7 min
Carvana Not Focused on Growth, Leaked Rivian Release, The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier
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- Business
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It’s Thursday and we’re talking about Carvana’s strategic pivot from growth to efficiency. We’re also talking about Rivian’s leaked release details of today’s R2 drop
Show Notes with links:
As the market continues to tighten, Carvana CEO Ernie Garcia is leading the company in a strategic pivot from growth-focus to focusing on unit economics, emphasizing execution in scaling operations"When that investor support evaporated and we clearly had to be capital independent, it forced us to basically reverse those priorities," said Garcia, who spoke Monday at a technology, media and telecom conference held by investment banking firm Morgan Stanley.”The company aims to sell more vehicles in Q1 2024, focusing on stability and cost reduction, especially in logisticsGarcia identifies Carvana's logistics network as a key area for reducing costs, pointing out potential savings in vehicle transport by leveraging newly acquired ADESA reconditioning centers. Additionally, Carvana aims to enhance gross profit through smarter credit pricing and strategic vehicle acquisitions.Garcia sees electric vehicles as a significant opportunity, with Carvana having a larger market share in EVs than in ICE vehicles."We couldn't ask to be in a better spot," Garcia optimistically notes, despite acknowledging the challenges ahead.
Internet sleuths have given us an early glimpse at the Rivian R2's specs, revealing exciting details ahead of its official unveiling today.The R2 is poised to offer up to a 330-mile range and a starting price of $47,000, aiming for a 2026 market debut.Expect a zippy three-second 0 to 60 mph acceleration from this compact SUV, although likely reserved for the top-tier models.It's designed as a five-seater with a 115.6-inch wheelbase, and comes with features like a powered rear glass and a tool-less bike mount.Rivian's CEO, RJ Scaringe, hints at a vehicle that's both smaller and more affordable than the R1, aligning with financial forecasts.Amidst the anticipation, Rivian faces workforce reductions, with about 100 employees laid off at its Normal, IL factory, underscoring ongoing challenges.Hosts: Paul J Daly and Kyle Mountsier
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Read our most recent email at: https://www.asotu.com/media/push-back-email
Shoot us a Text.
It’s Thursday and we’re talking about Carvana’s strategic pivot from growth to efficiency. We’re also talking about Rivian’s leaked release details of today’s R2 drop
Show Notes with links:
As the market continues to tighten, Carvana CEO Ernie Garcia is leading the company in a strategic pivot from growth-focus to focusing on unit economics, emphasizing execution in scaling operations"When that investor support evaporated and we clearly had to be capital independent, it forced us to basically reverse those priorities," said Garcia, who spoke Monday at a technology, media and telecom conference held by investment banking firm Morgan Stanley.”The company aims to sell more vehicles in Q1 2024, focusing on stability and cost reduction, especially in logisticsGarcia identifies Carvana's logistics network as a key area for reducing costs, pointing out potential savings in vehicle transport by leveraging newly acquired ADESA reconditioning centers. Additionally, Carvana aims to enhance gross profit through smarter credit pricing and strategic vehicle acquisitions.Garcia sees electric vehicles as a significant opportunity, with Carvana having a larger market share in EVs than in ICE vehicles."We couldn't ask to be in a better spot," Garcia optimistically notes, despite acknowledging the challenges ahead.
Internet sleuths have given us an early glimpse at the Rivian R2's specs, revealing exciting details ahead of its official unveiling today.The R2 is poised to offer up to a 330-mile range and a starting price of $47,000, aiming for a 2026 market debut.Expect a zippy three-second 0 to 60 mph acceleration from this compact SUV, although likely reserved for the top-tier models.It's designed as a five-seater with a 115.6-inch wheelbase, and comes with features like a powered rear glass and a tool-less bike mount.Rivian's CEO, RJ Scaringe, hints at a vehicle that's both smaller and more affordable than the R1, aligning with financial forecasts.Amidst the anticipation, Rivian faces workforce reductions, with about 100 employees laid off at its Normal, IL factory, underscoring ongoing challenges.Hosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/
JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
Read our most recent email at: https://www.asotu.com/media/push-back-email
7 min