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This statistic highlights Carvana’s Number of Retail Vehicle Sales from Q1 2016 onwards, split between used vehicles and wholesale vehicles.
Consumers can probe and identify a vehicle, scrutinize it using our patented 360- degree vehicle imaging technology, acquire financing and warranty content, buy the vehicle, and schedule delivery or pick-up, all from their desktop or mobile devices. Alternately, a customer can gain an establishment offer online for their vehicle by answering many questions without demanding to provide photos or service records.
The number of used vehicles we sell depends on the volume of traffic to their website, their number of markets, their stock selection, the effectiveness of their branding and marketing sweats, the quality of their customer’s purchase experience, their volume of referrals and repeat customers, the competitiveness of their pricing, competition from other used car dealerships and general economic conditions.
|Category||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
The total sales have shown an increase of 82,364, from 79,789 in Q3 2020 to 162,153 in Q3 2021 almost an increment of about 103.22% on a YOY basis. Moreover, for the latest quarter in 2022, 69% of the total sales have been done by used vehicles.
The Company primarily acquires its used vehicle stock directly from customers when they trade-in or sell their vehicles and through the large and liquid public used-car auction market. Carvana offers all clients a nationally pooled stock of over high-quality used vehicles on their website.
They estimate all of the vehicles that they hold and offer for trade using their 150- point “Carvana Certified” examination process. Customer investigation indicates that size and range of selection are primary determinants of where customers will negotiate. The Company uses proprietary algorithms to optimize its stock accession based on enormously used vehicle market and customer behavior data.
The majority of the sales are from the sales of used vehicles marking a contribution of 69%. There has been a significant increase in the sales of used vehicles marking a growth of 73% on a YOY basis from 64,414 in Q3 2020 to 111,949 in Q3 2021. It also grew by 3.83% on a QOQ basis.
Wholesale deals include transactions of trade-ins and other vehicles acquired from customers that don’t meet the conditions for their retail force. Noncommercial vehicle trades are equal to the total proceeds the company receives on vehicles retailed to wholesalers. The vehicles they put up to wholesalers are primarily acquired from customers who sell a vehicle to them without buying a retail vehicle and from the customers who trade in their existing vehicles when taken from them.
Factors affecting noncommercial vehicle deals include the number of wholesale units sold and the average wholesale selling price of these vehicles. The average selling price of their noncommercial units is primarily driven by the mixture of vehicles they deal with wholesalers, as well as general inventory and demand conditions in the applicable noncommercial vehicle market, both of which have been impacted by COVID-19.
It has contributed nearly about 31% to the total sales of the company. Sales have an increase of 34,829 from 15,735 in Q3 2020 to 50,204 in Q3 2021 on a YOY basis. It also grew by 6.69% on a QOQ basis with an increase in the number of vehicles sold from 47,052 in Q1 2021 to 50,204 in Q3 2021.
About the company
Carvana is an online accustomed car retailer based in Tempe, Arizona. The company is the speedily- growing online used auto dealer in the United States and is known for its multi-story auto dealing machines. Carvana was lately named to the 2021 Fortune 500 List, one of the youngest companies to be added to the list. Carvana Co. is a holding company that was formed as a Delaware corporation on November 29, 2016, to complete a first public offering (“IPO”) and related sales to operate the business of Carvana Group, LLC and its subsidiaries
. They’re converting the used car buying and selling experience by giving consumers what they want — a wide selection, great value and quality, transparent pricing, and a simple, no- pressure sale. Each element of their business, from force procurement to fulfillment and overall ease of the online sale, has been erected for this singular purpose.
Carvana enables you to browse, finance, trade-in, or vend your vehicle online and from the comfort of home without ever visiting a dealership or dealing with a salesman.
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