Used vehicle marketplace KAR Global has now sold all of its ADESA U.S. physical auction business to Carvana. KAR will continue to operate its online auction portal Openlane.
Carvana’s Ernie Garcia and Parkmyfleet CIO Kristin Slanina will bring their latest insights for consignors and auctions at the International Automotive Remarketers Alliance annual Summer Roundtable.
KAR will shed debt and can concentrate on digital sales, while Carvana gains access to more cars and dealer relationships. But questions remain.
The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
Carvana has launched next-day vehicle delivery to Hanford, Calif. residents.
The new location, located in Ontario, Calif., stands eight stories tall and holds 27 vehicles.
The vending machine, which will stand eight stories high and hold 30 vehicles, will be located in the Westminster, Calif., a city roughly 30 miles south of Los Angeles.
The Kansas City vending machine marks the first vending machine in Missouri and the 18th machine in the U.S.
Digital disruptor Carvana was the nation’s eighth-largest seller of pre-owned vehicles in 2018, according to the latest Automotive News rankings of the Top 100 Used Retailers.
The Bank of America digital car shopping and financing platform will now add more than 15,000 Carvana vehicles to its existing inventory of both new and used vehicles.
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