Carvana Co. (NYSE:CVNA) shares traded higher on Tuesday as it announced an expansion of its delivery services.
The online used-car retailer said it rolled out same-day vehicle delivery in Oregon's Eugene metro area.
Eligible Eugene-area customers can now receive purchased vehicles within hours of completing an online order.
Same-Day Delivery Expansion
The company said buyers can complete selection, financing and checkout entirely through its digital platform.
Carvana also extended same-day pickup for local vehicle sellers.
Sellers can schedule vehicle pickup immediately after finishing Carvana's online appraisal process.
Operational Strategy
Carvana said its e-commerce platform supports browsing, financing, trade-ins and purchases without visiting a dealership.
The company emphasized speed and convenience as key differentiators.
"After serving Eugene car buyers and sellers for many years, we're proud to offer an even faster and more convenient Carvana experience with same-day delivery," said Jacqueline Hearns, senior director of market operations and expansion.
Hearns said the company's logistics network enables delivery within hours after checkout.
Carvana initially launched same-day delivery in Arizona. The service now operates across select markets in more than 20 states.
The company plans continued regional expansion.
Carvana said it will scale the service alongside investments in logistics and vehicle reconditioning infrastructure.
Recent Short Seller Report
The rollout of the service comes as Carvana faces fresh scrutiny after short seller Gotham City Research accused the company of inflating earnings across multiple reporting periods.
The firm alleged Carvana overstated profits in 2023 and 2024 by more than $1 billion and relied heavily on businesses tied to CEO Ernie Garcia III's family.
Carvana, in an emailed statement, called the report "inaccurate and intentionally misleading."
CVNA Price Action: Carvana shares were up 1.49% at $413.98 at the time of publication on Tuesday, according to Benzinga Pro data.
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