SUVs spark electric surge at Carvana

Image courtesy of company.
In the last two years, electric vehicles and plug-in hybrids have nearly quadrupled their combined share of Carvana’s sales, the online used-car retailer said in a special report.
And it’s perhaps a surprising segment leading that EV/PHEV surge.
In its EV Trends report released Wednesday, Carvana said 9% of its sales in second quarter were either EVs or PHEVs. That’s an all-time high for the used-car retailer and up from a 2.3% share in the second quarter of 2023.
And for both electrics and plug-ins, SUVs have become the dominant seller for Carvana.
SUV share of PHEV sales at Carvana is approaching 60%; SUVs represent about 40% of EV sales at the retailer – exceeding sedans, hatchbacks and other vehicle types in both categories, the data shows.
Two years ago, hatchbacks were the top EVs at Carvana, and sedans ruled PHEVs.
Combined, SUVs accounted for 44% of Carvana’s PHEV and EV sales in the second quarter, up from 24% two years ago.
The retailer said it is also offering more selection in the EV and PHEV categories. It listed 66% more EV makes/models than it did in Q2 2023 and twice as many PHEV options.
“We’re always working to grow selection to offer an inventory that meets our customers’ preferences, and as electrified vehicle options expand, this segment continues to increase as a percentage of Carvana’s sales. Last quarter, nearly 1 in 10 vehicles we sold was an EV or PHEV – a significant shift from just a couple of years ago,” Carvana executive vice president of strategy Christina Keiser said in a news release.
“The widening selection of electrified SUVs has been especially powerful, offering buyers greater variety in one of the most sought-after body styles,” Keiser said.
Jeep had the top three spots of most popular plug-ins at Carvana in Q2 (Wrangler Unlimited 4xe, Wrangler 4xe and Grand Cherokee 4xe), with the Chrysler Pacific Hybrid and Chevrolet Volt rounding out the top five, respectively.
Meanwhile, Tesla led the way for EVs (Model 3, Model Y and Model S in spots Nos. 1-3), with the Chevrolet Bolt EV at No. 4 and the Nissan Leaf at No. 5.