Carvana to Surpass 1,000 Percent Revenue Growth in First Full Year of Sales

PHOENIX, Oct. 6, 2014 /PRNewswire/ -- Validating consumers' appetite for alternative car buying channels verses traditional brick and mortar dealerships, Carvana (www.carvana.com), the first complete national online auto retailer, is expected to reach $50 million in revenue in 2014. The more than 1,000 percent increase during its first full year of sales can be attributed to its user-friendly online shopping platform, unparalleled customer service and in-market expansion strategy, which now includes free next-day delivery to nearly two million consumers in the southeast.

"It's undeniable that consumers of every generation are frustrated with the antiquated dealership model. While other attempts at online car selling are targeting millennials, we have found that in today's digital world, buyers of all ages want quick and easy transactions where they are confident they are receiving a fair deal," says Ernie Garcia, president of Carvana. "Since our launch, we have been focused on reinventing the car buying experience to offer the most convenient and transparent process available that transcends generations. From our 360-degree photo process, market-price comparison and KBB pricing tools and 7-day test-own return policy, customers can be confident they are receiving a quality vehicle at a great price."

Following the launch of its nationwide delivery capabilities and the opening of its vehicle vending machine in November 2013, Carvana continues to introduce new products and services to ensure it is meeting its customer needs. Its expansion strategy has included the opening of two distribution facilities to offer faster and more affordable delivery options, including free next day delivery to local residents in Nashville and Charlotte. To help keep up with growing demand, the company recently announced it was increasing its workforce by more than 50 percent. 

"The 99 percent of Carvana customers who recommended our company to their friends fuels our desire to push the envelope with new and innovative solutions to give car buyers and sellers the most convenient and transparent experience," adds Garcia.

Carvana's secure, intuitive online shopping platform gives car buyers an alternative to their local dealership by allowing individuals to browse an inventory of Carvana Certified pre-owned vehicles, dynamically set customized financial terms and coordinate delivery method and timing best suited to their needs.  In addition to home delivery, all Carvana customers can elect to pick up their vehicle at the company's car vending machine in Atlanta.

About Carvana
Based in Phoenix and with operations out of the southeast, Carvana is the first complete online auto retailer that allows consumers to shop, finance and purchase a car entirely online, and have it ready for home delivery or pick-up at the nation's first vending machine as soon as the next day. The company is backed by more than $1 billion in revenue and more than 20 years experience in the secondary car market. All cars available on Carvana.com come fully covered with a 100-day or 4,189 mile bumper-to-bumper warranty and a 7-day "test own" return policy.

For further information on the Carvana car buying process, please view a process infographic, like us on Facebook, follow us on Twitter or visit www.carvana.com.

SOURCE Carvana

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