Floorplan Related Topics 
Carscoops
AUGUST 5, 2024
This setup also means the batteries can be positioned in the middle of the chassis, allowing a lower floorplan and a lower driving position than an EV with a skateboard architecture. “The physical size shrinking, and inevitably the mass coming down, allows you to go back to the core values,” he said of solid-state cells.
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.
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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.
AutoSuccessOnline
MARCH 12, 2024
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. You are being evaluated just the same as you assess your customers. These tools are constantly evolving.
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. By clearing out excess stock through leases, dealerships can lower their floorplan expenses.
Carscoops
MARCH 24, 2024
Other dealers are also working to get rid of older vehicles, as concerns about floorplan costs and an inability to market newer vehicles mount. The result of this perfect storm is that about 40 percent of the vehicles that Poulos sold in February 2024 were from the 2023 model year.
Carscoops
MAY 21, 2024
These changes aim to simplify and reduce complexity in various business aspects, such as floorplan assistance and Ford Credit policies. .” Beyond the EV program, Ford plans to implement immediate, near-term, and long-term changes in response to dealer feedback.
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