Carvana
Carvana is a public e-commerce platform (NYSE: CVNA) that buys, finances, and sells used vehicles online with home delivery and vending machine pickup, complemented by its ADESA wholesale auction subsidiary and a growing footprint of Stellantis franchised dealerships for new car sales.
- Company typePublic
- Founded2012
- HeadquartersTempe, United States
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Carvana does
Carvana is a publicly traded e-commerce platform (NYSE: CVNA) founded in 2012 and headquartered in Tempe, Arizona, that buys, reconditions, finances, and sells used vehicles directly to individual consumers through carvana.com, supported by home delivery logistics, car vending machines, and a growing network of test drive centers. The company operates a vertically integrated stack that includes in-house financing with Plaid-integrated pre-qualification, embedded insurance through a partnership with Root Insurance, an online sell/trade-in service, and the proprietary CARLI software platform that powers its inspection and reconditioning centers. Through its wholly owned ADESA subsidiary, Carvana runs a national wholesale auto auction business with digital products (ADESA Clear, ADESA Timed, ADESA Simulcast) and physical sites that are being progressively converted to integrated retail-wholesale hubs. Since 2025 Carvana has expanded into new vehicle sales via seven Stellantis franchised Chrysler-Dodge-Jeep-Ram dealerships repurposed as test drive and service hubs, while holding a warrant stake in EV startup Slate Auto and a partnership with Ally Financial for up to $6 billion in auto lending capacity.
The business model is primarily a one-time unit sale of used vehicles, supplemented by transaction-fee revenue from ADESA wholesale auctions, financing and loan income, and growing service and parts revenue from acquired dealerships. In FY2025 Carvana generated approximately $20.3 billion in revenue on more than 600,000 retail units, with Q1 2026 revenue of $6.43 billion up 52% year-over-year on 187,393 retail units, record net income of $405 million, and a 10.4% adjusted EBITDA margin. The company employs over 10,000 people across 34 reconditioning centers and 16 ADESA production sites, is targeting 3 million annual retail units at 13.5% adjusted EBITDA margin by 2030-2035, and has executed a 5-for-1 stock split in May 2026 following a recovery from near-bankruptcy in late 2022.
Carvana firmographics
Firmographics- Name
- Carvana
- Legal name
- Carvana, LLC
- Website
- https://carvana.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Carvana is a public e-commerce platform (NYSE: CVNA) that buys, finances, and sells used vehicles online with home delivery and vending machine pickup, complemented by its ADESA wholesale auction subsidiary and a growing footprint of Stellantis franchised dealerships for new car sales.
- Ownership category
- akta.pro rank
Carvana industry classification
Industry- Product category
- Online Used Car Retail
- NAICS
- Used Car Dealers (44112), Used Car Dealers (441120), New Car Dealers (441110), New Car Dealers (44111), Other Motor Vehicle Dealers (4412), Motor Vehicle and Parts Dealers (441)
- SIC
- Retail-Auto Dealers & Gasoline Stations (5500)
- akta.pro primary industry
- Automotive Vehicles & Parts C2C (CRAFAKAE)
- akta.pro secondary industries
- New & Used Auto Purchase Loans (FSAKADAA), Auto & Vehicle Loan Brokerage (FSAEAEAK)
Keywords
Where Carvana is headquartered
LocationHeadquarters
- HQ city
- Tempe
- HQ country
- United States
- HQ region
- North America
Offices10 records
Markets served
Carvana business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Used Vehicle Sales: Carvana generates primary revenue through the sale of used vehicles directly to consumers via its online platform. The company acquires, inspects, reconditions, and sells vehicles with pricing transparency and no-haggle transactions. Revenue from vehicle sales represents the largest portion of total revenue, with Q1 2026 retail units reaching 187,393 vehicles.
- Financing and Loan Services: Carvana provides auto financing to customers through its platform, earning interest income and fees from loan originations. The company also partners with Ally Financial (expanded to $6 billion partnership) and has introduced Carvana Insurance powered by Root for embedded insurance offerings at checkout.
- Wholesale Auction Services (ADESA): Through its ADESA subsidiary, Carvana operates wholesale auto auctions providing digital auction services to financial institutions, fleets, rental companies, and dealer groups. ADESA offers Clear, Timed, and Simulcast auction products.
- Parts and Service: Revenue from vehicle service, maintenance, and parts operations generated through dealership acquisitions and inspection/reconditioning facilities. This segment is accessed through trade-ins at new-car dealerships and service hubs.
- Trade-in and Sell Services: Carvana purchases vehicles from consumers through its sell/trade platform, generating revenue through vehicle acquisitions that are then reconditioned and resold through the retail platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Used vehicle sales with transparent pricing |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
Carvana product offering
Product offeringCore offering
Carvana operates a digital-first e-commerce platform for buying, selling, and financing used vehicles, offering transparent no-haggle pricing, 150-point vehicle inspections, home delivery, and a 7-day return policy. The company acquires, inspects, reconditions, and sells used cars directly to consumers, with over 65,000 vehicles listed and approximately 600,000+ retail units sold in fiscal year 2025. Through its ADESA subsidiary, Carvana also operates wholesale auto auctions, and has begun selling new vehicles via seven acquired Stellantis franchise dealerships used as test drive centers.
Product overview
Carvana operates a unified e-commerce platform for buying and selling used vehicles online, complemented by proprietary technology infrastructure and strategic acquisitions. The core offering consists of the Carvana Online Used Car Marketplace where customers browse over 65,000 vehicles, complete purchases, and receive home delivery. Supporting services include Carvana Financing (pre-qualification, in-house lending with Plaid integration), the Sell/Trade-In Service (online vehicle appraisal and purchase), and Carvana Insurance powered by Root (embedded coverage at checkout). Underlying the retail operations is CARLI, Carvana's proprietary software platform powering inspection and reconditioning centers. Through its ADESA subsidiary, Carvana operates a wholesale auto auction business with physical locations and a digital platform comprising ADESA Clear, ADESA Timed, and ADESA Simulcast products. Recent expansions include entering new vehicle sales through Stellantis franchise dealerships repurposed as test-drive centers, and a community initiative called Driving Brighter Futures supporting automotive education programs.
Differentiator
Problem solved
Functional benefit
Products and services
- Carvana Online Used Car Marketplace Carvana's primary e-commerce platform enabling customers to browse, purchase, finance, and have used vehicles delivered to their doorstep. The platform offers 100% online car buying with no-haggle pricing, home delivery, and a 7-day return policy. Lists over 65,000 vehicles.
- Carvana Financing In-house auto financing service offering pre-qualification without credit impact, real personalized payment terms, and support for all credit types. Integrated with Plaid for secure bank account verification. Over 1 million customers have used Carvana financing.
- Sell/Trade-In Service Online vehicle appraisal and purchase service allowing customers to sell or trade their vehicle to Carvana. Offers real cash offers valid for 7 days, free vehicle pickup at Carvana hubs, and same-day payment options.
- Carvana Insurance powered by Root Embedded auto insurance product integrated directly into Carvana's online checkout experience in partnership with Root Insurance, allowing customers to obtain custom vehicle coverage in three clicks during the car purchase process.
- ADESA Wholesale Auto Auction Carvana's wholly-owned subsidiary providing physical and digital wholesale auction services. Operates a national network of wholesale auction facilities and a digital platform (ADESA Clear, ADESA Timed, ADESA Simulcast) for wholesale vehicle sellers and buyers including financial institutions, fleets, rental companies, and dealer groups.
- ADESA Clear Digital auction platform product within ADESA's digital wholesale offering that allows wholesale sellers to list and manage vehicle inventory for sale to dealer buyers.
- ADESA Timed Self-service timed digital auction offering extending ADESA's digital wholesale platform, enabling consignors including financial institutions, fleets, rental companies, and dealer groups to list inventory directly through a self-service experience.
- ADESA Simulcast Live digital auction product within ADESA's digital wholesale platform enabling real-time online bidding alongside physical auction events for wholesale vehicle buyers.
Quantifiable outcome
- Q1 2026 retail units of 187,393, up 40% year-over-year
- +4 more outcomes
Companies that use Carvana
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles2 records
Carvana technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability5 records
Feature3 records
Carvana partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor and core.
- Jimmie Johnson FoundationminorCarvana and the Jimmie Johnson Foundation launched 'Driving Brighter Futures,' a grant program supporting automotive and engineering career and technical education at K-12 public schools nationwide. Nominations open through August 28, 2026.
- RepairPalminorSlate Auto, the EV startup backed by Jeff Bezos, partnered with RepairPal to expand its service network ahead of sales launch. Carvana holds a warrant stake in Slate Auto.
- Slate AutominorCarvana was granted a warrant to purchase shares in Slate Auto, the Jeff Bezos-backed EV startup. Slate Auto plans to sell its electric pickup truck through Carvana's platform ahead of planned launch later in 2026.
- Root InsuranceminorRoot Insurance, an auto insurer, expanded its distribution partnership with Carvana, embedding insurance products into Carvana's online checkout experience. Root's ExtraCash product and new writings through partners including Carvana increased nearly 30% year-over-year.
- Root InsurancecoreCarvana partnered with Root Insurance to embed auto insurance coverage directly into the online car-buying checkout experience. The partnership created Carvana Insurance powered by Root, designed to provide quick, custom coverage in 3 clicks while handling the rest for customers.
- StellantiscoreStellantis granted Carvana franchise dealer status to sell new Chrysler, Dodge, Jeep, and Ram vehicles. Carvana acquired seven Stellantis dealerships since early 2025, with Casa Grande, AZ becoming Stellantis's top-selling U.S. location. This partnership marks the first time Stellantis has allowed a non-traditional franchise dealer to sell new vehicles.
Scale indicators17 records
Recent moves9 records
Expansion highlights6 records
Carvana competitors and assessment
Company assessmentDirect peers
- CarMax: The largest used car retailer in the US with both physical stores and online sales, directly competing with Carvana in the online used car segment with similar transparent pricing and financing offerings.
- Vroom: Online-first used car retailer competing directly with Carvana in the digital used car marketplace, with home delivery, no-haggle pricing, and financing services.
- Copart: Operates the largest online vehicle auction marketplace in North America, directly comparable to Carvana's ADESA subsidiary in wholesale auto auction services and digital platform infrastructure.
- Manheim: Cox Enterprises-owned wholesale auto auction business with extensive physical and digital infrastructure, the historical leader in the wholesale auto auction space that ADESA directly competes with.
Broad incumbents
- AutoNation: Largest US automotive retailer with used car operations (AutoNation USA), new car franchises, and financing — overlapping with Carvana's broader digital strategy and Stellantis franchise acquisitions.
- Lithia Motors: Large US dealer group with significant used car and digital retail operations through Driveway, competing across both online and physical channels similar to Carvana's hybrid model.
- Sonic Automotive: US automotive retailer with both new and used car operations including EchoPark used car stores, competing with Carvana in online used vehicle retail.
- Group 1 Automotive: Major US and UK automotive retailer with new and used car sales, plus financing operations that overlap with Carvana's full-service retail and finance approach.
Emerging players
- CarGurus: Online automotive marketplace connecting buyers and sellers with dealer inventory listings, an indirect competitor and adjacency to Carvana's marketplace model in the car listing and discovery phase.
- TrueCar: Online car pricing and marketplace platform focused on new and used vehicle price transparency, complementary to Carvana's no-haggle pricing model and digital car buying experience.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Carvana social profiles
Digital presenceCarvana financial estimates
Financial estimateRevenue estimate
Valuation estimate
Carvana leadership team
Management profileNumber of profiles
Profiles6 records
Carvana subsidiaries and ownership
Company hierarchySubsidiaries2 records
Carvana funding detail
Funding detailFunding overview
Funding rounds10 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Carvana M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Carvana
What does Carvana do?
Carvana operates a digital-first e-commerce platform for buying, selling, and financing used vehicles, offering transparent no-haggle pricing, 150-point vehicle inspections, home delivery, and a 7-day return policy. The company acquires, inspects, reconditions, and sells used cars directly to consumers, with over 65,000 vehicles listed and approximately 600,000+ retail units sold in fiscal year 2025. Through its ADESA subsidiary, Carvana also operates wholesale auto auctions, and has begun selling new vehicles via seven acquired Stellantis franchise dealerships used as test drive centers.
Is Carvana a public or private company?
Carvana is a public company. It is classified as public and is currently operating.
When was Carvana founded?
Carvana was founded in 2012. It employs 5,001 to 10,000 people.
Where is Carvana based?
Carvana is headquartered in Tempe, United States, in the North America region.
How does Carvana make money?
Five revenue lines are on record. Used Vehicle Sales are the primary driver. The others are financing and Loan Services, wholesale Auction Services (ADESA), parts and Service and trade-in and Sell Services.
Who are Carvana's main competitors?
Direct peers on record are CarMax, Vroom, Copart and Manheim. Broad incumbents are AutoNation, Lithia Motors, Sonic Automotive and Group 1 Automotive. Emerging players are CarGurus and TrueCar.
Does Carvana have an API?
No public API is recorded for Carvana.
What industry is Carvana in?
Carvana's product category is Online Used Car Retail. Its primary akta.pro industry code is CRAFAKAE, Automotive Vehicles & Parts C2C, with a secondary code of FSAKADAA, New & Used Auto Purchase Loans. Its NAICS code is 44112 and its SIC code is 5500.