Carvana CEO and Chairman Ernie Garcia III expects coronavirus stimulus checks being distributed by the federal government to improve U.S. vehicle sales.
The checks are worth $1,200 for individuals with adjusted gross income below $75,000 and $2,400 for couples earning below $150,000. They are part of the Trump administration's $2.2 trillion stimulus bill passed to aid Americans suffering financially as a result of theCarvana, an Arizona-based used car company, largely sells vehicles online and delivers them to the customer. It also operates 24 patented, automated car vending machines.
"We've held up significantly better than that, but there's no doubt this has had a big impact across the board, across our industry and other industries as well," he said.
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