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.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
May 08, 2025 09:49 ET (13:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.