Carvana Expects Surge In Used Car Demand On New Vehicle Oversupply

5/15/24 10:57:58 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

Major Banks

Finance

Get the next $CVNA alert in real time by email

Online used car retailer Carvana Co (NYSE:CVNA) anticipates a surge in used car sales amid a potential oversupply of new vehicles, according to Chief Executive Officer Ernest Garcia III.

Speaking at an event hosted by the Automotive Press Association near Detroit, Garcia stated that increased car production by major automakers is likely to benefit the online used-car retailer, reported Bloomberg.

Garcia highlighted automakers’ efforts to mitigate swelling inventories by offering incentives and directing more new cars to fleet purchasers like rental companies.

According to Deutsche Bank AG (NYSE:DB), average new car inventories in the U.S. reached 50 days’ worth of supply by the end of April, marking a two-day increase from March and a 17-day surge from the previous year.

Carvana experienced a resurgence in its financial performance, driven by robust sales and debt restructuring.

Contrary to analysts’ projections of a $116 million loss, Carvana reported a net income of $49 million earlier this month, including a one-time gain.

In the first quarter of 2024, Carvana witnessed a growth in vehicle sales for the first time in six quarters, propelling its revenue to $3.1 billion.

Despite this progress, the company grapples with a substantial debt exceeding $6 billion, alongside escalating interest payments on its restructured loans.

Garcia reaffirmed Carvana’s second-quarter guidance for sequential growth in earnings before interest, taxes, depreciation, and amortization (EBITDA).

He also expressed optimism about the company’s trajectory towards sustainable net profits, inclusive of interest payments.

CVNA stock has gained over 944% in the past year. Investors can gain exposure to the stock via Global X E-Commerce ETF (NASDAQ:EBIZ) and Amplify ETF Trust Amplify Online Retail ETF (NYSE:IBUY).

Price Action: CVNA shares are trading lower by 1.33% at $119.35 at the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock

Get the next $CVNA alert in real time by email

Crush Q1 2026 with the Best AI Superconnector

Stay ahead of the competition with Standout.work - your AI-powered talent-to-startup matching platform.

AI-Powered Inbox

Context-aware email replies

Strategic Decision Support

Get Started with Standout.work

Recent Analyst Ratings for
$CVNA
$DB
$EBIZ
$IBUY

Company	Date	Price Target	Rating	Analyst
Carvana Co. $CVNA	12/15/2025	$500.00	Buy	Argus
Carvana Co. $CVNA	12/1/2025	$450.00	Buy	UBS
Carvana Co. $CVNA	11/24/2025	$400.00	Neutral → Outperform	Wedbush
Carvana Co. $CVNA	11/21/2025	$395.00	Buy	Deutsche Bank
Carvana Co. $CVNA	11/12/2025	$390.00	Overweight	Barclays
Carvana Co. $CVNA	10/21/2025	$425.00 → $490.00	Overweight	Analyst
Carvana Co. $CVNA	10/1/2025	$475.00	Hold → Buy	Jefferies
Deutsche Bank AG $DB	8/27/2025		Buy → Neutral	Goldman

More analyst ratings

$CVNA
$DB
$EBIZ
$IBUY
Press Releases

Fastest customizable press release news feed in the world

Carvana to Report First Quarter 2026 Results and Host Quarterly Conference Call on April 29

Carvana (NYSE:CVNA), the industry pioneer for buying and selling cars online, today announced it will report its first quarter 2026 financial results for the period ended March 31, 2026, after the market closes on Wednesday, April 29, 2026. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company's business and results. What: Carvana First Quarter 2026 Financial Results Conference Call When: Wednesday, April 29, 2026 Time: 5:30 p.m. ET (2:30 p.m. PT) Live Call: (833) 255-2830 or (412) 902-6715 An archived webcast of the conference call will be accessible

4/1/26 9:00:00 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

Carvana Board of Directors Approves 5 for 1 Forward Stock Split

Carvana (NYSE:CVNA), the industry pioneer for buying and selling cars online, today announced that its Board of Directors approved a 5 for 1 split of its common stock. The split is designed to ensure that earning and buying whole shares of Carvana stock is within reach for all of its team members. "This is the first split in Carvana's history, and we believe it achieves the important goal of keeping our stock accessible to all of our team members," said Mark Jenkins, Chief Financial Officer of Carvana. "This decision follows significant stock appreciation as Carvana reached new all-time records for units and profitability while continuing to lead the industry in growth in 2025." Carvana

3/13/26 9:05:00 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

Carvana Expands Same-Day Delivery to Los Angeles

Local car buyers and sellers now have access to faster, more convenient service Carvana (NYSE:CVNA), an industry pioneer for buying and selling cars online, today announced the expansion of same-day vehicle delivery for customers in the greater Los Angeles area. Select local customers can now receive their vehicle as soon as the same day they place an order on Carvana.com. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260311300577/en/Carvana Expands Same-Day Delivery to Los Angeles. With this launch, Los Angeles-area customers interested in selling their vehicles to Carvana can also take advantage of same-day pickup and drop-

3/11/26 9:00:00 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

$CVNA
$DB
$EBIZ
$IBUY
Financials

Live finance-specific insights

Carvana to Report First Quarter 2026 Results and Host Quarterly Conference Call on April 29

Carvana (NYSE:CVNA), the industry pioneer for buying and selling cars online, today announced it will report its first quarter 2026 financial results for the period ended March 31, 2026, after the market closes on Wednesday, April 29, 2026. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company's business and results. What: Carvana First Quarter 2026 Financial Results Conference Call When: Wednesday, April 29, 2026 Time: 5:30 p.m. ET (2:30 p.m. PT) Live Call: (833) 255-2830 or (412) 902-6715 An archived webcast of the conference call will be accessible

4/1/26 9:00:00 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

Carvana Announces Record Fourth Quarter and Full Year 2025 Results

Record Full Year Retail Units Sold of 596,641, up 43% YoY Record Full Year Revenue of $20.3 billion, up 49% YoY Record Full Year Net Income of $1.9 billion1, up more than $1 billion YoY Record Full Year Adjusted EBITDA of $2.2 billion, up more than $850 million YoY Expects Significant Growth in Retail Units Sold and Adjusted EBITDA2 in FY 2026 and Sequential Increase in Retail Units Sold and Adjusted EBITDA2 in Q1 Carvana (NYSE:CVNA), a leading e-commerce platform for buying and selling cars, today announced financial results for the full year and quarter ended December 31, 2025. Carvana's complete fourth quarter and fiscal year 2025 financial results and management commentary are

2/18/26 4:05:00 PM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

Carvana to Report Fourth Quarter and Fiscal Year 2025 Results and Host Quarterly Conference Call on February 18

Carvana (NYSE:CVNA), an industry pioneer for buying and selling cars online, today announced it will report its fourth quarter and fiscal year 2025 financial results for the period ended December 31, 2025, after the market closes on Wednesday, February 18, 2026. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company's business and results. What: Carvana Fourth Quarter 2025 Financial Results Conference Call When: Wednesday, February 18, 2026 Time: 5:30 p.m. ET (2:30 p.m. PT) Live Call: (833) 255-2830 or (412) 902-6715 An archived webcast of the conferen

1/21/26 8:00:00 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary

$CVNA
$DB
$EBIZ
$IBUY
Leadership Updates

Live Leadership Updates

CRH, Carvana and Comfort Systems USA Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

NEW YORK, Dec. 5, 2025 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, December 22, to coincide with the quarterly rebalance. The changes ensure that each index is more representative of its market capitalization range. The companies being removed from the S&P SmallCap 600 are no longer representative of the small-cap market space. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector Dec 22, 2025 S&P 500 Addition CRH CRH Mat

12/5/25 5:49:00 PM ET

Major Chemicals

Industrials

Professional Services

Consumer Discretionary

Webull Appoints Walter Bishop to Board of Directors

Mr. Bishop to serve as Independent Director and member of the Audit, Compensation and Nominating and Corporate Governance Committees ST. PETERSBURG, Fla., June 9, 2025 /PRNewswire/ -- Webull Corporation (NASDAQ:BULL) ("Webull" or the "Company"), the owner of the Webull online investment platform, today announced the appointment of Walter Bishop as independent director to its Board of Directors, effective June 8, 2025. Mr. Bishop will serve as a member of the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee. Mr. Bishop brings extensive

6/9/25 8:45:00 AM ET

Investment Bankers/Brokers/Service

Finance

Major Banks

Semiconductors

Carvana Joins eSTART Coalition as Founding Member

eSTART aims to Modernize Automotive Title and Registration Carvana (NYSE:CVNA), an industry pioneer for buying and selling used cars online, is proud to announce its participation in the Electronic Secure Title and Registration Transformation (eSTART) Coalition as a founding member. The eSTART Coalition is a group of automotive industry stakeholders advocating for the application of modern digital solutions to state and local DMV operations. "Carvana has changed the way people buy and sell cars in large part by using technology to drive better customer experiences, and we are excited to advocate for a similar evolution in vehicle title and registration as a founding member of the eSTART

3/14/24 9:00:00 AM ET

Retail-Auto Dealers and Gas Stations

Consumer Discretionary