I'm not a huge Facebook user, but I haven't shunned the social media platform either. From time to time, I mindlessly open the Facebook app on my phone, scroll for a few moments, then close it.
Last week as I was numbly getting news and updates on the lives of people I rarely see in real life, I also noticed that Carvana wants to buy my car.
This came across my feed after I had just written a story on how Carvana is indeed buying more cars from customers. The company said that it dedicated about $60 million in operating costs to procuring more consumer vehicles in 2019, and most of the money was spent on advertising.
A colleague noted that because I cover Carvana, my online habits could have triggered its advertising algorithm. But I am constantly visiting dealership websites, too, and I have so far never seen a dealership advertise to me on my Facebook feed in this way.
Carvana offering to buy my car (which, incidentally, is not for sale) underscored how competitive things are likely to get for auto retailers looking for prime used-vehicle inventory. Experts already were describing the used-vehicle market as "hot" with "more dealers competing for a finite supply."
Dealers for years have advertised on their websites that they'll buy customer vehicles. And dealerships, of course, have their own presence on Facebook.
But if they're using targeted advertising on the social media platform just to find sales leads, they may want to start looking for vehicle acquisitions there, too. Carvana is.