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Carvana selling 2022 Mavericks at sky high prices

Vols44

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Something is going on with Carvana (CVNA), take a look at the stock over the past few days, up 40%:

https://finance.yahoo.com/quote/CVNA?p=CVNA

Not a sign of a failing company.

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I read where sales in the last year are up9% and the gross profit per vehicle is up $853 from last quarter while it reduced it's workforce by 12% in May.

To a layman, the company is losing less money. To an investor, time to short sell since a 40% jump isn't sustainable.
 

MLowe05

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Carvana is not going to fail. They may have to change some things, they will have ups/downs, but they are the way of the future.
 

gte105u

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Carvana is not going to fail. They may have to change some things, they will have ups/downs, but they are the way of the future.
The idea may be the way of the future, doesn't mean the company will be. Look at MySpace and AOL. You can pioneer but not be part of it. Carvana has made some bad decisions and are fighting to recover. They may or may not make it. They have some anchor vehicles that they will need to offload at losses. High inflation combined with high interest means an economic slowdown is likely coming. When it does it could get ugly.
 

belmor

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I bought my truck from Vroom. Loaded XLT 2.0 EB AWD FX4 4K LUX w/sunroof for $35,900. It stickered for $33,xxx. Had a scuff on the door I buffed out when it got here they gave me $500.00 back for so $35,500.

Meanwhile the truck I ordered in December will not be built this year. I own a side business that requires a truck and pays for the truck. I wasn't worried about that small of a markup.

Easy process, love the truck. It has almost 7k miles on it now.
 

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WesM

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Couple of months ago I spent an afternoon used truck shopping. Just looking. What I found besides the aforementioned Taco was a 2013 Nissan Frontier with 65K for 22K, a 2017 Honda Ridgeline wth 52K for 32K. The best deal if you want to call it that was an off lease 2019 Ranger 4x4 Lariat with Tech Package with 34K on the clock for 35K.

Good that you could put that money down as having to pay interest on top of that markup is a double edged sword. Cheers.
Thats exactly why I jumped on the Maverick last august. Could not get anything even close to the price point I got for the Maverick on a brand new light duty truck. Everything was 50k miles for $28-35k.
 

MakinDoForNow

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Not sure how the Carvana model is working these days but also not sure how the used car market is working either. It a crazy world when you sell any vehicle new or used for more than you paid for it. There are always exceptions but off the shelf pickups are not normally one if them. I sold a 20 Ranger to a VW dealer for a $3500 profit a year ago so there is something wrong with the market that will eventually get a correction but I don't know when. I always remember what a friend told me about selling cars in a crazy market: You aways want to be the last owner not the next one.
There are other things involved but consider the effect of increasing the minimum wage. Just like when it was done in the late 50's = 0.75/hr to 1.15/hr wages trickled up. Within a year where I worked plumbers who were making about 3.25-3.5 times the 0.75 were demanding that they deserved the same multiple. They did not quite get that but got most of it within 2 years. Within 3-4 years the price of a new house increased from $9.00/ sq foot to $14.00/sq foot. The 1956 Plymouth I bought used for $345 became a $900 trade in on my brand new 1961 "slant 6" Plymouth. So something can be said about adjusting all prices relative to minimum wage increases and adjusted further by market demand. The $76,500 I paid for my 28 acres to put my $180,000 house on is apparently worth at least $1.2 mil. New construction is currently about $325/sq foot and the land is worth at least $600,000. Neighbor 1/2 mile away is asking $450,000 for 17 acres with no improvements. When will it all end?
 

Maverickblues

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I read where sales in the last year are up9% and the gross profit per vehicle is up $853 from last quarter while it reduced it's workforce by 12% in May.

To a layman, the company is losing less money. To an investor, time to short sell since a 40% jump isn't sustainable.
I read where sales in the last year are up9% and the gross profit per vehicle is up $853 from last quarter while it reduced it's workforce by 12% in May.

To a layman, the company is losing less money. To an investor, time to short sell since a 40% jump isn't sustainable.
I would proceed with caution. I'm sure the short sellers decided it was time to cover. I gotta believe that was a huge amount of the gain yesterday. So, with 3 times the normal volume, they took their profits as well as those who came to the short party late, only to get burned. That was not a dead cat bounce. Sounds like Carvana is showing signs of life.
 

cavemold

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I mean let’s look at the quarterly revenue is up …

Ford Maverick Carvana selling 2022 Mavericks at sky high prices CA5C6896-CC9D-4426-A424-066CA1A7E8D8
 

uga

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Chris_G

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LSchicago

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Carvanna Paid $2,000 more than we paid new for my wife's 2 year Old Hyundai Palisade with a scratched bumper cover. We were glad to sell it.
 

NanJean

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Reputable dealers are not adding any mark ups on special orders, I paid $23,649 for my Hybrid XL, no dealer markup, just a $499 DOC fee.
But hey, it's your money...
You are lucky! Hopefully most dealers will stop with the greed. My Hybrid XL base model was marked up 4k. I was a fool but at least I got 0% finance and I could not wait another year. I wish Ford would make these greedy dealers give back all that markup. I know I live in a fairy tale world. I have still only seen one other Maverick in my area (Temecula, CA) since February.
 

Bmr4mav

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I kinda feel bad for them.

They paid me $35.5k for this just over a month ago.
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