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Carvana Marks Second Anniversary of ADESA Acquisition with New Integration and Performance MilestonesCarvana (NYSE: CVNA), an industry pioneer for buying and selling used cars online, celebrates the two-year anniversary of its acquisition of ADESA by sharing key integration milestones that demonstrate the potential of the combination for both businesses and their wholesale and retail customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240509694721/en/ (Photo: Business Wire) "In our first two years, ADESA and Carvana have not only combined our organizations and footprints, but also integrated key operational workflows and technology systems in ways that will power differentiated financial, customer experience, and scalability outcomes for both businesses in the years to come," said Ernie Garcia, Founder and Chief Executive Officer of Carvana. "We are proud of the way the team has come together to drive rapid progress in such a difficult environment and see the encouraging early results of this collaboration as just the beginning of what we can achieve together." Key Integration Milestones
Carvana has also begun the process of converting ADESA Portland in Oregon into a Carvana IRC, unlocking additional reconditioning capacity in the Pacific Northwest, while continuing to support auction customers digitally. Beyond ADESA Portland, Carvana has not shared plans for further site transitions but will continue to evaluate its network relative to the needs and opportunities of the business overall. The company sees significant potential for additional efficiency, customer experience, and scale gains for the wholesale and retail businesses by continuing to integrate Carvana and ADESA operations and technology in the years to come. About Carvana Carvana's mission is to change the way people buy and sell cars. Over the past decade, Carvana has revolutionized automotive retail and delighted millions of customers with an offering that is fun, fast, and fair. With Carvana, customers can choose from tens of thousands of vehicles, get financing, trade-in, and complete a purchase entirely online with the convenience of home delivery or local pick up in over 300 U.S. markets. Carvana's vertically integrated platform is powered by its passionate team, unique national infrastructure, and purpose-built technology. Carvana is a Fortune 500 company and is proud to be recognized by Forbes as one of America's Best Employers. For more information, please visit www.carvana.com. About ADESA ADESA is a leader in the wholesale auto auction industry, serving customers both online and at its 56 locations nationwide. Handling every aspect of the used vehicle lifecycle, ADESA offers solutions that enable its OEM, financial institution, fleet and dealer customers to maximize ROI. ADESA is the second largest used vehicle physical auction business in the U.S. and is owned by Carvana (NYSE: CVNA), the industry pioneer for buying and selling used vehicles online. Learn more about ADESA here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509694721/en/ |