Based on Vroom’s & Carvana’s news, Ecommerce in auto retail maybe DOA.

Used car site Vroom lays off staff, 25%-50% says source, as it halts Dallas and Indiana operations…ce-as-it-halts-dallas-and-indiana-operations/

The layoffs come in the wake of tumultuous times for some of Vroom’s other competitors.

In the UK, both Carspring and Hellocar shut down last year. Shift, meanwhile, laid off staff and paused operations in at least one market, but also eventually raised more funding led by BMW.

Perhaps biggest of all was Beepi, which blew through $150 million in funding before two potential sales fell through and it was sold for parts.

Today, Carvana reports:

Carvana stock tanks after company reports wider quarterly loss

Shares of Carvana Co. CVNA, -14.35% fell more than 7% late Tuesday after the company reported a wider-than-expected fourth-quarter loss and revenue that also missed expectations. Carvana, a platform for buying used cars online, said it lost $47 million in the quarter, or 45 cents a share, compared with a loss of $36 million, or 26 cents a share, a year ago. Sales rose to $265 million, from $107 million a year ago. Analysts polled by FactSet had expected the company to report a loss of 39 cents a share on sales of $270 million.

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