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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.

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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.

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Ex-Jaguar design boss creates unique EV for wheelchair users

Autocar

Measuring 4520mm long and 1908mm wide, it takes up about as much road as a Hyundai Tucson but is substantially taller at 1800mm, which, with a unique slimline battery packaged just behind the front seats rather than across the floorplan, allows a much higher ceiling than is allowed in conventional EVs of this size.

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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.

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Inside Chinese brand GAC’s bold plan to storm Australian sales top 10

CarExpert

Aion V “We’ve kept all of our options open, however the one that does stand out to us at the moment is the hybrid agency model,” said Mr Lau, confirming the company wants to have more control over how vehicles are sold to ensure a consistent – and excellent – customer experience.

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NextGear Capital Offers Tips for Independent Dealer Success in 2024

AutoSuccessOnline

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. Stay informed about software options for managing your floorplan. Word of mouth is a gold mine.

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

Full Path

For dealerships, Higher inventories and rising floorplan costs are eating into profit margins, creating a challenging environment for automotive retailers. Solutions for Dealerships Many dealers ask how they can help customers while maintaining profitability. The current market demands agility and the ability to adapt to changes.