DETROIT -- Online used-vehicle retailer Carvana Co. is opening up shop in the Motor City.
Carvana said Wednesday that it would begin selling its inventory of more than 7,000 vehicles in the Detroit area effective immediately.
The Phoenix company, which delivers vehicles directly to customers who purchase through its website, now operates in 32 U.S. markets, most of them in the East and South.
Carvana is known for its unique auto vending machine dealerships, but there are no current plans for a physical location in the Detroit area. After buying, online customers can either have their car delivered to them, or they can travel to one of the vending machines and drive back home with the vehicle.
The Detroit market opening is part of a larger push by Carvana to expand nationwide. The company said in a June regulatory filing that it anticipates operating in 37 to 39 markets by the end of the year, up from 11 in early 2016.
To mark its entrance into the Detroit market, Carvana said it would hold an event Saturday at Hart Plaza downtown to allow "residents to take back their Saturday from the dealership." The event, which runs 3 p.m. to 7 p.m., will feature treats, giveaways and music, according to a news release.
"Detroit loves cars, and so do we, so we're excited to be a part of the community and give residents their Saturdays back," Carvana CEO Ernie Garcia said in the statement. "Making our Michigan debut -- and 32nd market launch -- in the Motor City felt right."
Carvana filed an initial public offering on April 27 and submitted its first quarterly earnings report to federal regulators last month. According to the filing, Carvana lost $38.4 million in the quarter ended March 31, a loss the company blamed on expansion-related costs.
Carvana's share price has more than doubled since the earnings report was released.