Carvana (NYSE:CVNA) Co. operates a technology-driven e-commerce platform for buying and selling used vehicles in the United States. Through its website and mobile apps, the company offers customers the ability to search detailed vehicle listings, view 360-degree photographic tours, and complete transactions entirely online. Carvana’s model eliminates traditional dealership visits by enabling home delivery or pick-up at its automated vehicle vending machines.
Carvana sources inventory from a combination of trade-ins, customer buybacks and wholesale auctions, then transports vehicles to one of its inspection and reconditioning centers. At these facilities, vehicles undergo a multi-point inspection, reconditioning and cosmetic refurbishment before being listed online. This vertically integrated approach allows Carvana to control quality, streamline logistics and offer a seven-day return policy for added consumer confidence.
Founded in 2012 and headquartered in Tempe, Arizona, Carvana was formed as an offshoot of DriveTime’s online retail business. The company completed its initial public offering in April 2017 and has since invested heavily in technology, logistics infrastructure and customer support to expand its footprint. Carvana’s growth has been driven by rising consumer demand for contactless shopping experiences and a shift toward digital automotive retailing.
Today, Carvana serves more than 300 markets across 48 contiguous states, offering transparent pricing, flexible financing through its Carvana Financial Services unit and multiple delivery or pick-up options. By combining data analytics, logistics optimization and an end-to-end digital platform, Carvana aims to simplify the car-buying process and challenge the traditional dealership model.
