Carvana (CVNA) Company presentation summary

Market overview and opportunity

• U.S. used car market is massive, fragmented, and valued at $1.2 trillion in 2022, with over 43,000 dealerships and no single dealer holding more than 2.3% market share.

• 81% of consumers dislike the traditional car buying process, and only 9% rate car salespeople as highly trustworthy.

• Digital transformation is accelerating, with 86% of purchases involving online research and 61% of consumers open to buying cars online.

Customer experience and differentiation

• Offers a seamless, fully online car buying and selling process, including 10-minute purchases, 7-day money-back guarantee, and same-day delivery in select markets.

• Inventory exceeds 75,000 vehicles, with lower prices and no dealer fees compared to traditional dealers.

• Automated, data-driven vehicle appraisal and trade-in process, with real-time offers and high wholesale gross profit per unit.

• Unique fulfillment through branded delivery and 39 car vending machines, enhancing customer experience and brand visibility.

• High customer satisfaction: 4.7/5 average rating and 84% would recommend to a friend.

Scalable, nationwide infrastructure

• Acquired ADESA U.S., adding 56 locations and expanding reconditioning capacity to support up to 3 million annual retail units.

• Integrated reconditioning at 16 ADESA sites in 2025, increasing inventory pools by over 40% year-over-year.

• Nationwide logistics network connects markets, vending machines, and reconditioning centers for efficient delivery and inventory management.