Online used-car retailer Carvana Co CVNA.N said bit.ly/32SOqyh on Tuesday it expects record revenue and retail sales in the third quarter due to a strong rebound in demand for vehicles in the United States, following easing of lockdown restrictions.
Shares of the company, which have nearly doubled in value this year, rose 20% in premarket trading, and were set to open at more than six week high.
“The momentum that we saw in the second quarter accelerated into the third, leading to record performance for Carvana,” Chief Executive Officer Ernie Garcia said.
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Auto sales in North America have continued to recover