Home / Business and Economy / Carvana's 2025 Surge: Doubled Shares, Record Profits
Carvana's 2025 Surge: Doubled Shares, Record Profits
30 Dec, 2025
Summary
- Carvana shares more than doubled in 2025, reversing earlier concerns.
- Retail car sales grew 44% year-over-year in Q3, accelerating from Q2.
- Full-year 2025 adjusted EBITDA is expected to exceed $2 billion.
In 2025, Carvana has emerged as a remarkable market success, with its stock value more than doubling year to date. What was once perceived as a high-risk leveraged venture has transformed into a company posting record sales volumes and substantial profits.
The company's third-quarter performance underscores this positive momentum, with retail car sales escalating by 44% year-over-year to 155,941 units. This growth accelerated from the previous quarter and outpaced unit expansion, as revenue surged 55% year-over-year to approximately $5.65 billion. Carvana also reported a net income of $263 million and operating income of $552 million, highlighting significant improvements in profitability.
Looking forward, Carvana anticipates fourth-quarter retail unit sales to surpass 150,000 units. Management further projects full-year 2025 adjusted EBITDA to meet or exceed the upper end of its guidance range, between $2.0 billion and $2.2 billion. Despite this impressive performance, Carvana still holds a small fraction, around 1.5%, of the U.S. used car market, indicating considerable room for future expansion.
