Carvana releases online car-buying trends
Carvana (NYSE: CVNA), the fastest-growing auto retailer in the U.S. and the leading e-commerce platform for buying and selling used cars, has released the first-ever online car buying analysis in the industry. Examining tens of thousands of purchases and millions of site visits, Carvana is popping the hood and taking a closer look at what made online car shoppers tick in 2019.
“As the first online-only used car retailer, Carvana is uniquely positioned to showcase what online car shoppers are looking at, what they’re purchasing and what’s important to them,” said Ernie Garcia, Carvana founder and CEO. “We’ve amassed a wealth of data from the 177,549 cars we sold online in 2019, providing valuable insights for our industry-first report of online car buying.”
In the trends report, a number of comparisons can be drawn between the traditional car shopper and the online car shopper. Sedans, for example, were popular with online car buyers in 2019, as well as with Millennials. Online car buyers are also speedy: one vehicle on Carvana was live on the site for just 9 minutes before a customer snatched it up and completed the purchase process; compared to the average three hours one may spend at the dealership.
Additional insights and the full infographic can be downloaded from the Carvana blog: https://blog.carvana.com/
About Carvana (NYSE: CVNA)
Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 25,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.
For further information on Carvana, please visit www.carvana.com.