Carvana Co (NYSE: CVNA) — Company Overview, News & Financial Data
Carvana Co is an e-commerce platform for buying and selling used cars, simplifying the automotive retail process.
Carvana Co
Carvana Co is a direct-to-consumer e-commerce platform for buying and selling used cars in the United States. The company operates an online marketplace that allows consumers to browse, purchase, trade in, and finance pre-owned vehicles. Through its web and mobile interfaces, customers can inspect high-definition 360-degree virtual vehicle interiors and exteriors, obtain real-time vehicle financing quotes, and select trade-in evaluations. Purchased vehicles are delivered directly to customer locations or made available for pickup at automated multi-story glass vehicle display towers known as car vending machines. Carvana also provides post-sale services including vehicle service contracts and automotive insurance.
Snapshot
Operations
Products and/or services of Carvana Co
- Retail Vehicle Sales: Direct-to-consumer online sales of pre-owned automobiles, featuring virtual 360-degree vehicle inspection, digital checkout, direct doorstep delivery, and customer pickup at multi-story glass vehicle display towers across major United States metropolitan markets.
- Consumer Vehicle Purchasing: Direct procurement of used vehicles from consumers via instant online valuation algorithms, enabling sellers to trade in existing cars or complete outright vehicle sales with doorstep pickup and automated electronic fund transfers.
- Automotive Financing Operations: Direct origination and underwriting of auto loans for retail vehicle buyers through integrated digital loan management platforms, with revenue generated via financing interest income and loan portfolio sales to financial institutions.
- Protection Products and Warranties: Distribution of secondary vehicle service contracts, extended service plans, and guaranteed asset protection coverage, providing vehicle maintenance protection and generating administrative fee and commission revenues through third-party coverage partners.
- Automotive Insurance Services: Integrated digital distribution of auto insurance policies in partnership with third-party insurance carrier Root, enabling retail car purchasers to select and bind coverage directly within the online vehicle purchase checkout workflow.
- Wholesale Auction Operations: Disposition of acquired used vehicles that do not meet retail quality standards or inventory criteria through digital and physical wholesale auction channels, supplying pre-owned vehicle inventory to commercial automobile dealers.
Carvana Co executive team
- Mr. Ernest C. Garcia IIICo-Founder, President, CEO & Chairman
- Mr. Benjamin Huston J.D.Co-Founder & COO
- Mr. Mark Jenkins Ph.D.Chief Financial Officer
- Mr. Paul Breaux J.D.VP, General Counsel, Secretary & Chief Compliance Officer
- Mr. Daniel GillChief Product Officer
- Mr. Ryan S. KeetonCo-Founder & Chief Brand Officer
- Mr. Stephen R. PalmerVice President of Accounting & Finance
- Mr. Michael McKeeverHead of Capital Markets, Investor Relations and Treasury
- Mr. Thomas TairaPresident of Special Projects
- Ms. Christina KeiserExecutive Vice President of Strategy