Rising interest rates and soaring prices are crimping demand for used cars.
Carvana (CVNA -0.36%) is slashing expenses as customer demand slows. The used car company saw sales surge after the pandemic's onset as a shortage in new cars for sale was a boom for the used car industry. This video will highlight how Carvana is grappling with the reversal of that tailwind.
Stock prices used were the afternoon prices of Nov. 7, 2022. The video was published on Nov. 8, 2022.
Parkev Tatevosian has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through fool.com/parkev, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.
