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 Customer 110

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 120

Floorplan Retail Sales Finance 120

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. Leveraging Digital Platforms: Utilize technology to streamline the leasing process, especially for generations that prefer managing their payments online.

Dealerships 52

Dealerships Floorplan Down Payment Insurance 52

Drive.com

JULY 28, 2024

An OEM would say, ‘oh, we don’t make them take them’, but if you [a dealer] get a phone call from your zone manager and he says, ‘mate, I need you to take a hundred of these or 50 or 20 and you’ve already got a bunch of them’ there’s not much you can do – there is pressure, it just exists.

Floorplan 76

Floorplan Manufacturing Consulting Networking 76