The online used-car giant also said the current interest rate environment forced lower sales conversion rates and fewer profits per vehicle sold, resulting in fewer profitable sales.Ĭarvana generated revenue of $3.4 billion for the quarter, down 3 percent compared with the same period a year ago. ![]() The Tempe, Ariz.-based company said high used-vehicle prices and rising interest rates, in particular, led to softening demand as consumers zeroed in on affordability. The loss is larger than both Carvana's $506 million first-quarter loss and the $68 million loss it posted for the same period a year ago. 30, noting it continues to grapple with inflationary pressures and rising interest rates that are causing consumer demand for used vehicles to wane. ![]() ![]() said Thursday it recorded a net loss of $508 million in the quarter ending Sept.
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