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GM challenges Carvana with CarBravo online used car marketplace -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A new GM logo can be seen on the Detroit General Motors headquarters, Michigan, U.S.A, March 16, 2021. REUTERS/Rebecca Cook/File Photo

Joseph White

DETROIT, Reuters – General Motors Co. (NYSE:) announced it would launch a new online market for used vehicles called CarBravo. This will enable the automaker to compete with its dealers. Carvana Co (NYSE :), Carmax Inc. and other companies that make a profit selling used vehicles.

GM’s CarBravo will allow dealers to combine their vehicles, including those owned by Chevrolet and Buick as well as trucks and cars that GM’s consumer financing arm has taken back from vehicle leasing agencies. GM representatives stated that the dealer stock holds about 400,000 pre-owned vehicles.

GM stated that CarBravo will be launched to consumers by GM in the spring.

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