TrueCar founder among bidders for Shift's digital assets autonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autonews.com Daily Mail and Mail on Sunday newspapers.
Used auto prices are down 22% from the pandemic peak level (NYSE:KMX) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
Vroom hits the brakes on its online used car business autoblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoblog.com Daily Mail and Mail on Sunday newspapers.
Vroom is shutting down its online used car marketplace and shifting all of its resources and capital into two business units focused on auto financing and AI-powered analytics. The company said it is suspending all used car transactions through vroom.com and plans to sell off its used vehicle inventory to wholesalers. The company said it has not determined how much this wind down will cost, partly because of uncertainty on what its used vehicle inventory will sell for, according to the regulatory filing.