In a surprising move, Vroom, the online car retailer, has announced the suspension of all transactions on vroom.com, along with a massive layoff affecting around 90% of its staff. The company cites the inability to secure additional capital as a reason for the drastic decision. Remaining vehicle inventory will be sold through wholesale channels, and customers with existing contracts are urged to contact Vroom’s support team. This development reflects the challenging landscape for online used car retailers, following a trend seen in the industry.
