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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Carvana

Carvana

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  • George KG Offline
    George KG Offline
    George K
    wrote on last edited by
    #8

    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.

    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

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    • markM Offline
      markM Offline
      mark
      wrote last edited by
      #9

      I'm about to pull the trigger on a car purchase from Carvana.

      Trading my car to them as part of the transaction too.

      1 Reply Last reply
      • jon-nycJ Online
        jon-nycJ Online
        jon-nyc
        wrote last edited by
        #10

        Whatcha getting?

        "You never know what worse luck your bad luck has saved you from."
        -Cormac McCarthy

        1 Reply Last reply
        • markM Offline
          markM Offline
          mark
          wrote last edited by mark
          #11

          C300Coupe.png

          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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          • jon-nycJ Online
            jon-nycJ Online
            jon-nyc
            wrote last edited by
            #12

            Nice.

            "You never know what worse luck your bad luck has saved you from."
            -Cormac McCarthy

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            • markM Offline
              markM Offline
              mark
              wrote last edited by
              #13

              It feels weird to do this but I am giving Carvana a chance to impress or disappoint.

              Hopefully, I will be impressed.

              1 Reply Last reply
              • taiwan_girlT Offline
                taiwan_girlT Offline
                taiwan_girl
                wrote last edited by
                #14

                If I may ask, what was the reason for the change? Wanted a smaller car?

                1 Reply Last reply
                • markM Offline
                  markM Offline
                  mark
                  wrote last edited by
                  #15

                  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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                  • 89th8 Offline
                    89th8 Offline
                    89th
                    wrote last edited by
                    #16

                    Can’t beat a Toyota in most cases.

                    IMG_4750.jpeg

                    taiwan_girlT 1 Reply Last reply
                    • Doctor PhibesD Online
                      Doctor PhibesD Online
                      Doctor Phibes
                      wrote last edited by
                      #17

                      Oh Lord won't you buy me a Mercedes Benz?

                      I was only joking

                      1 Reply Last reply
                      • 89th8 89th

                        Can’t beat a Toyota in most cases.

                        IMG_4750.jpeg

                        taiwan_girlT Offline
                        taiwan_girlT Offline
                        taiwan_girl
                        wrote last edited by
                        #18

                        @89th LOL

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