Carvana

Carvana operates a vertically integrated used-vehicle retail and wholesale model. It sources cars from consumers and other channels, reconditions and prices them centrally, merchandises them online with detailed vehicle imagery, and fulfils demand through delivery and pick-up infrastructure. Vehicles not suited for retail can be liquidated through its wholesale auction operations. The model creates value by combining inventory aggregation, pricing technology, consumer financing, and owned logistics into a single transaction flow.

Carvana is a US public company that sells used vehicles through a vertically integrated digital commerce platform. Consumers can browse inventory, obtain financing, trade in or sell cars, and arrange home delivery or pick-up through a largely online workflow. The company also operates ADESA wholesale auctions, giving it a B2B disposal and sourcing channel alongside its consumer retail business.

Carvana generates most of its revenue from retail vehicle sales and related unit margins. It adds higher-margin income from financing, loan-related economics, finance and insurance products, and wholesale vehicle auctions. Its customers are primarily individual consumers buying or selling used cars online, with automotive dealers as secondary customers through ADESA wholesale auctions.