Carvana Shares 2020 Online Car Buying Insights and Trends in New Report
March 19 2021 - 9:00AM
Business Wire
Leading Online Auto Retailer Details
Acceleration of E-Commerce Adoption in 2020
Carvana (NYSE: CVNA), the second largest used auto retailer in
the U.S. and leading e-commerce platform for buying and selling
used cars, has released its second annual online car buying report.
After an unprecedented year that saw record e-commerce adoption
across the board, Carvana examined hundreds of thousands of
purchases and millions of site visits to identify insights that
made online car buying one of the hottest trends in the U.S. last
year. Hindsight is 20/20, as they say, so Carvana unpacked last
year’s data to find out what is driving shoppers into 2021.
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the full release here:
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Carvana's Online Car Buyer Report for
2020 highlights the most compelling trends and statistics from the
year that automotive e-commerce took off—from sales metrics to
electric vehicle adoption, and much more. (Graphic: Business
Wire)
“Car buyers have been waiting for a safe, transparent, and
effective way to purchase vehicles online, and the events of 2020
only helped accelerate the growth that we were already generating,”
said Ernie Garcia, Carvana founder and CEO. “We’ve examined the
data from more than 244,000 purchases last year, showing some
remarkable trends in online car buying, and how we’re positioned
for more and more consumers choosing to buy their next car
online.”
Highlights from the 2020 report include upticks in electric
vehicle (EV) adoption and growing demand for Teslas in particular.
On average, Teslas sell just 37 days after acquisition—about half
of the time of other vehicles in Carvana’s inventory. The report
also covers last year’s most popular purchases, which include the
Chevrolet Equinox, Honda Civic and Accord, Nissan Rogue, and the
Ford F-150. On the whole, online car buyers are getting faster: one
Carvana vehicle was live on the site for just one minute before the
vehicle was locked for purchase; compared to the average four hours
one might spend at the dealership.
Additional insights and the full 2020 Online Car Buyer Report
can be found at: bit.ly/carbuyerreport
About Carvana (NYSE: CVNA)
Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA)
mission is to change the way people buy cars. By removing the
traditional dealership infrastructure and replacing it with
technology and exceptional customer service, Carvana offers
consumers an intuitive and convenient online car buying and
financing platform. Carvana.com enables consumers to quickly and
easily shop more than 20,000 vehicles, finance, trade-in or sell
their current vehicle to Carvana, sign contracts, and schedule
as-soon-as-next-day delivery or pickup at one of Carvana’s
patented, automated Car Vending Machines.
For further information on Carvana, please visit
www.carvana.com, or connect with us on Facebook, Instagram or
Twitter.
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Carvana Amy O’Hara press@carvana.com
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