Used Car Dealer Carvana Expands To NYC - Now At $2200 Per Vehicle Profit Accross Their Board
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New York, September 20, 2018; Carvana just started selling and delivering cars in the Big Apple, the 78th U.S. city in its budding digital dealership. The first machines to ship will be packaged on delivery trucks in oversize takeout bags, which makes for great marketing (just picture all the soup dumplings that could fit in one of those).
Carvana is selling about 250 vehicles a day and posting a profit of almost $2,200 per vehicle. It has about 11,000 machines listed on its platform, and roughly 1 in 5 customers begin and close their car purchase on a smartphone.
“We’re presenting a new way to do something—the second-biggest purchase in a person’s life,” said Carvana co-founder Ryan Keeton. “It’s just like Amazon—the best experience, the best product, the best price.”
The New York expansion won’t upend the world of Manhattan car buyers or even Carvana investors, but it does represent a tipping point in the $1 trillion business of buying and selling cars in America. Armed with internet reviews and pricing minutiae, consumers are finally opting en masse to negotiate and buy their rides online, without ever kicking a tire or taking a test drive.