DENVER — Despite reports of bankruptcy worries, Carvana, the used car retailer known for its car vending machine locations, has announced plans to open its Denver location in the new year.
Contact Denver7 has exposed repeated customer service concerns about delayed titles and undisclosed damage. Following our reports, the state met with the company earlier this year to address "systemic issues."
In recent months, the company has faced a number of financial challenges, including falling used car prices and rising interest rates. As a result, Carvana announced last month that it would be cutting 1,500 jobs. In the past week, its stock price has plummeted by more than 40 percent.
The company has downplayed concerns about its finances, saying it is looking to the future.
Meanwhile, the car vending machine location recently constructed in Denver has remained empty for months.
A notice on the door refers to "serious" safety violations during construction. However, a Colorado Department of Labor and Employment spokesperson told Contact Denver7 those issues have since been resolved.
In a statement to the Contact Denver7, a Carvana spokesperson wrote, "We're excited about opening this Denver Car Vending Machine location, and are working with Denver to finalize one remaining permit and get approvals from the City before we officially open in the new year. We're proud to have sold tens of thousands of vehicles to Colorado customers, and customers can continue to purchase a vehicle from the comfort of their home, completing the entire process online, benefiting from our 7-day money back guarantee, home delivery, and nationwide inventory selection, also with the option to sell or trade-in their vehicle across all of our locations."
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