Carvana cuts costs, boosts satisfaction through innovative technology solutions.

TLDR:

• Carvana is using technological solutions to reduce costs and improve customer satisfaction.
• New innovations like CARLI technology and sophisticated bidding algorithms are optimizing processes.

Technological solutions are driving cost reductions and higher customer satisfaction at Carvana. The used car retailer has implemented new innovations like CARLI technology and sophisticated bidding algorithms to streamline processes. This has resulted in a more than $900 step-down in non-vehicle retail cost of sales since their peak over a year ago.

Carvana enables potential sellers to offer their cars and complete deals from their desktop or mobile devices, making the process more convenient for customers. Proprietary CARLI technology streamlines inspection processes for used vehicles, while technology is also used to route and schedule deliveries, minimizing distance traveled and maximizing delivery asset usage.

Carvana Chief Financial Officer Mark Jenkins highlighted the importance of pairing technology with process excellence in various areas of the business. With continued focus on leveraging technology for optimization, Carvana is aiming to further reduce costs and enhance customer satisfaction.