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.

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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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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.

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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.

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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. “We

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Canadian Auto Dealer

NOVEMBER 4, 2024

He said his company has given every one of its General Managers a home charging station manufactured by Quebec-based FLO EV Charging. “We We went in and adopted a lot of the car business side to their business, everything from financing, structure, accountabilities, floorplans, banking systems, everything.

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Dealerships Floorplan Retail Finance 52

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. on the low-end and 8.0x

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Retail Dealerships Marketing Floorplan 75