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What Happened To Carvana?
2 years ago
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What Happened To Carvana?
Throughout the coronavirus pandemic, several factors propelled Carvana’s business forward. At its peak in August 2021, the online used car retailer reached a market capitalization of around $60 billion. By the end of the year, it was ranked just behind behemoth CarMax as having sold the largest number of used vehicles that year. Carvana even became one of the youngest companies to make the Fortune 500 list. But since then, Carvana has struggled. The company’s future now seems in question, as it faces ever increasing competition and an uncertain economic outlook plagues consumers. Chapters: 00:00-01:13 Introduction 01:13-03:05 Disrupting dealers 03:05-05:24 The rise 05:24-09:04 The fall 09:04-12:05 The future Produced by: Magdalena Petrova Supervising Producer: Jeniece Pettitt Editorial Support: Michael Wayland Graphics: Jason Reginato » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC What Happened To Carvana?
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