Despite record-low inventories across the board, Carvana has been doing good this year. Profits are up even though there’s fewer vehicles to sell. But those sales have been dealt a blow, as The Wall Street Journal reports that North Carolina’s DMV has banned the company from selling cars in Wake County, which is the most populous county in the Carolinas as well as the home of Raleigh.
The issue stems from complaints alleging Carvana wasn’t issuing vehicle registrations and was skirting mandatory state inspections. Both of these are in violation of the state’s dealer licensing.
Read Article