Connected Car
Carvana is now projecting a stronger third quarter in certain key metrics, the online used-car retailer said Wednesday. Wholesale gross profit per unit (non-GAAP) reached $1,236 in the Q1, up from $229 a year earlier. Carvana is projecting wholesale GPU (non-GAAP) in the range of $800 to $1,000 for Q3, compared to $681 a year ago. “We see a significant opportunity to expand our wholesale offering to serve more individual and dealer customers,” Carvana said in its slides. As for the retail GPU, Carvana said it has “made significant fundamental gains” since full-year 2021 that help retail GPU, “and we see further opportunities from here.”By the end of the year, Carvana is targeting having reached retail GPU fundamental gains between $600-1,110 since full-year 2021.