Online Car Buying Trends on Carvana Equity to pay debt Stock Offering - May 2019

Carvana vehicle vending machine.

Carvana, the auto retailer in the U.S. and an e-commerce platform for buying and selling used cars, has released an online car buying analysis. Based on a claimed tens of thousands of purchases and millions of site visits, it’s a look at online car shoppers during 2019.

In the report, some comparisons can be drawn between the traditional car shopper and the online car shopper:

  • Sedans, as an example, were popular with online car buyers in 2019, as well as with Millennials.
  • Online car buyers are also fast. One vehicle on Carvana was live on the site for just 9 minutes before a customer completed the purchase process. This compares to the average three hours one may spend at the dealership.

“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,” said Ernie Garcia, Carvana founder and CEO.

More at Trend Setter: See what made car buyers tick in 2019  


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