Tesla, Carvana Tag Team: Model 3 Claims Used EV Sales Crown Once Again
Portfolio Pulse from Adam Eckert
Carvana Co (NYSE:CVNA) reported that its EV unit sales have grown by 786% over the last five years, with Tesla Inc (NASDAQ:TSLA) topping the list of bestsellers for the third year in a row. The Model 3 is the most popular used EV on Carvana due to its low prices. Tesla's strategy of lowering prices on its vehicles has boosted sales and driven better-than-expected delivery numbers. Tesla represents three of the top six bestselling EVs on Carvana's platform.
July 10, 2023 | 10:13 pm
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POSITIVE IMPACT
Carvana's EV unit sales have grown by 786% over the last five years, with Tesla vehicles being the most popular. This indicates a strong demand for used EVs on Carvana's platform.
The exponential growth in Carvana's EV sales, particularly of Tesla vehicles, indicates a strong demand for used EVs on its platform. This could potentially drive Carvana's revenues and positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla topped Carvana's bestseller list for the third year in a row, with the Model 3 being the most popular used EV. Tesla's strategy of lowering prices has boosted sales and driven better-than-expected delivery numbers.
Tesla's dominance in Carvana's bestseller list and its strategy of lowering prices to boost sales indicate a strong demand for its vehicles. This could potentially drive Tesla's revenues and positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100