Carvana Co is a holding company that markets, and trades used vehicles through its e-commerce platform. The company was founded in 2012 and operates in the US, with headquarters in Tempe, Arizona.
Carvana Co was founded originally as a subsidiary of used car retailer and finance company DriveTime Automotive Group Inc. It was eventually launched as a separate company and went public in 2017. As of November 2021, Carvana has opened a new office in Des Moines, Iowa, and serves customers in more than 300 markets in the US. Carvana Co provides an online platform for the purchase, financing, sale, or trade-in of vehicles. The company’s website enables customers to view, assess, and select vehicles; make purchase, sale, or trade-in arrangements with the company; secure warranties; and arrange for vehicle delivery or pick-up. Third-party and in-house financing options are available for vehicle purchases. The company has also built its patented Vehicle Vending Machines in specific locations.
In October 2021, Carvana Co partnered with Hertz, allowing the car rental company to offload its used rental vehicles through Carvana sales channels. Carvana trades on the NYSE with the stock ticker CVNA.
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