Carvana Expects New Car Production to Boost Used Car Sales
PYMNTS.com - 2024-05-14T22:25:02.000Z

Carvana reportedly expects that as more new vehicles are built, the company’s used car business will benefit. “There will likely be much more car production, and that will probably bode well,” Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event near Detroit, Bloomberg reported Tuesday. Online car shopping guide Edmunds said in April that new […]

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Carvana stock hit its highest level in years on Thursday after the used car retailer reported record results and made a profit last quarter. The Tempe, Arizona-based company’s stock lurched up more than 37% in pre-market trading to $120 per share. The last time Carvana shares were worth that much was April 2022, before they continued a steady decline. In December of that year, Carvana stock dropped as low as $4 per share as fears of bankruptcy loomed over investors. But Carvana on Wednesday...
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