Carvana is a used automotive retailer that lets prospects discover, tour, purchase and finance automobiles fully on-line. The corporate then delivers the automobiles straight to a buyer’s house or permits them to choose up their buy from one in every of Carvana’s 33 fully-automated automotive merchandising machines.

It is a enterprise mannequin that helped propel the corporate to new heights throughout the coronavirus pandemic. Provide chain issues choked the manufacturing of latest automobiles, social distancing measures made Carvana’s online-only automotive shopping for expertise fascinating, authorities stimulus packages gave customers additional money to spend and rock-bottom rates of interest inspired them to just do that.

In the summertime of 2021, Carvana celebrated its first worthwhile quarter. On Aug. 10, of final yr, Carvana’s inventory reached its all-time intraday excessive of $376.83 a share. Commerce publication Automotive Information tracks corporations by quantity of automobiles bought yearly. The newest knowledge reveals that in 2021 Carvana bought over 425,000 automobiles, giving the corporate its quantity two spot after used automotive behemoth CarMax. However the sky-high demand that made Carvana a Wall Avenue star would additionally carry it down. 

Watch the video to find out how Carvana went from Wall Avenue darling to what some analysts are saying may very well be the sting of chapter, and to see what the longer term might maintain for the used automotive retailer.