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

Carscoops

In a release, the company said that it will wind down its used car sales department to maximize shareholder value through its other businesses. 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.

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

CarExpert

GAC GS8 He says this would work out to be around 30-40,000 annual sales, though notably the 10th best-selling brand in Australia last year – Isuzu Ute – sold 45,341 vehicles. This target encompasses sales across both the GAC and Aion brands. “In reality, we want to be in the top 10 within the next three to five years.”

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BendPak Improves Two-Post Parking Lift 

AutoSuccessOnline

We listened to customers and made our existing space-saving lift more versatile by engineering a wider platform that lets operators open vehicle doors wider to make it easier get in and out, says Sean Price, BendPak director of sales operations.

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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. So, are things “normal” in the used-car world now?

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

Full Path

New sales surged 14% over the past week, while used sales saw an 8% increase, partially offsetting June’s downturn. For dealerships, Higher inventories and rising floorplan costs are eating into profit margins, creating a challenging environment for automotive retailers.

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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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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. And developments suggest that a larger presence in U.S. dealerships will be coming soon. automotive retailers.

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