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The Decline of Carvana…What REALLY Happened?

Where there is progress to be made in just about any industry, there are sure to be newcomers trying out their own creative ideas in order to span the gap between where we currently stand and where the future of the industry might be.

It really feels as if, in more ways than one, we are about to see some pretty wild ideas come to life, at least in the automotive industry.

As it pertains to how exactly cars are bought and sold, we have seen some interesting concepts come to life over the past decade or so. One of those ideas just so happens to come from a company by the name of Carvana.

After opening shop in 2012, Carvana attempted to do something that was relatively foreign to the automotive dealership world. They wanted to sell cars entirely online, having the new owner of the vehicle purchase it without ever seeing it. The idea, in Carvana’s own words, was to essentially become the Amazon of the car dealership world. You might remember the brand for its car vending machines where people would go to purchase a new vehicle – a stunt that drew the brand a lot of attention.

While some of the brand’s ideas most certainly seem forward thinking, there have also been a wide variety of speed bumps along the way for this online car selling platform. If you just take one look at the company’s stock price, it really spells the story as it has been nothing short of a roller coaster ride for investors in the brand.

Below, our host, Company Man, gives us the complete rundown of what exactly it is that Carvana is trying to accomplish and what they’ve been through to get there. From lawsuits to missing car titles and all sorts of other controversy, the brand has certainly battled its way through some thick adversity to this point. With bankruptcy looming over the horizon, we can only wonder if Carvana will ever make a comeback or if it’s a brand just doomed to reside nowhere but in the history books for eternity.