INTERVIEW - Ernie Garcia, Carvana CEO: "We've never been close to bankruptcy".
July 20, 2023 at 02:11 pm EDT
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"We never came close to bankruptcy," says Ernie Garcia, chairman and CEO of Carvana (CVNA), who believes the used car dealer was in much better shape than the markets thought before its debt restructuring. He promises that the group will improve its costs and performance.
Carvana Co. is a holding company. The Company operates an e-commerce platform for buying and selling used cars. On the Company's platform, consumers can research and identify a vehicle, inspect it using its 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle, and schedule delivery or pick-up, all from their desktop or mobile devices. It also provides automated vehicle valuations for buying vehicles from customers with or without a retail purchase, automated financing, vehicle service contracts (VSC), auto insurance, GAP waiver coverage, limited warranty, and other ancillary products. It offers pick-up and delivery options, including pick-up at its vending machines or hubs, and as soon as same day deliveries, depending on the market. The Company's in-house customer advocates are available to answer customer questions that arise throughout the process.
CARVANA CO. 
