Podcast appearances and mentions of ernie garcia

Shoot us a Text.Episode #1039: Today we're talking about Carvana's record-setting quarter and bold new goal, Ford's strategic price hikes post-tariffs, and why Google's stock took a beating after an Apple exec dropped a courtroom AI bomb.Show Notes with links:Carvana has bounced back in a major way, setting a new quarterly record for used-vehicle sales and showcasing the company's transformation from high-growth chaos to sustainable profitability, even amid looming tariff concerns.Q1 retail sales hit 133,898 units, up 46% year over year—beating their prior record by 16,000 vehicles.Net income reached $373M; revenue surged 38% to $4.2B.Tariffs caused a temporary demand bump, but Carvana is now focused on adapting inventory to price-sensitive consumer behavior.Carvana aims to sell 3 million vehicles annually within 5–10 years, targeting a 13.5% adjusted EBITDA margin by fully utilizing its existing infrastructure like ADESA megasites and inspection centers.CEO Ernie Garcia emphasized flexibility: “We've got significant margin to work with… and significant cash balances.”As the auto industry adjusts to newly announced tariffs, Ford is selectively increasing prices on several 2025 models while shielding current dealer inventory.Starting May 2, 2025 Mavericks, Bronco Sports, and Mach-Es (all produced in Mexico) will see MSRP increases of $600–$2,000, depending on trim and features.Existing stock and vehicles already in transit will keep their original sticker prices.Earlier this week, Ford withdrew its 2025 outlook, citing $1.5B in expected tariff-related earnings impact.Ford is one of the first major automakers to publicly respond to the impact of the tariffs with pricing strategy.“We can't forecast what we can't see,” said one executive privatelyIn a courtroom twist, an Apple executive may have confirmed Google's worst fear—that AI is starting to eat into its search dominance.Eddy Cue, Apple's services chief, testified that Safari searches dipped in April for the first time ever, likely due to users turning to AI tools like ChatGPT and Perplexity.Cue expects Apple will eventually add AI search engines as user-selectable options in Safari.The revelation came during Google's antitrust trial, where Apple disclosed it receives over $20B annually to keep Google the default.Google stock fell more than 7% following Cue's testimony, wiping out tens of billions in market cap. They responded by saying “we continue to see overall query growth,” especially from Apple platforms.Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.Get the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/

My guest today is Cliff Sosin. Cliff is the founder of CAS Investment Partners, a fund he started with $5 million in 2012 and has grown to $1.7 billion as of the last reported numbers at the end of 2024. At the time, CAS had only four positions. This conversation is different to our typical episodes. We start by talking about Cliff's investing philosophy but the bulk of this long discussion is a case study into his remarkable investment in Carvana. Cliff is one of the biggest investors in the business, which had a market cap over $60 billion in 2021, then fell 99%, survived, and now has a market cap approaching $50 billion again. While I hosted Carvana's CEO, Ernie Garcia, last year to get the inside perspective on managing through such turbulence, today we hear the investor's side of this extraordinary story. It is a singular episode and there are so many lessons in this rare opportunity to hear a major investor describe his decision-making process at every stage of the journey. Please enjoy my great conversation with Cliff Sosin. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. –  This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:00:32) Early Career and Discovering Investing (00:01:18) Journey Through Financial Firms (00:01:49) Starting the Firm and Initial Challenges (00:03:41) Investment Philosophy and Market Realities (00:05:07) Building the Firm and Investor Relations (00:07:23) Defining a Good Business (00:12:31) Contained vs. Uncontained Businesses (00:15:30) Mental Models and Market Insights (00:30:13) The Role of ESG in Investing (00:34:26) The Carvana Investment Story (00:41:01) The Complexity of Car Transactions (00:41:43) Carvana's Real Estate and Logistics Network (00:44:12) Reconditioning and Selling Cars (00:45:16) Carvana's Financing and Customer Service (00:46:43) Economies of Scale and Trust (00:49:40) Challenges and Management Insights (00:59:07) Operational Issues and Market Challenges (01:18:56) Questioning Carvana's Sales Strategy (01:19:17) The Role of Word of Mouth in Carvana's Growth (01:20:28) Identifying Early Adopters (01:21:00) The Impact of Market Conditions on Carvana (01:22:10) Carvana's Operational Challenges (01:23:10) Cutting Costs and Organizational Efficiency (01:27:19) The Apollo Deal and Debt Restructuring (01:28:23) Personal Reflections on Investment Decisions (01:34:21) The Psychological Toll of Investment (01:45:16) Future Investment Strategies and AI (01:49:48)The US Market and Investment Opportunities (01:54:51) The Kindest Thing Anyone Has Ever Done For Cliff

Carvana CEO Ernie Garcia discusses positive fourth quarter earnings, and also discusses shares falling overnight. Garcia speaks with Bloomberg's Jackie Davalos and Caroline Hyde on Bloomberg TV.See omnystudio.com/listener for privacy information.

Welcome to the Car Dealership Guy Podcast! In this episode, I sit down with Ernie Garcia Jr., Co-founder and CEO of Carvana. We dive into topics like the greatest comeback story of any public company ever, lessons from selling millions of cars, the future of the automotive wholesale business and much more. This episode is brought to you by: DealNow - The safe and simple way to avoid fraud, sign documents, and instantly transact any vehicle online. Learn more at https://dealnow.com/ CDG Recruiting - Building on the success of my industry job board, I'm launching CDG Recruiting — a more hands-on, white-glove automotive recruiting service. Our team has decades of experience and has successfully placed over 1,000 roles in the automotive industry. So if you're ready to find your next rockstar employee, try CDG Recruiting today by visiting cdgrecruiting.com Effectv - Reach car buyers across all screens with precision. Effectv offers a full suite of multiscreen TV solutions that puts you in front of your customer—whether they're browsing for their next car or ready to make a purchase.   Learn more at https://www.effectv.com/industries/automotive/   Need help finding top automotive talent? Get started here: https://www.cdgrecruiting.com/ Interested in advertising with Car Dealership Guy? Drop us a line here: https://cdgpartner.com Interested in being considered as a guest on the podcast? Add your name here: https://bit.ly/3Suismu Topics: (00:00:00) - Intro (00:01:39) - Did you believe you could recover? (00:03:19) - How do you keep the train on the tracks when there's all this turbulence? (00:06:20) - How has your relationship with your father changed? (00:06:43) - Who helped you stay focused? (00:10:14) - The inspiration for starting Carvana (00:14:19) - What have been the most significant changes since the stock recovered? (00:18:05) - Was there any reason you slowed down on acquisitions? (00:20:35) - Hiring philosophies (00:22:16) - How do you future-proof and evolve your business? (00:36:31) - Carvana's margins (00:48:09) - Acquiring ADESA (00:56:57) - Thoughts on AI in Carvana (01:01:34) - Closing thoughts and the future of Carvana Check out Car Dealership Guy's stuff: CDG News ➤ https://news.dealershipguy.com/ CDG Jobs ➤ https://jobs.dealershipguy.com/ CDG Recruiting ➤ https://www.cdgrecruiting.com/ My Socials: X ➤ https://www.twitter.com/GuyDealership Instagram ➤ https://www.instagram.com/cardealershipguy/ TikTok ➤ https://www.tiktok.com/@guydealership LinkedIn ➤ https://www.linkedin.com/company/cardealershipguy/ Threads ➤ https://www.threads.net/@cardealershipguy Facebook ➤ https://www.facebook.com/profile.php?id=100077402857683 Everything else ➤ dealershipguy.com This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

Shoot us a Text.It's a busy week around the ASOTU halls as we're in Florida for MRC and then Virginia for MTC. Today we're covering how Carvana is scaling its capacity through the ADESA auction network, how Teslas topped a study on the most fatal cars on the road and the tech hiring slowdown.AnnouncementUpcoming ASOTU Edge Webinar on Friday November 22nd at 2PM: Essential Techniques for Digital Merchandising Success with our friends at CarCutter. Daniel Able and Brian Free, former VP of Digital Marketing at Autonation will be guestsMRC Nov 16-17 — CMA MTC Shoot Nov 18-20Show Notes with links:Carvana is reimagining its operations through strategic integrations of the ADESA auction network, emphasizing vertical integration and expansion.The used car retailer has converted 3 ADESA sites into multifunctional hubs in 2024, with plans for a 6th site by year-end and introduced Carli, a vehicle tracking system optimizing reconditioning and inventory management.Carvana has increased retail gross profit per vehicle to $3,497 in Q3 2024, up 30% year over year.CEO Ernie Garcia highlights the company's capacity for processing 3 million vehicles annually with minimal capital expenditure."Adding capacity without significant time or expense — that's the key to efficient growth," says Christina Keiser, Carvana EVP of Strategy.A recent iSeeCars study revealed that Tesla vehicles had the highest fatal crash rates among automakers in the U.S., raising questions about how they were driven and their design.Teslas led with 5.6 deaths per billion miles driven, double the industry average of 2.8. Kia (5.5) and Buick (4.8) followed as other high-fatality automakers.The Tesla Model Y recorded a 10.6 fatal crash rate, nearly five times the SUV average, while the Model S rate was twice the average at 5.8.Despite these figures, Teslas scored highly in IIHS and NHTSA crash tests.Analyst Karl Brauer linked the high rates to driver behavior: “The biggest contributor to occupant safety is avoiding a crash...and the biggest factor in crash avoidance is driver behavior.”The post-pandemic hiring landscape reveals a sharp slowdown in tech roles, with oversupply, automation, and changing priorities leaving many professionals facing a white-collar recession.White-collar roles like IT, engineering, and marketing fell 20%-32% from 2018-2024AI tools, like ChatGPT, have enhanced productivity, reducing the need for new hires in roles such as coding, where efficiency has skyrocketed.Sectors like healthcare bucked the trend, increasing hiring by 10% to address burnout and staffing shortages, while social services remained stable.Job openings now receive an average of 222 applications—nearly three times as many as at the end of 2021, overwhelming companies and making it harder for candidates to stand out.Job searches are taking longer, averagingHosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

My guest today is Ernie Garcia. Ernie is the co-founder and CEO of Carvana. Ernie joined me on Founder's Field Guide in 2021 and despite all that the business has gone through since that conversation, you'll hear how he has the exact same demeanor and crystal clear vision for the business and its operations today. Carvana is one of the most remarkable business turnaround stories in recent history, and Ernie gives us a raw and candid explanation of navigating through a 99% stock price decline and ultimately emerging stronger on the other side. I don't know many leaders who could survive this. He credits his team of A players again and again for successfully weathering the storm and maintaining morale. We discuss leading through crisis, building for the long term, and a focus on ruthless prioritization and efficiency gains. Please enjoy my conversation with Ernie Garcia.  Check out our new print publication Colossus Review. My guests today For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Ramp is the fastest growing FinTech company in history and it's backed by more of my favorite past guests (at least 16 of them!) than probably any other company I'm aware of. It's also notable that many best-in-class businesses use Ramp—companies like Airbnb, Anduril, and Shopify, as well as investors like Sequoia Capital and Vista Equity. They use Ramp to manage their spending, automate tedious financial processes, and reinvest saved dollars and hours into growth. At Colossus and Positive Sum, we use Ramp for exactly the same reason. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. — This episode is brought to you by Tegus, where we're changing the game in investment research. Step away from outdated, inefficient methods and into the future with our platform, proudly hosting over 100,000 transcripts – with over 25,000 transcripts added just this year alone. Our platform grows eight times faster and adds twice as much monthly content as our competitors, putting us at the forefront of the industry. Plus, with 75% of private market transcripts available exclusively on Tegus, we offer insights you simply can't find elsewhere. See the difference a vast, quality-driven transcript library makes. Unlock your free trial at tegus.com/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:06:00) Carvana's Journey (00:07:38) Facing the COVID-19 Challenge (00:08:12) The Rise and Fall: Carvana's Rollercoaster (00:10:05) Leadership and Resilience in Tough Times (00:14:32) Handling Drawdowns and Communication (00:16:58) Maintaining Calm and Leadership (00:18:19) The True Story of Carvana's Journey (00:20:36) Navigating Market Challenges (00:23:40) Learning to Say No (00:30:35) Project Management and Accountability (00:34:22) The Importance of Player-Coach Leadership (00:35:53) The Importance of Vertical Integration (00:40:43) Customer Experience and Vertical Integration (00:41:41) Navigating Economic Variables (00:43:52) Building Resilience in Business (00:45:27) Balancing Personal and Professional Life (00:48:57) Efficiency and Growth in Carvana (00:59:02) Insights on Investors and Entrepreneurship (01:02:42) Lessons from Family and Origins of Carvana (01:11:22) The Kindest Thing Anyone Has Done For Ernie

Shoot us a Text.Happy Halloween! It's the last day of the month, and we're tracking how Carvana has managed to continue its used car growth. Plus, we cover how Ford is slowing down its production of the F-150 Lightning and Starbucks getting rid of extra fees for non-dairy milk.Show Notes with links:Shout out to our friends at UVeye! Their AI-driven automated vehicle inspection has earned a spot on TIME's prestigious 2024 Best Inventions list, showcasing innovations that transform daily life.TIME recognized its impact on safety, reliability, and transparency in inspections.Carvana posted a strong Q3 net income, impressing Wall Street despite an 80% decline from last year's figures.Net income hit $148 million, up 208% from Q2 but down from Q3 2023's $741 million.Vehicle sales rose to 108,651, up 34% year-over-year and 7.1% over Q2.Operating income reached a record $337 million, a 602% year-over-year increase.Gross profit per vehicle climbed 25%, supported by reduced costs and faster sales.CEO Ernie Garcia praised the "efficient growth" from Carvana's ADESA network expansion, enhancing cost efficiency and customer experience.Brian Kramer called it a “MONSTER finish” for Q3, crediting the company's disciplined acquisition and inventory management strategies. He attributed the rise in sales and gross profit to more accurate appraisal estimates, quicker sales, and higher margins on consumer-sourced inventory.Ford is pausing F-150 Lightning production for seven weeks, from mid-November to early January, responding to slower-than-expected demand for the electric pickup.Production will stop on Nov. 15, resuming on Jan. 6 after a holiday break, as Ford adjusts to find a better mix for sales growth and profitability.Despite an 86% year-to-date sales increase through September, the Lightning lost its title as the nation's best-selling electric truck to Tesla's Cybertruck.Ford's supply of electric models remains high: a 100-day supply of F-150s, 130 days of the Mustang Mach-E, and 128 days of E-Transit vans as of September, per Cox Automotive.CEO Jim Farley remains optimistic about Ford's long-term EV strategy but acknowledges “the slow uptake of EVs,” emphasizing the company's pivot to more affordable EV platforms in the coming years: “I wouldn't trade [our strategy] for any of our competitors.”Starbucks is giving nondairy milk fans a break by dropping the extra fee for nondairy milk customizations starting Nov. 7.The change coincides with Starbucks' holiday menu launch and customers can now enjoy soy, oat, almond, or coconut milk without added costs.CEO Brian Niccol says the shift supports Starbucks' culture of drink personalization.Nondairy milk customizations are the second-most-popular modification, just after extra espresso shots.Customers could see a 10% pHosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

Are you afraid of awkward conversations with your tenant?  Is there an outstanding rent increase, or late fee, that you just are afraid to bill for?  What about a repair that you are not fixing?  My guest today is Texas Attorney Ernie Garcia, where we discuss the many facets of landlord guilt.  He explains how ignored small issues become very large RAGING issues that can turn into a lawsuit. 

It's Thursday and we're talking about Carvana's best performance ever. We're also discussing Hertz's decision to sell more of it's EV inventory, as well as a wild story about the ongoing dispute around the legendary Delorian. Carvana's latest earnings are signaling a substantial turnaround with a net income of $49 million in Q1, a 17% increase and a significant recovery from a $286 million loss in the same quarter last year. Shares soared by 37% in premarket trading.The Q1 net income of $49 million, marking a major shift from last year's $286 million loss. The figure includes a $75 million gain from stock warrants in Root Inc. Without that, there would have been a $26 million loss posted. Still, the best results in the history of the company. Carvana sold 91,878 used vehicles, an increase of 16% year-over-year, signaling robust demand for its online vehicle retail model.Despite strong sales, inventory shortages continue, with vehicles listed for an average of 13 days on its website before purchase.CFO Mark Jenkins noted that the inventory situation is limiting sales volumes and the company plans to increase production to enhance vehicle selection for customers."This quarter validates our belief in the potential of online retail to drive industry-leading profitability and customer experiences," said CEO Ernie Garcia.Hertz is set to offload 30,000 electric vehicles from its fleet due to "substantial depreciation" and escalating maintenance costs, highlighting broader challenges in the EV rental market.Faced with unexpected high maintenance costs and rapid depreciation, the company plans to sell an additional 10,000 EVs beyond its initial projection of 20,000.Hertz reported a $392 million loss for the first quarter, despite a revenue increase of 2%. Depreciation charges significantly contributed to this financial downturn.Originally, Hertz had committed to purchasing 100,000 Teslas post-pandemic to modernize its fleet, but the financial reality of maintaining and operating EVs has forced a strategy reversal.Kat DeLorean, the daughter of the iconic car's creator, faces a trademark challenge in her quest to build a modern DeLorean, despite another company owning her family's nameWhen creator John DeLorean died, Stephen Wynne, a mechanic heavily involved in the DeLorean brand, secured the DeLorean trademarks in the 1990s from John's disputed widowKat had all but abandoned the vehicle and had a young family and was working as a cybersecurity engineerIn 2020 Ángel Guerra crafted a modern DeLorean model during Covid lockdowns in Spain as a tribute to the iconic DeLorean DMC-12, blending nostalgia with contemporary design elements, the instagram post he made about it blew upHe reached out to Kat, and her wheels started spinning despite having shunned her automotive history as an element that destroyed her childhoodNow, Kat is planning a modern remake of the DeLorean, despite the trademark disputeHosts: Paul J Daly and Kyle MountsierGet the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email

Carvana reported earnings that beat estimates even as buyers are looking for better deals. Vehicle sales were up by 16%. CEO Ernie Garcia III says demand for electric cars is also ramping up. He spoke with Bloomberg's Romaine Bostick and Alix SteelSee omnystudio.com/listener for privacy information.

Amazon announced it will begin selling cars on its site, sending Carvana down 8% at one point; CEO Ernie Garcia joins to discuss why he says increasing online sales helps everybody. Stocks mostly held steady, but remain higher on the week. Vital Knowledge's Adam Crisafulli and UBS Senior US Equity Strategist Nadia Lovell break down the market action. Earnings from Ross Stores, Applied Materials and Gap. Plus, our Deidre Bosa on why Alibaba shares tumbled today. BMO analyst Simeon Siegel on Gap's numbers. KKR Chief Investment Strategist for Global Wealth, Paula Campbell Roberts, on how she is enhancing the traditional 60/40 portfolio for her clients. 

Carvana Chairman and CEO Ernie Garcia says the used-car dealer was in "much better shape" than many believed before the restructuring of its debt, and never neared bankruptcy. He speaks with Bloomberg's Matt MillerSee omnystudio.com/listener for privacy information.

This Wednesday is all about disruption. Not the buzzword kind, but the real kind as we talk about ASOTU's next evolution. We also blow out the candles on Carvana's 10 year birthday cake, as well as give our grocery store magazine review of the soap opera that is the EV transition. Automotive Ventures partnership and what is next for the ASOTUverseCarvana celebrated its 10th birthday yesterday with an ironic stock price of $1 for every year the company has been in business at  $10.04Intense focus on customer experience starting in 2013 led to CVNA being one of the  youngest company ever to debut on the Fortune 500 First vending machine appeared in Nashville in 2015"Ten years ago, when we sold our first car online in Atlanta, Georgia, it was hard to imagine at that time just how far we would come in our first decade. Carvana's core values and our belief in treating people better have led the way towards creating a better car buying and selling experience," said Ernie Garcia, Carvana Founder and CEOAccording to a new study presented by Cox Automotive, in 2022, 81% of shoppers responded that the overall car buying experience was improved by online activitiesAs the EV world turns:According to recent data, every $100 in Tesla revenue turns into $26 in profit which is far greater than its competitors proving a major competitive advantage. Despite the newsmaking antics of CEO Elon Musk and the company's recent stock value reckoning, the value of Tesla still remains greater than Toyota Motor Co., Mercedes-Benz Group AG, Volkswagen AG, BMW AG, General Motors Co., Stellantis NV and Ford Motor Co. combined.The current court case focusing on Elon Musk's $56B pay package heard closing arguments yesterday in a Delaware court. Chancellor Kathaleen McCormick who is presiding over the case called the prosecution's argument “elegant” and a “kill shot” as they attempt to discredit the manner in which the board posed the pay plan to shareholders for a vote. The defense argues that the package was tied to overall performance and shareholders have received over a 10x increase in stock value since the voteMusk told the court that the pay package was a way to help fulfill ambitions for space travel saying "It's a way to get humanity to Mars," he testified in November. "So Tesla can assist in potentially achieving that."A WSJ article is featuring the broad disagreement on how quickly EV adoption will likely occur, “Most car executives agree that the transition to electric vehicles is inevitable. How rapidly to make the switch is a central question, one that is driving divergent strategies.”“We don't want to risk missing the market,” Volvo Get the Daily Push Back email at https://www.asotu.com/ JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/ Read our most recent email at: https://www.asotu.com/media/push-back-email Share your positive dealer stories: https://www.asotu.com/positivity ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

Attorney Ernie Garcia specializes in Landlord Law & Evictions. He helps landlords stay on the right side of the law when it comes to managing their rental properties and handling evictions.He shares great tips for landlords on what to they must know about evictions and managing their properties. Plus he tells some great stories working with landlords and tenants.

We're rounding out the week with Carvana's Q2 performance and integration of ADESA, as well as general retail traffic increasing in shopping malls leading to tenants moving in. We also talk about a substantially more powerful sensor for autonomous vehicle operation. Carvana posts substantial $439M Q2 loss citing high used-vehicle prices, rising interest rates and other macroeconomic pressuresLess than $506M Q1 loss but way less than $45M profit YoYRevenue up 16%, Units up 9% to 117,564Profit per unit down 34%  $5120 to $3368In May, the company said it would dismiss 2,500 employees (12% of team) and top executives would forgo their salaries through end of 2022First half loss this year $945M vs $37M last yearRealized first returns from ADESA integration and CEO Ernie Garcia is “extremely happy with [its] integration progress so far."Embedding market hubs in 18 ADESSA locations and shifting some recon into ADESA locations, closed one recon center in Ohio and opening one in Richmond, VAStock up 13% in pre-market tradingRetailer's continue moving into malls across the countryAccording to the largest Mall Operator in the country Simon Property Group (SPG) retailers are not backing out of deals to open up storestenant occupancy rate is even up year-over-year, currently at 93.9 percent over 2021's 91.8 percent.Better than usual lease terms in cost and term flexibilityOnline stores moving into Brick and Mortar, lux brands moving into suburbs with smaller versions of flagship stores as luxury buyers remain strongFoot traffic is up 1.7 over last year but still below pre-pandemic highsThis year there has been a net increase of 2,478 stores in the U.S., with 4,432 openings and only 1,945 closings, according to Coresight Research as reported by CNBC.New autonomous driving tech can see around cornersNeural Propulsion SystemsAtomicSense PlatformHuman error causes 95% of car accidents The theory is if a system can see and process object from far enough away, they can be eliminatedThis requires a data acquisition and processing rate of 100 terabits per second—that's 10 million times the estimated sensory data rate flowing from your eyes to your brain when you're not drunk or distracted.combo of multiband radar, MIMO lidar, cameras, and "atomic-norm" computingCombines solid-state array consisting of multiple laser emitters and receivers, each focused on a small area able to identify small objects at 540 yardsA bicycle was identified at 1,285 feetProduction anticipated for 2023The current state of the auto industry for beginners - great video to get the broad, retail perspective on the industry if you want to learn or to show family and friends if they are curious.Get the Daily Push Back email at https://www.asotu.com/Rock with us LIVE at ASOTU CON! Tickets: https://www.asotucon.comJOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/Read our most recent email at: https://www.asotu.com/media/push-back-emailShare your positive dealer stories: https://www.asotu.com/positivityASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

Episode 93: Star Wars: Obi-Wan Kenobi (Season 1) (Disney+, Director: Deborah Chow)! Welcome to the SciFi Pubcast! Come for a drink but stay for the speculation. We're talking Star Wars: Obi-Wan Kenobi series with friend of the show, Ernie Garcia. This mini-series on Disney+ is so wizard. So grab an old fashion cocktail! This is the SciFi Pubcast. Episode recorded and released as a podcast on July 3, 2022, and released on YouTube on July 4, 2022.   Show website: www.scifipubcast.space. Find us on Twitter at @ScifiPubcast or send us an email at management@scifipubcast.space. Follow our staff's personal Twitter accounts at: Keri Simpson Derek Beebe Randal Graham Joel Welch Here's the link to Derek Beebe's blog.  Here's the link to Dr. Randal Graham's novel, Beforelife, by ECW Press and the sequel, Afterlife Crisis. Dr. Graham's third novel, Nether Regions, is out September 2022.  Music provided courtesy of Logan Rathbone. The SciFi Pubcast logo is by Jea Rhee. Widescreen photograph (iss065e001065) used for the header on our social meda used courtesy of NASA and the ISS. Listen Responsibly. Copyright 2022 Joel Welch. All rights reserved.

Website: https://www.jerrygarciaministries.org/ Donate: https://www.jerrygarciaministries.org/donate Facebook: https://www.facebook.com/JerryGarciaMinistries

Website: https://www.jerrygarciaministries.org/ Donate: https://www.jerrygarciaministries.org/donate Facebook: https://www.facebook.com/JerryGarciaMinistries

Today we dig into an array of earnings reports from public auto groups, automakers, and retailers. Namely, Lithia, Carvana, and Tesla. We also talk about consumer behaviors driving Netflix's slide as well as Lincoln's understanding of merging hospitality best practices with the automotive experience. Earnings and reports for top players:LithiaQ1 net income more than doubled, up 119%Overall revenue up 54% to 6.7B, a Q1 recordNew and used sales up 23%Avg gross profit per unit on new vehicles more than doubled to $6,179 Avg F&I also increasedAvg cost of new $47,146 (+16%); used $30,323 (+32%) WAS 22,971CarvanaRevenue up 56% YoY to 3.49BNet loss of $506M. Last year was $82M (over 600% more loss)“In a letter to shareholders, Carvana CEO Ernie Garcia and CFO Mark Jenkins called the quarter "challenging."CEO Ernie Garcia (letter to shareholders) "Q1, I would say — it looked like the industry environment was deteriorating throughout," Garcia said during a Wednesday earnings call with investors and analysts. "Disentangling how much of that was affordability, how much of that was just general consumer confidence or interest rates, is very, very hard." “In January 2022, in recognition of Carvana selling its 1 millionth vehicle in Q4, CEO Ernie Garcia committed to giving current employees 23 shares of his personal stock once they reach their two-year employment anniversary, a gift worth over $100 million at the announcement's stock price.” TeslaThe company reported a monster $16.8 billion in automotive revenues, up more than 87% YoY. The company reported $18.76 billion in total revenue, more than a billion over what analysts expected.total profit of more than $5.46 billion, +132% YoY total vehicle production was up 69% (lol, you can't be serious.) 291,189 Model 3 and Model Y vehicles were built in the quarterexpects to reach volume production of a new 'robotaxi' vehicle without a steering wheel or pedals by 2024Netflix loses over a third of its market value (35%) making it the worst performing stock of the year on Nasdaq 100 and S&P 500Q1 net loss of subscribers when investors expected a gain -2M +)35% of Americans cut out a monthly subscription in the past six monthsNew Lincoln Star Concept goes full experiential modeThe mood settings include:Coastal Morning uses gentle, oceanic sounds, a fragrance of sea mist and the soft, warm glow of the sun with dynamic lighting throughout to replicate a stroll on the beach at sunrise.Mindful Vitality is meant to reenergize the senses, with invigorating, upbeat audio, dynamic abstract artwork, soft, glowing lighting and a flowery fragrance throughout.Evening Chill mirrors dusk using a calming night soundtrack coordinated with night sky video and an evergreen fragrance.Get the ASOTU Daily Push Back email at https://www.asotu.com/

After 29 years of incarceration, Ernie Garcia shares his journey from a childhood where violence was the norm toward his ultimate transformation and reintegration with his community. Ernie talks about how his faith played a pivotal role in helping him understand his traumas, take responsibility for his harmful actions, and commit to making things as right as possible. His story is a powerful testament to the inner, spiritual work of restorative justice, and how reliance on God can lead us to break destructive cycles of harm and violence.

The Dow closed up 204 points at a record high, with the S&P notching a seventh straight day of gains, and Jim Cramer is getting you ready for next week's action with his Game Plan. Then, after Carvana reported a mixed quarter, should investors pump the brakes or gas up for future gains? CEO Ernie Garcia stops by and weighs in on the numbers and the company's outlook amidst a used car shortage. Plus, Weyerhaeuser CEO Devin Stockfish.

Carvana CEO Ernie Garcia

My guest today is Ernie Garcia, co-founder and CEO of online used car platform, Carvana. Ernie launched Carvana in 2012, and less than a decade later, the business commands a $60 billion valuation while selling a used car every other minute.   Our conversation covered a lot of ground. We discussed effective decision-making, what it means to be a long-term thinker, and what Ernie sees as the defining features of attractive markets. We then went deep on Carvana itself, covering the original insight, logistics operations, and counter-intuitive decisions Carvana took as they set about building the brand. I think you'll find Ernie's insights and energy infectious. I hope you enjoy this great conversation with Carvana CEO, Ernie Garcia.   For the full show notes, transcript, and links to mentioned content, check out the episode page here. -----   This episode is brought to you by SnackMagic. SnackMagic is the only 100% customizable snack and swag service that allows recipients to build their own snack stash. Whether you want to thank your global team, need goodie bags for your upcoming hybrid event or want to stock your office pantry, the menu of over 1,000 types of snacks and sips covers just about every preference. To learn more and get 10% off your first order with code Patrick at snackmagic.com/patrick.   -----   This episode is brought to you by Vanta. Vanta has built software that makes it easier to get and maintain your SOC 2, HIPAA or ISO 27001 reports at a fraction of the typical cost. Founder's Field Guide listeners can redeem a $1k off coupon at vanta.com/patrick.    -----   Founder's Field Guide is a property of Colossus, Inc. For more episodes of Founder's Field Guide, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @patrick_oshag | @JoinColossus   Show Notes [00:03:10] - [First question] - Defining average decision quality and he weaves it into his business [00:05:40] - How he would assess average decision quality in another company [00:07:04] - What company culture means to him and building it at Carvana [00:08:45] - Key features of a market that is desirable to step into as an entrepreneur [00:10:06] - Various levels of complexity faced in automotive retail [00:13:51] - Reality Has A Surprising Amount Of Detail; The genesis idea that led to Carvana [00:17:52] - Critically new things delivered to customers when buying a used car [00:20:43] - Dealership unit economics vs logistics platform economics and what drives gross profit per unit [00:24:47] - What is an IRC center, the hub and spoke model, and the skeleton of Carvana [00:28:44] - The size and scope of one of their fulfillment centers and cost savings involved [00:30:29] - How the spoke component works and ways it will be improved over time [00:32:39] - Defining what being a long term thinker means to him [00:35:50] - The story behind the Carvana car vending machine [00:39:49] - His thinking on the dual-layer nature of customer experience and communication [00:41:59] - Mistakes and failures made while learning to become good communicators [00:44:21] - Great companies get a lot done very fast [00:48:56] - Infrastructure set in place to maintain their pace as they scale  [00:51:50] - The embedded formula used for teams to communicate what they want to do [00:52:50] - What it felt like as a leader going through the pandemic [00:58:24] - Whether or not COVID-19 has permanently impacted the consumer landscape [01:00:03] - Businesses, leaders, and things he's studied that others could learn from [01:01:55] - Surprising new things arising in the automotive and transport industries [01:05:23] - The kindest thing anyone has ever done for him

Ever since 1955 Fortune has published the Fortune 500 - a list of the country's biggest companies, ranked by revenue. And each year, that list reflects the biggest trends in business. This year, one trend stands above all others: technology is pushing business to new heights. The technology sector pulled in more profits than any other, and its market cap continues to grow. Scott DeCarlo, Fortune's list editor, breaks out some of the most telling stats. Also on today's show, Marc Benioff of Salesforce whose company illustrates the growth trajectory of many Fortune 500 tech companies. Plus, Ernie Garcia the CEO of Carvana whose digital platform for buying and selling cars was a big pandemic winner and landed on the 500 list for the first time.

We sit down to discuss football and other topics

Into the Breach, masculine virtue

Episode 70 - On the Menu: The Technology of Batman! Welcome to the SciFi Pubcast! Come for a drink but stay for the speculation.  We’re talking Batman and his use of technology. Please don’t tell Superman on us. And friend of the show, Ernie Garcia, joins us for this batty discussion. So grab something Bruce Wayne would drink… not Batman so much. This is the SciFi Pubcast.  Music provided courtesy of Logan Rathbone. The SciFi Pubcast logo is by Jea Rhea. Recorded and released as a podcast on September 27, 2020 and on YouTube on September 28, 2020.  Show website: www.scifipubcast.space Contact us: Email Twitter Instagram Facebook Follow our staff's personal Twitter accounts at: Keri Simpson Derek Beebe Ernie Garcia Joel Welch Join our Discord Server! Here's an invite.  Here's the link to Dr. Randal Graham's novel, Beforelife, by ECW Press. And pre-order Randal's upcoming sequel to Beforelife, Afterlife Crisis! Listen Responsibly. Copyright 2020 Joel Welch. All rights reserved.

Every company starts with a story. Usually that story revolves around a person and a problem they are out to solve. Today is no different. When I spent some time with Carvana CEO, Ernie Garcia a while back we saved a good portion of the interview to release after the initial segment.To be honest, I think this is the better part.This is where we talk about the human side of the publicly traded CVNA s founder. We talk about his perspective on why the car business is so tough and why dealers are being forced further into the struggle. Ernie shares his philosophy behind how any good company should develop a new solution. We talk about the moment he knew that solution was really resonating with consumers. Finally, we get into what he want’s his legacy to be and why t-ball is the most exciting thing in his life at the moment.Carvana has been in the news a lot lately regarding their business model and all the stresses and pressure of a publicly traded company are certainly heavy. Don’t we all have our stuff?? Whatever your opinion of Carvana, I hope this episode gets your wheels turning (no pun intended) on what you are doing and where you are heading.Pursue Clarity,Paul. . .Get your copy of my first book at TheAutomotiveManifesto.com. . .pauljdaly.comConnect with Paul J Daly on LinkedInFollow along on InstagramFollow Paul J Daly on TwitterLike Paul J Daly on Facebook

It seems the word "disruption" is thrown around pretty loosely these days. Ernie Garcia legitimately disrupted one of the largest retail industries in the USA. Automotive. Our conversation spans from cars to startup culture to personal legacy. One of my favorite parts of the interview is when I asked him to tell me about the moment when he realized Carvana was going to work. You’ll have to listen for the answer.. . .Upcoming Speaking Appearances:DrivingSales President’s Club: (PROMO CODE: DALYVIP) April 17DMSC: May 19-21. . .pauljdaly.comConnect with Paul J Daly on LinkedInFollow along on InstagramFollow Paul J Daly on TwitterLike Paul J Daly on Facebook. . .DID YOU KNOW that the Clarity Compressed Podcast started as a creative visual production around the book “Like I See It”. We created it independently to give auto dealers an accessible way to engage the book and hopefully spread the timely message to their staff and others in the industry. We hope that YOU will use it in your dealership!It’s engaging.It’s FREE.Its right HERE!

Episode 38 - On the Menu: The Walt Disney Company: A Force for Good in Science Fiction? Welcome to the SciFi Pubcast! Come for a drink but stay for the speculation.  Our topic today is whether the Walt Disney Company has been good for science fiction or not. Yes…. The Mouse. Friend or foe? Ernie Garcia drops by midway and the conversation takes off. Spoiler alert. We’re Disney fans. And what a conversation! So grab a drink, or many drinks. It’s the St. Paddy’s day weekend after all. Éirinn go Brách! This is the SciFi Pubcast. Music provided courtesy of Logan Rathbone. The SciFi Pubcast logo is by Jea Rhea. Recorded and released on March 16, 2019.  Show website: www.scifipubcast.space Contact us: Email Twitter Facebook Follow our personal Twitter accounts at: Keri Simpson Derek Beebe *Randal Graham Ernie Garcia Joel Welch Link to Dr. Randal Graham's novel, Beforelife, by ECW Press. Listen Responsibly. Copyright 2019 Joel Welch. 

On November 18th, 2018, Ernie Garcia spoke with Firas Al Badarin about the recently published article entitled ‘Drivers of radiation dose reduction with myocardial perfusion imaging: A large health system experience’. The authors of this article have provided a PowerPoint file which summarises the contents of the paper and is free for re-use at meetings and presentations: http://bit.ly/2DxkgTu The article is available at: http://bit.ly/2UTq7tf Be sure to subscribe on your mobile device - search 'JNC/ASNC Podcast'.

On November 19th, 2018, Ernie Garcia spoke with Piotr Slomka about the recently published article entitled ‘Analytical quantification of aortic valve 18F-sodium fluoride PET uptake’. The authors of this article have provided a PowerPoint file which summarises the contents of the paper and is free for re-use at meetings and presentations: http://bit.ly/2QGiAQk The article is available at: http://bit.ly/2QA4jEF Be sure to subscribe on your mobile device - search 'JNC/ASNC Podcast'.

On September 18th, 2018, Piotr Slomka and Ernie Garcia discussed Ernie’s recent publication entitled ‘Diagnostic performance of an artificial intelligence-driven cardiac-structured reporting system for myocardial perfusion SPECT imaging’. The authors of this article have provided a PowerPoint file which summarises the contents of the paper and is free for re-use at meetings and presentations: http://bit.ly/2OBxt1K The article is available at: https://rdcu.be/7aV6 Be sure to subscribe on your mobile device - search 'JNC/ASNC Podcast'.

Are you an Introvert, Extrovert or Ambivert and what does it actually all mean? Deanna & Frances discuss the different personality types including their own. Our guest this week is Ernie Garcia who works in higher education and has provided training throughout the state of California  on how to maximize the leadership potential of Introverts. You won't want to miss this episode!  Connect with us! If you are loving the show please subscribe & leave us a lovely review  Instagram:  Our guest: @ErnieGarcia95 @HHumanitariansPodcast Deanna @HilariousHumanitarian & @HumanitarianMom Frances @ShutupSkippy Websites:  www.HilariousHumanitarian.com www.ShutupSkippy.com  Snapchat:  Frances: @ShutupSkippy Youtube: Hilarious Humanitarians Podcast Email us: HHumanitariansPodcast@gmail.com  The Hilarious Humanitarians Podcast is for informational purposes only, does not constitute medical advice, and is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician, mental health professional, or other qualified health provider with any questions you may have regarding a medical condition.

A 100km run through the Arizona desert tests Ernie's limits. Theme music "Storyteller" by Jahzzar. Used by permission under a Creative Commons license. Find more of his music at @jahzzar.