Carvana Co. (NYSE:CVNA) CEO Ernest Garcia III and Vice President Paul Breaux sold thousands of CVNA shares following the company's second-quarter earnings report.
Ernest Garcia III Sells Shares Worth More Than $3.5 Million
The CEO sold over 10,000 CVNA shares priced at $352.12, according to an SEC filing on Thursday. Garcia also sold more than 2,900 shares priced at $365.34 and more than 7,000 shares priced at $351.29.
Garcia's share sales amount to over $7 million. Meanwhile, the company's VP, Paul Breaux, also sold over 15,000 shares priced at $361.96. The transaction was worth over $5.43 million.
Source: SEC
Carvana Sees EV Push, Amazon Adds Used Cars To Auto Platform
The news comes as Carvana reported that over 9% of total unit sales in Q2 2025 were electrified vehicles, with SUVs making up over 44% of the electrified vehicles sold.
Carvana also reported that the number of electrified vehicles, which include EVs and PHEVs, rose from just over 2% in 2023's second quarter, marking significant growth.
However, Amazon.com Inc. (NASDAQ:AMZN) also announced that it would start offering used cars on its automotive platform. The platform currently operates in over 130 cities
Trump Tariffs Driving Used Car Price Surge
Elsewhere, President Donald Trump's auto tariffs have led to a surge in used car prices in the U.S., which have hit new highs since the surge in August 2022, showcasing the impact of the tariffs.
The Manheim Index, a metric used to track used car prices in the U.S., has surged 6.3% year-on-year, according to data from Cox Automotive.
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