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Carvana Stock Dips as CEO Highlights EV Demand Shift Amid Broader Used-Car Market Strength

Carvana Stock Dips as CEO Highlights EV Demand Shift Amid Broader Used-Car Market Strength

Author:

Global Cryptocurrency

Published:

2025-11-06 18:35:02

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BTCCSquare news:

Carvana shares fell nearly 4% as CEO Ernie Garcia cited waning consumer appetite for used electric vehicles—a trend exacerbated by expiring tax credits. The used-car platform's EV inventory mix remains above industry average, but Garcia noted buyers are reverting to gas-powered models "in the way their parents and grandparents did."

Despite the EV slump, robust demand for pre-owned combustion vehicles is offsetting losses. New car prices nearing historic highs continue to drive buyers toward used alternatives, sustaining Carvana's overall sales momentum. "It's just a shift in preference," Garcia observed, underscoring the market's rapid realignment.

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