Carvana, CarMax should be in the driver’s seat as used car shortages persist (NYSE:CVNA)

Companies that aren’t making money from used cars are doing something very wrong.

Used car sales and prices surged during the pandemic as new vehicle production fell with the Covid-induced supply chain disruptions. But while those problems have eased, the number of new cars being produced continues to lag demand.

Industry analysts expect an estimated 10 million to 12 million fewer cars will be produced in the five-year period between 2020 and 2025 compared to…