After reporting strong first quarter results, used-car retailer Carvana set a goal of selling 3 million units with significant profit within five to 10 years.

It is well on its way to achieving its “mission” of changing the way people buy cars, Carvana chairman, president and CEO Ernie Garcia said during the earnings call.

“Given the position we're in and the fundamental gains we see in front of us, the path to that goal, which we currently view as both very exciting and very achievable is that we ...

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