7-day return policy, and a simple trade-in process. Carvana aims to provide a hassle-free car buying experience without hidden fees. Now serving 312 U.S. cities, Carvana continues to innovate in the online auto retail space.