I do not get it. How can they expand when they have not shown profit?? Something is not adding up. And if they were the pinnacle of modeling today's buyer - I would argue that some of the top auto groups would want in? Even "renting" space from Carvana to house their inventory??
No, nobody likes to buy a used car sight unseen. Carvana is a gimmick. They will never be mainstream. Otherwise, I'd have a better competing site. It made their owners RICH - that's why they are all doing this. Beepi - the guys made over $1 billion. DriveMotors owner is worth $2 billion. People are getting so-so deals on Carvana, shipping is built in, and proves people overpay, even online. They get it home finally, take it for a spin, then feel the shakiness, notice the scratches, see the used brakes with unknown time left, where's that weird smell and so forth. I hope none of you advertise on any of these sites. They are just taking your money.
@Chris, I wonder how long it will last? Dealers need to come back with some funny Ad's "sorry you bought your car sight unseen out of a vending machine? We get you." it would make for some awesome content!
Derrick I was wondering the same darn thing. The CEO must be a heck of a crowd funder because he certainly raised money to expand in the midst of bleeding revenue without an end!
@Amanda, the only thing they bought that seemed exciting was their new 360 camera system. But as Kelly says (and I agree) people still want to see and test drive their vehicle before making the purchase. This gimmick cannot last forever.
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Carvana just expanded into Pittsburgh, is this really the new way to buy cars?