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. Obviously, we are very disappointed with this outcome.”

Floorplan 122

Floorplan Retail Sales Finance 122

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.

Floorplan 119

Floorplan Sales Marketing 119

Carscoops

MAY 21, 2024

The decision stems from multiple meetings held with dealers around the country to discuss market concerns. The talks were aimed to address and discuss dealers’ concerns amidst a rapidly changing EV market. Ford aims to simplify and reduce complexity in its operations for electric vehicles.

Floorplan 116

Floorplan Term Dealerships Marketing 116

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

Auto Remarketing

OCTOBER 22, 2024

Sending a full-size truck to auction appears to be as much of a heartburn-triggering situation for franchised dealers as seeing that new model sitting in inventory and on the store floorplan for 100 days or more. One other note from the wholesale market. Data from Black Book, Cox Automotive and J.D.

Floorplan 98

Floorplan Rebate Retail Automotive 98

CarExpert

MAY 15, 2024

We’re not exactly looking to be coming into the market with a very, very aspirational target,” said Mr Lau. “In He said there’s an increasing appetite from GAC to tackle the Australian market, with a renewed focus from head office on right-hand drive production. This includes building a plant in Thailand to build Aion EVs.

Sales 111

Sales Floorplan Networking Retail 111

Full Path

JULY 30, 2024

Explore 2024 automotive market and leasing trends, with strategies for dealerships to navigate economic pressures and boost profitability. As we moved into July, there were signs of recovery in the retail vehicle market. The current market demands agility and the ability to adapt to changes.

Floorplan 52

Floorplan Dealerships Down Payment Insurance 52