Lindsay VanHulle

The dealership marketing company said management has determined "that it has substantial doubt about the company's ability to continue as a going concern."

The online used-vehicle retailers are facing a reckoning after riding high on consumer and investor interest during the COVID-19 pandemic.

Online used-vehicle retailer Shift Technologies said it will focus on balancing growth and profitability in 2022.

TrueCar executives said the vehicle listings company could look at "tuck-in" acquisition opportunities to accelerate its product road map around TrueCar+, its new digital retailing tool.

TrueCar CEO Mike Darrow said the company envisions itself as a modern auto marketplace that allows consumers to do as much or as little of a vehicle purchase online as they want.

CDK Global agreed to be acquired later in the year by investment firm Brookfield Business Partners in a deal valued at $8.3 billion.

Dealership technology company Cars.com reported 19,500 dealership customers as of March 31, the highest count in more than three years, CEO Alex Vetter said.

Some of the nation's public dealership groups said they sold thousands of vehicles on their digital sales platforms in the first quarter, while others expanded new tools to more customers.

Attorneys for the former Reynolds and Reynolds CEO wrote in a court filing this week that Brockman was hospitalized with infections and he needed a feeding tube.

Jeff Wyler Automotive Family, with 23 dealerships in three states, completed its first vehicle transaction using cryptocurrency in April at a store in Kentucky.

Executives at the nation's public auto dealership groups say they don't expect a surge in vehicle inventory for a while, given ongoing supply chain bottlenecks.

Brockman's latest claim of deteriorating health "is a naked attempt to improperly interject unadmitted, unverified, and unsworn evidence into the record," prosecutors wrote.