FRISCO, Texas -

The past two years, starting with its 2022 acquisition of ADESA’s U.S. auto auctions, have arguably been the most transformative in Carvana’s history.

But to understand where the online used-car retailer is now and its potential growth trajectory, one must look at what Carvana was doing in the years immediately prior to that acquisition.

What was the online retailer up to?

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