Most Read from Bloomberg“This report is inaccurate and intentionally misleading,” a Carvana spokesperson said in an email. Together, the Garcias own more than 80% of Carvana’s voting shares. “We believe that Carvana’s shares are uninvestable and have a far higher chance of being worth zero than the market currently believes,” the report said. Pierce said that regardless of the report, he still thinks Carvana offers a better experience than most used-car dealers and can keep taking share. Garcia II, who lives in Tempe, Arizona, has sold $2.4 billion worth of Carvana since the start of 2024 as the price more than doubled.