Remove Automotive Remove Customer Remove Floorplan
article thumbnail

Vroom Used Car Retailer Announces End to Ecommerce Operations, Liquidating Inventory

Automotive Addicts

Vroom’s move comes as a response to challenges in securing additional capital for its operations, particularly in extending the vehicle floorplan facility beyond its current expiration date of March 31, 2024. Both entities will continue to serve their third-party customers and focus on growth in their respective domains.

Retail 110
article thumbnail

Vroom Goes Bust: Online Used Car Giant Stops Sales, Lays Off 90% Of Staff

Carscoops

Customers who have already signed a contract to buy or sell a vehicle should reach out to Vroom’s support team at (855)-524-1300. Vroom intends to expand this segment of its business to cater to third-party customers. What remaining vehicle inventory it has left, it plans to sell through wholesale channels.

Floorplan 122
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

BendPak Improves Two-Post Parking Lift 

AutoSuccessOnline

Designed to be ganged together via shared columns to fit more lifts in less space, it delivers unmatched versatility and convenience for automobile dealers, automotive shops, commercial parking operators and car collectors.

article thumbnail

Lane watch: The numbers battle involving full-size pickups

Auto Remarketing

Sending a full-size truck to auction appears to be as much of a heartburn-triggering situation for franchised dealers as seeing that new model sitting in inventory and on the store floorplan for 100 days or more. Data from Black Book, Cox Automotive and J.D.

article thumbnail

The $740 Challenge: How Savvy Dealerships Are Turning the Tables

Full Path

In today’s automotive landscape, consumers and dealerships are caught in a complex web of economic pressures. Explore 2024 automotive market and leasing trends, with strategies for dealerships to navigate economic pressures and boost profitability. Yet, beneath these positive indicators lies a deeper issue. record set in Q4 2023.

article thumbnail

NextGear Capital Offers Tips for Independent Dealer Success in 2024

AutoSuccessOnline

Cox Automotive expects small gains in the used-vehicle market, despite limited availability. You are being evaluated just the same as you assess your customers. Be aware of how much credit you have — especially if you have multiple floorplan lenders — and stay away from hard money lenders who drain a dealer’s cash flow daily.

article thumbnail

Micro-leases, subscriptions, long-term rentals, whatever you call it, will it become a third ‘sales’ channel?

Auto Remarketing

I was listening to a panel discussion with some very esteemed automotive economists recently, and in discussing the prospects of electric vehicle sales growth in the United States, a shocking, though true, fact was agreed to by all. automotive retailers. A long time ago, an automotive retailer sold vehicles. First, the research.

Term 52