Carvana is now offering same-day delivery to customers in the Dallas-Fort Worth area.
DFW was one of the first markets to embrace Carvana when the online platform for buying and selling used cars first launched in 2015. Now Carvana is rewarding local customers “with the speedy and convenient service of online purchasing with same-day delivery,” the company said in a news release.
With the launch of same-day delivery, local residents will now be able to receive their vehicle within hours of placing their order, according to the company. Carvana is also offering same-day drop-off to select DFW customers interested in selling their current vehicles.
“For a long time, buying a car meant making trade-offs between convenience, selection, and speed, and now, Carvana has made it just as easy and convenient to order a car online as it is to order groceries,” said Alan Kibler, associate director of finance for Carvana, in a news release.
Kibler continued, “This simple and powerful customer experience is made possible by Carvana’s vertically integrated business model, including our proprietary logistics network, broad and geographically distributed inventory, and our innovative, fast, digitally-native process that cuts transaction time to mere minutes.”
Carvana’s same-day delivery option first launched in Arizona over the summer and has since expanded to Indiana, North Carolina, Georgia, and now DFW. The Tempe, Arizona-based company says it will use the foundation it has already built to expand its footprint to additional markets in the coming months.
During the first week of November, Carvana posted quarterly earnings of $3.4 billion, missing consensus expectations of $3.7 billion during the month.
“Our focus on unit economics over the past several quarters led to Q3 results that clearly validate the differentiation and profitability potential of our business model,” said Ernie Garcia, founder and CEO of Carvana, in the earnings report.
While Carvana’s business has generally struggled over the last year due to rising used vehicle prices and financing costs, easing consumer prices could help boost future sales.
As of the latest CPI report, data shows that the index for used cars and trucks fell 0.8% in October after decreasing 2.5% the month prior. If the trend of falling used vehicle prices continues, Carvana will likely start to see an uptick in demand.