Motobyo is a real marketplace that allows consumers to transact peer-to-peer, removing the inefficiencies that doomed Vroom
Monday’s Automotive News report that “online used-vehicle retailer Vroom…plans to wind down its e-commerce operations, citing a need to preserve liquidity” is deeply disturbing to consumers that bought into Vroom’s national television and radio advertising promises of a new and better way to buy or sell a used vehicle.
“The fault in Vroom’s business model was that they described themselves as a forward-thinking online dealer, but they conducted business the same way it’s been done since Henry Ford was selling the Model-T,” said George Lekas, Founder and Chief Operating Officer of Motobyo, the innovative online automotive marketplace that launched in August 2022. “You can't buy cars from the consumer at a wholesale price or below, sell that car at retail or above, and claim that your business is pro consumer. Today's consumer, with all of the research tools available, is smart enough to figure out when they're looking at a wolf in sheep's clothing.”
Lekas pointed out that Vroom did everything themselves, from building an extensive infrastructure that owned dealership lots with big vehicle inventory to owning inspection centers and transport trucks - Vroom’s business model was overwhelmed by its need for constant cash flow to support an antiquated business model that was in contradiction to their advertised promises to consumers.
“There’s no pretending - you are either a used car marketplace or just another dealer with a website,” Lekas said. “The inherent inefficiencies in the traditional automobile industry have claimed another victim and it won’t be the last.”
Motobyo is a real marketplace that allows consumers to transact peer-to-peer, removing the inefficiencies that doomed Vroom.
“Either you're on the side of the consumer or you’re not,” said Lekas. “Our tech-driven marketplace allows sellers to make a little more money, allows buyers to save a little more money, and provides information and resources to complete a successful transaction on their terms. Motobyo is pro consumer.”
To experience the game-changing impact of Motobyo on the used car business, visit https://motobyo.com today.
Ron Averett, CEO