Carvana Shares Rise on Breakneck Sales Growth -- WSJ
Dow Jones2026/10/29 15:06By Christopher Otts
Carvana's rapid growth streak continues even as the overall U.S. used-car market is flat and high prices and interest rates continue to challenge car buyers. Investors are taking note, adding to the retailer's already rich valuation.
Shares of the online used-car retailer were up 15% in morning trading Thursday, on track for their best day in more than a year.
The rally comes a day after Carvana reported a 39% increase in third-quarter vehicle sales. The news wasn't entirely positive; sales increased more quickly than profit did. Expenses such as advertising were up on a per-car basis. Higher diesel prices and interest rates are sapping some of the bottom line.
Yet analysts see a long runway ahead. Carvana's business has roughly doubled in two years, and the company says its share of the highly fragmented used-car market is only about 2%.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 29, 2026 11:06 ET (15:06 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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