Carvana CVNA · USD
Consumer Discretionary · Specialty Retail · US listing · 🇺🇸 United States
S&P 500
76.26
+3.66%
Close of 9 Nov 2026, in USD
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About Carvana
From its filings with the US Securities and Exchange Commission
Carvana is based in Tempe, Arizona and is incorporated in Delaware. Its shares trade on NYSE under the ticker CVNA. It is a member of the S&P 500. The SEC classifies its business as retail-auto dealers & gasoline stations. In the fiscal year to 31 December 2025, it reported revenue of $20.32bn and net income of $1.41bn. At that date it held total assets of $13.20bn and shareholders' equity of $3.44bn. By business, Retail vehicle sales, net brought in 71.5% of revenue, followed by Wholesale sales and revenues at 19.9% and Other sales and revenues at 8.5%.
Carvana is the leading e-commerce platform for buying and selling used cars. We are transforming the used car buying and selling experience by giving consumers what they want - a wide selection, great value and quality, transparent pricing, and a simple, no pressure transaction. Our differentiated business model combines a comprehensive online sales experience with a vertically integrated supply chain, designed to sell high-quality vehicles to our customers transparently and efficiently at a low price. The automotive retail industry is large – with approximately 37 million used auto retail transactions in the United States (“U.S.”) in 2024 according to Cox Automotive – and highly fragmented – with the top 10 used auto retailers in the U.S. accounting for less than 10% of the market share in 2024. These dynamics create an exceptional opportunity for disruption that our custom-built business model can capitalize on to remain well-positioned for long term growth. Over the years, we have leveraged our growing logistics network, which spans 316 metropolitan statistical areas, and our in-house distribution network, servicing over 80% of the U.S. population as of December 31, 2025, to sell 2.8 million retail vehicles, generating $84.1 billion in total revenue since inception in 2012 through December 31, 2025.
Quoted from its 10-K, filed 18 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Consumer Discretionary
- Industry
- Specialty Retail
- Listed since
- 28 Apr 2017
- Employees
- 23,100
- Website
- carvana.com ↗
- Head office
- 300 E. RIO SALADO PARKWAY, TEMPE, AZ, 85281
- Incorporated in
- DE
- Classification
- Retail-Auto Dealers & Gasoline Stations
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Ernest GarciaChairman of the Board, President, Chief Executive Officer, since 2017$10.6m
- Mr. Mark JenkinsChief Financial Officer$10.5m
- Mr. Tom TairaPresident - Special Projects$4.1m
- Mr. Benjamin HustonChief Operating Officer$10.5m
- Mr. Paul BreauxVice President, General Counsel, Secretary, and Chief Compliance Officer$6.7m
- Mr. Daniel GillChief Product Officer$9.4m
- Mr. Ryan KeetonChief Brand Officer$1.7m
- Mr. Michael MarooneLead Independent Director$396,301
- Ms. Neha ParikhIndependent Director$384,280
- Mr. Ira PlattIndependent Director$396,301
- Mr. Dan QuayleIndependent Director$366,291
- Mr. Gregory SullivanIndependent Director$396,301
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 24
- Environment
- 25
- Social
- 37
- Governance
- 11
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Carvana Co has several notable strengths that contribute to its success in the automotive industry. Firstly, Carvana has developed a strong online platform, providing customers with a convenient and seamless car buying experience. This innovative approach sets it apart from traditional dealerships and appeals to technologically-savvy consumers. Additionally, Carvana offers a wide selection of vehicles, including both new and used cars, catering to various customer preferences. Moreover, the company has invested in robust logistics and delivery infrastructure, ensuring efficient and timely deliveries across its operational areas.
- Carvana's user-friendly website and mobile app make it easy for customers to browse through its inventory, get detailed information about each vehicle, and complete the entire purchase process online. The platform also enables customers to schedule test drives and even apply for financing, further enhancing their convenience.
- Carvana maintains a vast inventory of vehicles, offering a broad range of makes, models, and price points. This extensive selection provides customers with numerous options to choose from, increasing the likelihood of finding their desired car within their budget.
- Carvana's investment in logistics and delivery infrastructure has allowed it to streamline its operations and deliver vehicles to customers in a timely manner. By leveraging its network of fulfillment centers and transportation resources, Carvana can efficiently transport cars from its inventory to customers' locations. This efficient delivery process contributes to a positive customer experience and sets Carvana apart from competitors.
Weaknesses
- Despite its strengths, Carvana Co also faces certain weaknesses that may impact its performance and market positioning. One prominent weakness is the absence of a physical dealership network. While Carvana's online model provides convenience, some customers may still prefer the traditional dealership experience, where they can physically interact with vehicles and receive in-person assistance. Additionally, certain customers may have concerns about the lack of a local service center or the ability to test drive vehicles before making a purchase. Addressing these challenges is crucial for Carvana to appeal to a broader customer base and overcome any skepticism related to its online-only approach.
- Carvana's online-only model means that it does not have physical dealership locations where customers can visit, interact with vehicles, or receive face-to-face assistance from sales representatives. While the company compensates for this with its user-friendly online platform, the absence of a physical presence may deter potential buyers seeking a more traditional car buying experience.
- Some customers may have reservations about not having a local Carvana service center for maintenance and repairs, as they would typically expect with a traditional dealership. Additionally, the inability to test drive vehicles beforehand may be a deterrent for certain buyers who prefer to experience the vehicle's performance and comfort firsthand. Carvana needs to address these concerns by developing partnerships with local service centers or exploring alternative solutions that enable customers to access maintenance and test driving options more conveniently.
Opportunities
- Carvana Co has several promising opportunities in the automotive market, which can help it further expand its customer base and strengthen its competitive position. The widespread adoption of e-commerce and online purchasing presents a significant opportunity, as more consumers become comfortable with and prefer making high-value purchases online. Carvana can capitalize on this trend by continuing to enhance its online platform, improve customer experience, and increase brand awareness. Furthermore, expanding into new geographic regions and market segments represents an opportunity for Carvana to reach untapped markets and further diversify its customer base.
- The shift towards online purchasing and e-commerce is an opportunity for Carvana to attract a larger customer base. By continuously improving its online platform, ensuring secure transactions, and offering personalized services, Carvana can position itself as a trusted and convenient online car buying destination for consumers across various age groups and demographics.
- Carvana can seize opportunities by expanding its operations into new geographic regions where it hasn't established a significant presence yet. By tailoring its offerings to cater to local preferences and market dynamics, Carvana can tap into new markets and leverage its successful business model to gain a competitive advantage over traditional dealerships in these areas.
Threats
- Carvana Co faces various threats that could hinder its growth and market position in the automotive industry. Traditional car dealerships, with their established reputation and vast physical presence, remain a strong competitive force. Some customers may still prefer the personalized assistance and in-person experience that traditional dealerships offer. Additionally, new entrants and established online car marketplaces pose a threat by intensifying competition and potentially diverting customers' attention away from Carvana. Furthermore, economic downturns or disruptions in the automotive industry may negatively impact consumer confidence and purchasing power, affecting Carvana's sales.
- Traditional dealerships have an advantage over Carvana due to their physical presence and established brand reputation. Customers who prioritize in-person interaction and personalized assistance during the car buying process may choose traditional dealerships over Carvana's online model, posing a threat to Carvana's market share.
- Established online car marketplaces, as well as potential new entrants, pose a threat by increasing competition for Carvana. These platforms aim to capture consumer attention and divert potential customers from Carvana's online platform. Carvana must continuously differentiate itself through superior customer experience, competitive pricing, and strong marketing strategies to mitigate this threat.
- Carvana's success heavily relies on consumer confidence and purchasing power. Economic downturns or industry disruptions, such as unexpected changes in fuel prices, interest rates, or regulatory policies, can impact consumer behavior and reduce car purchasing intentions. Carvana needs to carefully monitor market conditions, diversify its offerings, and adapt its business strategies to mitigate the potential negative effects of such threats.
Sources and methodology
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- Chart on the Overview
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