Comment on Carvana’s CEO is optimistic about the used car market. Here’s why

Carvana’s CEO is optimistic about the used car market. Here’s why

So far the company has sold about 2 million vehicles, with sales now running at a rate of 400,000 per year. Since it started selling cars in 2013, Carvana has disrupted the U.S. used vehicle market with no-haggle pricing and an online buying process that cuts out the often-dreaded salesman.The Tempe, Arizona, company took advantage of many buyers’ fear of negotiating with a dealer, letting them purchase vehicles via computer and have them delivered to their homes.CEO and cofounder Ernie Garcia says the company has lower costs than conventional dealerships because it doesn’t have expensive real estate across the nation.

 

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