Carvana ($CVNA): 4Q24 and 1Q25 Units (Research Note #18)

Analysis of the retail units over time (and vs KMX), with a focus on the latest retail-unit estimates.

This CVNA Research Note analyzes the retail units over time, including with the latest estimates for 4Q24 and 1Q25.

The purpose is to:

1. Analyze the latest trends in YoY and QoQ growth rates with these current unit estimates.

2. Compare those growth rates and trends to CarMax (KMX).

For analysis on the unit economics, refer to the last CVNA Research Note: “KMX 4Q24 vs CVNA 3Q24”.

Enjoy.