Vroom CEO says shutting down its online used-car business was ‘gut-wrenching’

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Following a tumultuous exit from the online used car space, the CEO of what was Carvana's (CVNA) largest competitor says that shutting down its online marketplace was the hardest day of his career. Related: 'TikTok generation' is getting enticed with Chinese EV brands Vehicles sit inside a Carvana Co. car vending machine in Westminster, Calif. Bloomberg/Getty Images Vroom (VRM) CEO Thomas Shortt said that the decision on January 2024 to shut down the operations that let customers buy and sell used cars was one they were led to make in order to save the company's liquidity and value, according to...