Car maker GM is taking on used-car tech startups with the launch of CarBravo, a business which helps dealers list their used cars online, the company announced Tuesday.
CarBravo will assist GM dealers in listing both GM and other brands of cars through its site. The site is expected to launch for customers this spring, and enrollment for dealers is currently open.
As the market for used cars heats up, CarBravo faces competition from car tech companies like Carvana, Fair and Vroom. But Steve Carlisle, president of GM North America, told the Wall Street Journal that CarBravo will have a more expansive inventory than its competitors — its total U.S.dealership network reportedly has 400,000 used cars in inventory.
“CarBravo will give customers more choice and access to shop significantly expanded inventories of both the dealer and a national central stock of GM used vehicles," Carlisle said in a statement.
The demand for used vehicles has skyrocketed amid the pandemic, with prices rising nearly 40% between March 2020 and September 2021. The surge is what lead GM to starting CarBravo, Carlisle told WSJ.