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Carvana posts record Q2 sales as used-car demand continues to outpace new vehicles
['Jaelyn Campbell']
CBT News
Carvana’s expansion into Stellantis dealerships signals continued disruption in both the used- and new-vehicle retail markets.
Dealers should monitor inventory, pricing and digital retail strategies as online competition accelerates.
CEO Ernie Garcia III attributed the company’s attractive online, no-haggle purchasing experience to its ability to draw in new customers.
Additionally, Carvana has expanded into new-vehicle retailing by acquiring Stellantis dealerships and introducing a new digital retail format for Stellantis brands.
Why it mattersFor dealers, ongoing affordability challenges are benefiting used-vehicle retailers and reinforcing the demand for pre-owned inventory.