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Earlier this week: Tesla broke ground on its brand new lithium refinery, Group 1 buys three stores, and more auto industry news headlines.

Weekly roundup: Carvana’s Q1 results, Tesla’s new lithium refinery, Group 1...

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Earlier this week: Tesla CEO Elon Musk was joined by Texas Governor Greg Abbott during a ground-breaking ceremony for a brand new lithium refinery,...
Carvana

Carvana beats expectations in Q1, narrows losses in bid for profitable...

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Used car retailer Carvana has released its first-quarter earnings report and revealed a quarterly loss of $1.51 per share, resulting in an earnings surprise of...
debt plan Carvana

Carvana announces new debt plan and Q1 loss estimate

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On Wednesday, Carvana released an early loss estimate with its first quarter guidance, and shared a new debt plan which would significantly reduce its...
new restrictions

Carvana to continue operations in Illinois, but not without new restrictions

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Illinois and Carvana have reached an agreement that will allow it to continue its business in the state with new restrictions, after an investigation...
hostile takeover

Carvana takes defensive strategy, hopes to prevent hostile takeover

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Carvana has resorted to using the "poison pill" strategy to prevent a hostile takeover before it can resolve its financial problems. The "poison pill" refers...
Carvana Michigan license

Settlement between Carvana & Michigan leaves used car retailer without a...

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Carvana claimed on Jan. 11 that it’s “back to business as usual." However, Michigan state regulators disagree, stating that the company’s Novi site is...
CarMax

CarMax joins Carvana in 2022 used vehicle woes as profits fall...

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CarMax has announced cuts to hiring and stock buybacks in an effort to recoup from a devastating third quarter. The company suffered an 86% profit...

Citigroup shows tentative support for auto-retailer Carvana

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As analysts struggle to predict the future of the auto-retailer, Citigroup has labeled Carvana's stock as "neutral." The brand saw massive profits in 2021 as...
debt, auto-retailer

Carvana seeking financial advice to manage billions in debt

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Carvana is seeking financial advice after a difficult year of stock crashes, sputtering demand and high debt. In 2020 the retail company witnessed a record...
Carvana

Carvana stock in need of cash infusion, BofA reports

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According to Bank of America, the future of Carvana’s stock could go one of two ways. The online retailer is in need of more...