Standalone used-car stores navigate ‘turbulent waters’ swimmingly

Consider the landscape for used-only vehicle retailers just three years ago.

Vroom, which launched its initial public offering in June 2020, made its Super Bowl advertising debut in February 2021, followed by a return trip a year later alongside rival Carvana, which joined the commercial action for Super Bowl LVI.

Shift announced plans to go public through a special purpose acquisition company (or “SPAC”) in June 2020, a move that was completed in October of that year.  CarLotz, a “retail remarketing” platform, would announce its own SPAC plans that same October.

Momentum was strong, amid a pandemic-driven white-hot market for pre-owned cars.

Some three years later, however ...