Carvana, which launched in January 2013 at the High Museum of Art, now operates several logistics hubs and an inspection center in Georgia. It opened a 12-story Car Vending Machine, the tallest in the U.S., in November 2020 in Midtown.
“Atlanta was the first market where we sold 1,000 cars in one month and is still our largest even though we’ve sold more than one million vehicles to date,” said Chief Executive Ernie Garcia. “Now more than ever, we remain committed to our continued expansion within the region.”
The company’s expansion was announced as Georgia positions itself as an automotive center.
Electric vehicle manufacturer Rivian in December announced it will build a $5 billion manufacturing facility about an hour’s drive east of Atlanta that will employ at least 7,500 people. Porsche and Mercedes-Benz recently relocated their U.S. headquarters to metro Atlanta.
Carvana said in a November letter to shareholders it was “hard at work unlocking additional capacity” because it’s buying and selling more than three times as many cars as it was two years ago.
The company has benefited from a surge in used-car prices after the pandemic curtailed new vehicle production. Used-car prices were 40.5% higher in January from a year earlier, according to the Department of Labor. Automotive factories haven’t been able to keep up with demand because of shortages for key parts including semiconductor chips.
But rivals increasingly are eyeing the lucrative used-car market. General Motors announced last month it would begin selling used cars online, joining CarMax, Vroom and other secondhand sellers. And some states are investigating complaints from consumers who say Carvana has been slow to process titles needed to transfer ownership and register vehicles.
Carvana in September finalized plans to sublease more than 550,000 square feet in State Farm’s office complex in Dunwoody, vastly expanding the firm’s footprint in metro Atlanta.
Katie Kirkpatrick, the chief executive of the Metro Atlanta Chamber, said a “customer experience center” headquarters is planned for the hub.
“Carvana will benefit from our large, skilled, and diverse workforce fueled by our universities as well as people moving to our region from all over the world,” she said.