Online auto dealer Carvana Co. said Thursday it would buy used-car auction business ADESA U.S. for $2.2 billion. The deal for the second-largest U.S. physical used-car auction network will help Carvana boost the number of cars it can sell.
Carvana said its retail sales growth flattened late last year. It added that rising short-term interest rates, the impact of the Omicron variant and winter storms would be a drag on the company’s business in the first few months of 2022.
