Carvana celebrates the two-year anniversary of its acquisition of ADESA by sharing key milestones that demonstrate the potential of the combination for both businesses and their wholesale and retail customers.

“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:

• Delivering record post-acquisition volume and profitability at ADESA, including more than 240k auction units in Q1 (+25% since first full quarter after acquisition).
• With record volume, driving larger selection for wholesale auction buyers and a larger buyer base and more liquidity for auction sellers.
• Developing and launching proprietary digital auction platform, ADESA Clear, to support wholesale auction buyers and sellers with integrated, value-added tools.
• Consolidating over 55 overlapping market facilities for annualized rent and facilities expense savings of over $30M.
• Routing Carvana wholesale volume directly to ADESA, reducing Carvana’s wholesale inbound miles by more than 60% since Q1 2022.
• Activating Carvana last-mile logistics at 30 ADESA locations, and middle-mile logistics at nine ADESA locations, providing Carvana customers access to faster fulfillment.

Additionally, in April, ADESA Buffalo in New York began operating as a Carvana Inspection and Reconditioning Center (IRC), running reconditioning processes using Carvana’s proprietary CARLI software while continuing to support wholesale auction customers via digital auction. Buffalo represents the first full ADESA site transition and demonstrates the power of the 56-site ADESA network in anchoring not only a robust wholesale auction business but also a growing Carvana retail business.

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.