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Claire Yubin Oh & David Crowther

After an insane ride, Carvana is finally back on top — now Amazon is muscling further into its territory

Whatever industry you’re in, whether it’s beauty or electronics, toys or groceries, there’s one phrase you never want to hear: Amazon is getting into your line of business.

So, on Wednesday, when car rental company Hertz announced that it will be selling its cars through Amazon’s automotive retail platform Amazon Autos in selected cities, it’s no surprise that investors touched the brakes on online used car retailer Carvana, which dipped ~2% the day after the news broke.

For Hertz, which changes some 80% of its core rental fleet in the US within a year, the deal is a way to find extra buyers for its 500,000-plus fleet of used vehicles. Now, sites like Carvana will have to compete against the Amazon network for Hertz’s supply.

Speed bumps

Known for its car vending machines, Carvana has more than a few scars from its time as a public company. Technically, anyone who backed Carvana since its IPO has been rewarded handsomely — but the journey’s been anything but smooth.

Carvana journey
Sherwood News

From a pandemic boom — when everyone wanted to invest in the “Amazon of cars” — to nearly going bankrupt in 2022, to raking in a better-than-expected record $4.8 billion in revenue in the latest quarter, Carvana is keeping the roller-coaster stock analogy alive. After an ill-timed, debt-heavy acquisition, the company nearly buckled under the pressure of higher interest rates, as sales started to go backward and costs mounted.

Since then, CVNA has rebounded a whopping 9,000% as it trimmed costs and slowly returned to growth, finally clawing its way to a fresh stock market high... Enter Amazon.

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1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

Max Knoblauch12h
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Max Knoblauch

GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Claire Yubin Oh
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How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

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With gas prices soaring, the humble sedan is making a comeback

Recent US sales data reveals a “sedanaissance” among major automakers like Honda, Hyundai, and Toyota.

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6/3/26
McDonald’s has a new strategy: Make its stores “easier to run”

Franchised and affiliated locations already make up over 95% of McDonald’s store count and 62% of its sales.

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