What might be next for Carvana after a rocky few months

By Mark Brodie
Published: Wednesday, May 25, 2022 - 11:47am

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Carvana Car Vending Machine Tempe
The view from inside Carvana’s Car Vending Machine in Tempe.

Tempe-based Carvana is having a rough few months.

The used-vehicle retailer perhaps best known for its car vending machine lost around half a billion dollars in the first quarter of this year and laid off more than 10% of its workforce.

At the same time, it paid more than $2 billion to buy a car auction service.

Last August, the company’s stock price was more than $370. As of May 25, it’s right around $30.

To discuss the state of Carvana and where it might go from here, The Show spoke with C.J. Moore, a staff reporter covering used vehicles and wholesale auctions for Automotive News in Detroit.

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