Online used car dealer Carvana has opened its unique car vending machine in Frisco along the Sam Rayburn Tollway at Legacy Drive. The machine is an eight-story building; a glass showcase of vehicles, already purchased by the customer, and delivered for pickup.
The vending machine is Carvana’s fifth and the first to open in North Texas following the construction of machines in Austin, Houston and San Antonio.
Ryan Keeton, Carvana’s Co-Founder and Chief Brand Officer, is in North Texas for the launch of the latest vending machine. “We want to make car buying fun again,” Keeton said. “We enable people to buy a car completely online from searching from vehicles we own, to signing contracts to scheduling delivery. And now, picking up deliveries from this amazing car vending machine. We want to build an experience that people want to come and enjoy.”
Carvana, based in Phoenix, Arizona, was founded in 2013 and has seen a steady increase in sales over the last year. Renaissance Capital reported this week that Carvana booked $365 million in sales in 2016, and has set terms for an IPO that is expected to raise $225 million. According to the Triangle Business Journal, “preliminary numbers for the three months ended March 31 show between 8,250 and 8,350 unit sales, compared to just 3,783 a year ago.”