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Used Cars

Carvana CEO sees no ceiling on buying from customers

Carvana's gross profit per vehicle rose 46 percent to hit $3,175 in the second quarter, passing a goal of $3,000 set two years ago.
Online retailer Carvana has physical assets, CEO Ernie Garcia says, including a logistics network and its vending machines. (BLOOMBERG)
DM
By:
David Muller
September 15, 2019 04:00 AM

As Carvana grows rapidly in size and scope, the number of vehicles the online used-car retailer buys from consumers has skyrocketed — and CEO Ernie Garcia expects that growth to continue.

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