Carvana Sales Up 46% in $4.2B Q1

Carvana Co. executives say the auto retail disruptor increased sales by 46% year-over-year in the first quarter, moving 133,898 units and generating $4.2 billion in revenue, both all-time quarterly records.
“We are incredibly well positioned for the path ahead and have very clear visibility to even stronger financial performance, much larger scales, and even better customer experiences,” writes founder and CEO Ernie Garcia in a press release.
In February, the mood following Carvana’s similarly positive Q4 report was spoiled by a contemporaneous call for funding. The company then made news when it acquired its first franchised dealership, the former Jerry Seiner Chrysler-Dodge-Jeep-Ram in Casa Grande, Ariz., near Carvana’s Tempe headquarters.