Coverage of the digital transformation around selling a vehicle, from the use of software tools and social media to reach buyers to creating a showroom-free online sales experience.
Automotive Ventures had hoped to raise as much as $50 million for its DealerFund, but economic trends left investors more cautious.
Tekion, which last raised capital in 2021, has investors to think about as it looks to grow dealership management system market share.
The auto industry, just like the news business, involves many deadlines. Publicly traded companies are required to disclose earnings at specific intervals. Dealers impose deadlines to turn inventory. And the industry as a whole is driven by deadlines to meet consumers' demands.
The vehicle listings company predicts CarOffer will break even or become profitable by mid-year. CarGurus also could move ahead with a full acquisition of the wholesale digital trading platform.