Carvana, or the stock market rout of the “Amazon of used cars”

The pandemic was ultimately not the most complicated period. carvana, the rising star of online used car sales, has just laid off 2,500 people – many of them by simply meeting on Zoom. The Phoenix (Arizona) company, which has shaken up traditional retailers like CarMax in ten years by promising fast and contactless transactions, is in the midst of a stock market rout, with a share price divided by almost eight since the start of the year. .

A year ago, the “Amazon of second-hand cars” had a lot of cards in hand: customers with purchasing power supported by the pandemic stimulus plans, and a market for new cars dried up by the shortage of semiconductors. In 2021, Carvana’s turnover was multiplied by 2.3, to 12.8 billion dollars (12.1 billion euros), with 425,000 used vehicles sold (+ 74%) . The gross margin per vehicle, a key criterion of the company, jumped by almost 40% in one year, to 4,537 dollars.

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