By Nicholas Hatcher
Carvana Chief Executive Ernie Garcia said he expects the used-car business to be less impacted by tariffs than companies that sell new cars.
"We sell used cars, so to the extent that tariffs flow through to steel or to cars, that would be on the new side," Garcia told CNBC on Thursday. "The used cars are already out there."
Garcia said prices on used cars could change: "New car prices go up, I think generally that would also pull up used car prices, but less."
His comments come a day after the online used-car seller reported a rise in first-quarter earnings and revenue, beating analyst expectations.
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(END) Dow Jones Newswires
May 08, 2025 09:49 ET (13:49 GMT)
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