Carvana ($CVNA): 2Q24 Units and Economics (Research Note #11)

Retail units and economics through the latest quarter.

The focus of this CVNA Research Note is on Carvana’s retail units and economics over time, through Q2 2024.

• Includes some Q3 and Q4 estimates from Clarity Markets / Alternative Alpha, resources I highly recommend and use frequently.

The purpose of this Research Note is to create visuals and metrics not readily available within Carvana’s reporting / supplemental tables or from other sources.

• Such as incremental profit per retail unit which is insightful, more recurring figures that require adjusting reported numbers, and more.

Additionally, I wanted to create the infrastructure to be able to compare the units and economics to other companies.

• I will be sharing comparisons to CarMax soon.

I plan to update the figures below following Carvana’s upcoming Q3 2024 earnings.