Online car retailer Caravan is on the brink of bankruptcy, according to 9NEWS. Its stock “tanked” as shares lost 96 per cent of their value over the last year. “Carvana was really created to disrupt the U.S. vehicle market. It was meant to disrupt the dealership model,” said CNBC auto industry reporter Michael Wayland. He added that the company struggled to acquire inventory during the pandemic, and overpaid for used cars, and now the market is cooling down. (Source: 9NEWS) Read the original story…
