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

If you were thinking about pulling the trigger on a used car through online retailer Vroom, we’ve got bad news: you missed your shot. Times have been tough for online used car retailers, in general. The company announced today that it is suspending all transactions through vroom.com, and laying off around 90 percent of its staff.

Floorplan 120

Floorplan Retail Sales Finance 120

Full Path

JULY 30, 2024

As we moved into July, there were signs of recovery in the retail vehicle market. For dealerships, Higher inventories and rising floorplan costs are eating into profit margins, creating a challenging environment for automotive retailers. By clearing out excess stock through leases, dealerships can lower their floorplan expenses.

Dealerships 52

Dealerships Floorplan Down Payment Insurance 52

Auto Remarketing

MAY 20, 2024

You know how your dealership fits into the larger automobile retail industry. It was the dealer voice that led to the revocation of the Consumer Financial Protection Bureau’s flawed guidance on dealer-assisted financing. You know your business’s impact on your employees, on the economy and on your community. They need to hear from you.

Floorplan 98

Floorplan Dealerships Consulting Finance 98