Mississippi Tech Startup Carmigo Hits 4,000 Cars Sold Milestone
Carmigo just sold the 4,000th car on its online used-car marketplace. The Mississippi-based automotive tech startup is poised to continue its exponential growth in the coming year despite an industry-wide market slowdown.
TUPELO, Miss., Feb. 21, 2023 /PRNewswire-PRWeb/ -- Carmigo, a Mississippi-based technology start-up, just sold its 4,000th car.
This milestone comes while other online tech companies in automotive continue to struggle.
"Last year was an exciting ride, seeing the used car market reach stratospheric highs before plummeting back to earth," said Carmigo CEO and Founder Andrew Warmath. "We got to experience that unprecedented growth. But then we were quickly forced to adapt and innovate in order to grow when other companies in our industry were struggling."
Carmigo sold just over 1,000 cars in its first year of operations after launching in January 2021. Now, after only one more year, the Tupelo-based company has quadrupled its sales.
Carmigo's unique approach to business has helped the company weather the storm. Instead of holding inventory like most online used car buyers, Carmigo simply facilitates the transaction, endeavoring to make it easier for both buyer and seller.
"What makes us different is that we're not focused on the sale. We're focused on making the transaction easy and beneficial for both parties," Warmath said. "Coming from a dealership background, we know how hard it is to inspect and stock quality used cars, so we want to bring lot-ready cars to our dealership partners. We also know how hard it can be to sell your car. So Carmigo works to make it easier for everyone by connecting these two needs at scale."
This difference also allows Carmigo to charge a flat buyer and seller fee instead of relying on margins that fluctuate from transaction to transaction.
If you're interested in learning more about Carmigo, visit gocarmigo.com.
Media Contact
Austin Hille, Carmigo, 1 6015000852, [email protected]
SOURCE Carmigo
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