Carscoops

JANUARY 23, 2024

“As we previously disclosed, we intended to raise additional capital to fund our operations and support the extension of our vehicle floorplan facility beyond its current expiration date of March 31, 2024,” said Thomas Shortt, Vroom’s CEO.

Floorplan 122

Floorplan Retail Sales Finance 122

Automotive Addicts

JANUARY 22, 2024

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. Despite concerted efforts, the company faced difficulties raising the necessary capital in the current market environment.

Retail 110

Retail Floorplan Finance Automotive 110

Drive.com

JULY 28, 2024

“The danger is that you get some brands that force this onto the dealer and then, if the market turns on them, they get stuck with cars and they have to finance them. That would leave dealers paying significant floorplan interest costs. Whether it’s deliberate or not, everybody’s got to hit targets,” he told us.

Floorplan 76

Floorplan Manufacturing Networking Finance 76

Full Path

JULY 30, 2024

For dealerships, Higher inventories and rising floorplan costs are eating into profit margins, creating a challenging environment for automotive retailers. Leasing helps consumers manage their finances better and offers a viable solution for dealerships struggling with high inventory levels.

Floorplan 52

Floorplan Down Payment Dealerships Insurance 52

Canadian Auto Dealer

NOVEMBER 4, 2024

It is also involved in selling auto financing. “We Alberta-based GoAuto is another major group in the retail automotive space that has a wide range of businesses, including insurance, in-house financing and the RV sector. It now owns three powersports businesses. Overall, the company has 41 rooftops and represents more than 60 brands.

Dealerships 52

Dealerships Floorplan Retail Finance 52

Auto Remarketing

MAY 20, 2024

It was the dealer voice that led to the revocation of the Consumer Financial Protection Bureau’s flawed guidance on dealer-assisted financing. It was the voice of the dealer that kept 100% deductibility of floorplan interest expenses in the Tax Cuts and Jobs Act.

Floorplan 98

Floorplan Retail Finance Dealerships 98

Dealer World

MARCH 17, 2025

Strong franchises thrived on low inventories and sustained high gross profit margins, while weaker franchises struggled with ballooning inventories, rising floorplan costs, and falling gross profits. This divergence created a marketplace of winners and losers, clearly reflected in days supply of vehicles.

Retail 75

Retail Dealerships Marketing Floorplan 75