Carvana
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Laying off 1500 (8%):
https://www.thetruthaboutcars.com/cars/news-blog/carvana-takes-another-hit-44497639
The cuts, along with the closing of some locations and the elimination of some work shifts, are all meant to save costs. A source told Bloomberg that it's because of the "challenging economic environment".
The cuts will affect operations, technology, and corporate roles. Those who are let go will get separation/severance pay through at least the new year, plus three months of healthcare coverage and unvested equity awards via cash payments.
Based in Tempe, Arizona, Carvana is struggling with a cratering stock price and cash outflow. That's because after seeing a surge of success in 2021 as the lack of new-car supply drove used-car prices up, the market has shifted. Used-car prices are falling while inflation is rising and that has negatively impacted consumer demand for pre-owned vehicles.
As of Thursday, Carvana stock had plummeted 96 percent during the year. The stock is just under $7 as I type this. -
C300 Coupe. 2022 3,770 miles on odometer. Still under factory warranty.
Traded the Toyota Crown for it. Even up trade pretty much. Paid cash, and that is a first for me on a car of this caliber. Taking that $540 monthly I was paying on the Toyota and putting it into a Roth.
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If I may ask, what was the reason for the change? Wanted a smaller car?
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The Toyota Crown is very nice. For a Toyota. It misses the mark for me with too many bugs in the electronics and software. It's ride is compliant and smooth but a little too cushy and a little too loose feeling for my taste. It doesn't feel as confident in the handling department as I would prefer. It's increased height doesn't contribute to great handling characteristics. It doesn't "feel" like a Mercedes.
I gave it a try. It was a nice car but one that I knew I wasn't going to keep long-term. I lost a few dollars in depreciation but that is always the case when buying a new car.
I wanted to pay it off to stop the interest payout monthly, but I didn't want the car.
I just wanted to be back in a Benz. I have been driving them since I was 25 years old. I have had many models in various vintages. I just sold my 2005 S500 that served me well for 13+ years and 100k+ miles. We didn't need 3 cars. We still have a 2021 Subaru CrossTrek.
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Oh Lord won't you buy me a Mercedes Benz?
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@89th LOL
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Took delivery and I have had it for a week now. I am very satisfied with my experience with Carvana. The car is about as close to new as you can get. I am going to have the paint hand detailed. Clay bar to remove the old wax, water spots and general dirt that are baked into the surface. Minor swirling, abd a few scratches buffed, etc. It looks new from a few feet away but up close inspection reveals that it needs this treatment.
It will be a nice vehicle to drive to PA, Jon's party in NY, and Maine later this month.
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This post is deleted!
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This is making me a little frustrated. The attempt at fixing my GMC has failed, and we are at an impasse in buying a new car or investing yet more to try and fix the issue.
At the heart of the impasse? Next aJune, Karla’s Pilot is paid off and then I was supposed to get my mid-life crisis car. I’m thinking I will have to find a decent but older used car that will retain a fair amount of trade value next year... But that’s going to take more time to find…
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250K miles? It's new car time.
We decided for our daughter to keep the Terrain for a while longer, with the caveat that if she drives anywhere significantly across the desert from Vegas she rents a newer vehicle. We instead used the money to pay off some of her student debt.
Her career has been somewhat of a roller coaster. She got written up by her petulant CEO in April for an issue that was really due to his conflicting instructions. After that another PM quit, then the HR guy of two months quit without notice. No one can find the reprimand letter in her file.
She then inherited a very large cruise ship project and led the FAT (facility acceptance testing) with all the cruise line bigwigs and aced it. I think it's the first time the CEO got to actually see her in action. Now she's the golden girl and just got a multimillion-dollar project with a major venue in NYC. And a very significant raise. Things are looking good.
"The intelligent man who is proud of his intelligence is like the condemned man who is proud of his large cell." Simone Weil
