Nine years ago, Carvana set out to build an online auto retail business based on the deeply held belief that people, both customers and team members alike, deserve to be treated better, particularly when it comes to purchasing a new-to-you vehicle. The values born from this inherent belief have fueled and propelled. Carvana’s growth as the second largest automotive retailer in the U.S., not to mention its inclusion as one of the youngest and fastest companies to ever break into the Fortune 500. And following landmark financial quarterly earnings announced earlier this month, it’s clear that Carvana’s growth shows no signs of slowing down, as we now happily serve more than 80% of the U.S. population across more than 300 markets from coast-to-coast.
Lending further credence to this tremendous growth, Hertz and Carvana recently announced a way for customers to save both time and money through online car buying and shopping. The two companies are partnering nationally – following a pilot this past September – to enable Hertz to utilize Carvana’s online transaction technology and logistics network to expand vehicle disposition channels. As a result, Carvana’s technology and logistics network will also allow a more efficient direct-to-consumer sales channel for Hertz.
Carvana pioneered online car buying by building the technology, a new optimized supply chain, and integrating vertically to serve modern customer preferences and deliver the best customer experiences available. And while we take tremendous pride in being the fastest organic growth company of any automotive retailer in U.S. history, we steadfastly believe that our progress to date is a true testament to the size of the opportunity we face, the quality product that we put in front of our customers, the scalability of our model, and most importantly, the caliber of the people we serve and that are within our ranks. And the good news is, we’re just getting started.
