man in car showroom Consumer preferences are moving toward digital experiences in the online car marketplace, and Carvana and CarGurus are leveraging technology and artificial intelligence ( AI ) to improve the buying process. Both companies reported strong performances in 2024, using digital tools to optimize customer engagement and refine their business models, though each has faced distinct challenges along the way. Carvana’s Strategic Growth Drivers and AI Investment Carvana recorded a 33% year-over-year increase in retail units sold (416,348) and saw its revenue rise 27%, to $13.67 billion. According to the company’s Q4 shareholder letter , Carvana has three main growth drivers: continuously improving its customer offering; increasing awareness, understanding and trust of the brand; and increasing inventory selection and other benefits of scale. “The pieces are all in place,” the letter says. “We are a team that knows how to build. We have an offering customers love. We have a uniquely profitable and highly scalable business model. And we have already built, acquired, and invested in the most complex and expensive parts of the infrastructure necessary to be many multiples larger than we are today. We achieved the numbers above with just 1% market share. We are […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
