Getting dealers on board for the electric vehicle transition has been tough. Profitability problems, the reduced need for service (something dealers depend on), and the lack of knowledge on the parts of dealers and salespersons
The company grew fast, and took a lot of ground over the last few years. Instead of setting up shop on a neglected street that tends to be home to other used car dealers, Carvana did things the Silicon Valley way. They set up shop with big glass towers, which acted like vending machines for cars. These expensive structures put the cars literally in the buyer’s eye as they drove by instead of putting them in ads or on billboards.
This low-friction online buying experience made the company a ton of money during the pandemic. With people stuck at home and businesses closed, Carvana was one of the few companies not caught flat-footed. It was literally ready from day one of the pandemic lockdowns to keep selling cars, while everyone else scrambled to come up with ways to still reach customers and complete sales. This alone created a lot of wealth for the company’s owners.
But that which goes up has to eventually come down . Carvana’s expansion didn’t give them the ability to cover all of the needs of buyers, especially when dealing with things like registrations and titling during the pandemic. This sowed the seeds of dissatisfaction, with some cars sitting in a customer’s driveway unable to legally drive.
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