Carvana Revenue Up 200 Pct; Used Cars Remain Hot
Online car dealership Carvana’s revenue went up almost 200 percent in the second quarter of 2021 from the same time a year ago, and the firm sold more than 100,000 vehicles for the first time, a 96 percent increase from a year earlier.
The results have company officials confident that they are “firmly on the path to changing the way people buy cars, to delivering more than two million cars per year and to becoming the largest and most profitable automotive retailer.”
“Our growth in retail units combined with our even faster growth in cars bought from customers materially outpaced any sequential growth we’ve previously seen as a company,” Carvana said in the company announcement.
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The financial results, which rocketed past analysts’ estimates, come as a global microchip shortage continues to hamper new