Carvana: Rise and Challenges

Carvana, once a rising star in the online used car market, faced significant challenges due to operational complexities, high demand during the pandemic, and financial struggles. Despite initial success and rapid growth, including a Fortune 500 listing, Carvana's expansion efforts, such as the Adesa acquisition, led to increased debt. The company now faces competition from traditional and online retailers, and its future depends on strategic adjustments and financial recovery.

What was Carvana's stock price peak in August 2021?

• $370

• $450

• $250

• $150

Who is the CEO of Carvana?

• Ernie Garcia III

• Ryan Keaton

• Jim Farley

• Elon Musk

What unique feature does Carvana offer for car pickup?

• Drive-thru service

• In-store pickup

• Car vending machines

• Home delivery

When did Carvana become a public company?

• 2021

• 2017

• 2013

• 2012

Which company is the number one used car retailer, ahead of Carvana?

• Autonation

• CarMax

• Shift

• Vroom

Which company did Carvana acquire to expand its footprint?

• Adesa

• CarMax

• Shift

• Vroom

What was a significant factor in Carvana's initial success during the pandemic?

• Government stimulus programs

• High new car production

• High interest rates

• Low demand for used cars

What was a major issue Carvana faced with state regulators?

• Selling new cars

• False advertising

• Overpricing cars

• Failing to deliver titles

What was the market cap of Carvana at its peak?

• $60 billion

• $60 million

• $600 million

• $6 billion

What is Carvana's primary goal moving forward?

• Achieve profitability

• Acquire more companies

• Expand globally

• Increase car prices