DIGEST – Synthetic engine said it will launch a new online used-car marketplace called CarBravo that will allow automakers and agency challenge Carvana, Carmax and others to make money from selling used cars.
GM’s The CarBravo page will aggregate vehicles owned by Chevrolet, Buick and GMC dealers, as well as automobiles and vans GM Financial, the automaker’s consumer finance arm, takes control after bringing them back rental car agency or vehicle rental contract. GM officials say the company’s dealers have about 400,000 used vehicles in stock.
GM says CarBravo will launch to consumers this spring.
About 40 million used cars are sold annually in the United States, more than double the number new car and trucks. Automakers are stripped of most of the profits from that sale, as well as customer information and the opportunity to sell recurring revenue services like satellite radio subscriptions.
Online old car Carvana’s market, with a market value of $34 billion, fills the e-commerce space left open by automakers and most brick-and-mortar dealers, giving consumers a way to buy Shop a wide range of used cars from many brands and have them delivered to your home. Now, GM is joining auto retail chains like AutoNation in setting up online used-car marketplaces to counter Carvana, whose shares have fallen nearly 50% from their peak. in 52 weeks.
Steve Carlisle, GM’s head of North American operations, said Tuesday that CarBravo is able to outsell Carvana because of the supply of vehicles that GM and its dealers control.
“We think we can go up against anyone else out there pretty well,” Carlisle said.
“CarBravo will offer customers more choice and access to a significantly expanded inventory of both GM’s dealerships and national central used vehicle warehouse. Importantly, Program features will also be offered on non-GM used vehicles,” Carlisle said in a statement. , “CarBravo was designed to give customers the convenience to shop the way they want, where they want – online, at agency or both.”
Selling used vehicles through CarBravo, Carlisle said, will allow GM to better control resale prices for past rentals and rentals, while also generating revenue from subscriptions to the service. Onstar concierge, satellite radio and other services.
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