2019 ALL STAR | DIGITAL RETAIL
As CEO of Carvana, Ernie Garcia, 37, has overseen the company’s growth into a viable automotive retail competitor from Atlanta to Los Angeles.
At the end of the third quarter, the online used-vehicle trading company is offering delivery as soon as the next day in 146 U.S. markets. Last year, Carvana retailed 94,108 used cars and trucks, enough to make it the eighth-largest preowned dealer in the country on Automotive News’ list of the top 100 retailers for used-vehicle sales.
The company has done all of this with relatively few physical assets. Aside from its scattering of 22 vending machines, its focus is purely on doing business online. Despite the lack of traditional overhead, profits have been elusive for Carvana. But investors have mostly given the company a pass as it grows.
If Garcia reaches his stated goal, it will scale up to selling more than 2 million vehicles, which would easily make Carvana the largest preowned auto retailer in the U.S. No time frame has been named for reaching said goal, but Carvana’s volume and top-line growth have showed no sign of slowing.