Digital upstarts — launched by retailers, automakers, traditional wholesalers and a host of retail technology companies — continue to pour into the used-vehicle market and are poised to further fragment a business that once mainly ran through traditional auctions.
While consumers and dealers were using digital platforms to buy and sell used cars before the pandemic, the use of such options has skyrocketed in the era of COVID-19.
Consumers can go to used-vehicle retailers such as CarMax and Carvana to buy or sell a vehicle online or select from growing options offered by traditional wholesalers such as Manheim and KAR Global or vehicle listings sites CarGurus or Cars.com. Soon they'll be able to try out CarBravo, General Motors' new platform.