Carvana ( NYSE: CVNA ) announced on Tuesday that it will once again be able to sell and buy autos in the state of Illinois.
According to a company statement, online sales and its car vending machine in the state will resume operation following a settlement with the Illinois Secretary of State. The auto retailer’s license to sell autos was originally suspended in early 2022 for violations of Illinois’ vehicle code, Secretary Alexi Giannoulias said.
“The suspension came as a result of a thorough investigation following a series of consumer complaints,” he announced on Tuesday. “As part of the agreement, Carvana admitted wrongdoing and acknowledged that it violated the state’s vehicle code. While the state will allow Carvana to continue to operate, this agreement gives my office the authority to revoke its dealership license again should it fail to comply moving forward.”
Carvana ( CVNA ) shares fell 6.35% on Tuesday.
Read more on the auto seller’s issues in Michigan in 2022 .
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Carvana reaches deal to resume sales in Illinois