• Carvana average gross margin for 2023 was 12.88%, a 13.78% increase from 2022.
• Carvana average gross margin for 2022 was 11.32%, a 25.33% increase from 2021.
• Carvana average gross margin for 2021 was 15.16%, a 11.55% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.