Carvana Reaches Agreement with State of Illinois to Continue Bringing Greater Vehicle Selection, More Convenience and Lower Costs to Residents

Rhea-AI Summary

Carvana, known for its online vehicle sales, has reached an agreement with the Illinois Secretary of State, allowing it to continue operations in the state. This agreement underscores Carvana’s role as a significant economic player in Illinois, providing a unique e-commerce vehicle buying and selling experience, including home delivery and a 7-day money-back guarantee. Alan Hoffman, Head of Corporate Affairs, highlighted the importance of this agreement in enhancing customer access to vehicle transactions. Carvana is listed on NYSE under the symbol CVNA and is recognized as one of America's fastest-growing used automotive retailers.

Positive

• Agreement with Illinois Secretary of State secures Carvana's operational framework in the state.
• Carvana continues to offer innovative e-commerce vehicle buying and selling experiences, enhancing customer convenience.

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• None.

PHOENIX--(BUSINESS WIRE)-- Carvana, a pioneer in the automotive industry, will continue selling and buying vehicles using the Company’s innovative e-commerce platform as well as its iconic car vending machine located in Oak Brook, Illinois under an agreement reached today with the Illinois Secretary of State.

Carvana Reaches Agreement with State of Illinois (Photo: Business Wire)

Upon reaching this agreement, the Company issued the following statement:

“For the past eight years, we have been an economic engine in the state by providing Illinoisans with an unmatched e-commerce experience that includes great selection, home delivery and a 7-day money back guarantee and today’s agreement with the Secretary of State allows us to move forward in our journey to becoming the largest automotive retailer,” said Alan Hoffman, Carvana Head of Corporate Affairs. “We look forward to working with Secretary Giannoulias to ensure customers continue having access to the best car buying and selling experience possible.”

About

Carvana (NYSE: CVNA) is an industry pioneer for buying and selling used vehicles online. As the fastest growing used automotive retailer in U.S. history, its proven, customer-first ecommerce model has positively impacted millions of people's lives through more convenient, accessible and transparent experiences. Carvana.com allows someone to purchase a vehicle from the comfort of their home, completing the entire process online, benefiting from a 7-day money back guarantee, home delivery, nationwide inventory selection and more. Customers also have the option to sell or trade-in their vehicle across all Carvana locations, including its patented Car Vending Machines, in more than 300 U.S. markets. Carvana is one of the four fastest companies to make the Fortune 500 and for more information, please visit www.carvana.com and follow us @Carvana.

Carvana also encourages investors to visit its Investor Relations website as financial and other company information is posted.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230124006057/en/

Kristin Thwaites

Carvana Communications

press@carvana.com

Source: Carvana

FAQ

What is Carvana's latest agreement with the State of Illinois?

Carvana has reached an agreement with the Illinois Secretary of State allowing it to continue its operations in the state, enhancing its e-commerce vehicle buying and selling services.

What benefits does Carvana offer to Illinois customers?

Carvana provides an unmatched e-commerce experience, including home delivery, a 7-day money-back guarantee, and a wide selection of vehicles.

How does Carvana's agreement affect its business?

The agreement with Illinois ensures that Carvana can continue to operate and serve customers in the state, reinforcing its position as a key player in the automotive retail market.

Where is Carvana's iconic car vending machine located?

Carvana's iconic car vending machine is located in Oak Brook, Illinois.

What stock symbol does Carvana trade under?

Carvana trades under the stock symbol CVNA on the NYSE.