Carvana

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Carvana

Business News

Carvana banned from Illinois for second time

SPRINGFIELD -- Online car dealer Carvana has been barred from conducting business in Illinois for a second time. The ban is over continued issues with consumers not receiving vehicle registrations and titles. The office of Secretary of State Jesse White said the company's dealer license was suspended Monday due to car buyers not receiving the titles for their vehicle. A vehicle's title is essential to prove ownership of a vehicle. Otherwise, the car cannot be driven or sold in the […]

todayJuly 21, 2022 38

Carvana

Automotive News

Carvana to lay off 2,500 employees

Executives to forgo 2022 salaries

PHOENIX (UPI) -- Online used car retailer Carvana plans to lay off 2,500 employees, according to a document filed with the U.S. Securities and Exchange Commission on Tuesday. The company made the decision to make the cuts, which represent roughly 12% of its workforce, in response to macroeconomic factors that have "pushed automotive retail into recession," according to the filing. "While Carvana is still growing, our growth is slower than what we originally prepared for in 2022, and we made […]

todayMay 12, 2022 22

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