Stephen McDermott's questions to ACV Auctions Inc (ACVA) leadership • Q3 2024
Question
Stephen McDermott, on behalf of Curtis Nagle, asked about the growth mix between gaining new market share versus increasing wallet share with existing customers, and also questioned the company's long-term strategy regarding autonomous vehicles (AVs).
Answer
CEO George Chamoun explained that growth is driven by both, highlighting significant headroom to grow wallet share, particularly with national dealer groups. Regarding autonomous vehicles, he views them as another future category of used vehicles that will enter the wholesale remarketing cycle, similar to other fleet or commercial assets that ACV is already equipped to handle.