To some franchised dealers, Carvana is a dirty word.
Garcia brings lofty Carvana goals to World Congress
World Congress facts
When: March 24-25
Where: TCF Center
Information: 313-446-0350 or
autonews.com/worldcongressExclusive lead sponsor: PwC
The online used-vehicle seller is a fast-growing competitor going after a part of the business that franchised retailers have increasingly relied on in recent years. And some Carvana customers come away from the purchase experience saying they would never buy from a dealership again.
Carvana CEO Ernie Garcia notes the used-vehicle market is large enough to go around. Roughly 40 million vehicles are sold annually, and the largest player, CarMax, has 2 percent market share. Still, Carvana wants to climb the ranks — Garcia's goal is to sell 2 million used vehicles annually — up from a likely number of 175,000 in 2019.
Garcia could share more on his strategy for getting there when he joins a roster of industry leaders headlining the Automotive News World Congress March 24-25.
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