CVNA

Carvana Co. operates an e-commerce platform for buying and selling used vehicles online. The company provides a digital marketplace where consumers can research, finance, purchase, and trade-in vehicles entirely online with home delivery or pickup at vending machine locations. Carvana offers financing through its Bridgecrest subsidiary, warranties, and vehicle reconditioning services. The company operates vehicle inspection and reconditioning centers, logistics networks, and customer care centers supporting its end-to-end online car buying platform. Founded in 2012 by Ernie Garcia II and III and headquartered in Tempe, Arizona, Carvana pioneered online used car retail with a consumer-friendly digital experience. The company went public in 2017 and experienced dramatic growth followed by severe challenges including high debt, profitability struggles, and near-bankruptcy. Carvana faced existential financial distress in 2022-2023, restructuring debt at significant losses to equity holders. The company benefits from strong brand, differentiated online experience, and vertically integrated platform. Carvana continues to work toward sustainable profitability through cost reductions, operational improvements, and more disciplined growth while managing substantial debt burdens and competitive used car markets.