Canada Drives restructures enterprise operations, will finish on-line car-buying service | Auto Remarketing Auto Remarketing Canada
Canada Drives restructures enterprise operations, will finish on-line car-buying service
As a part of a restructuring of its enterprise operations, Canada Drives will now not supply on-line car-buying, and can as a substitute deal with its companies that enable customers to promote their car on-line and acquire auto finance approval on-line.
Canada Drives has provided on-line car-buying since 2020 and plans on persevering with to take action on its present stock throughout the transition.
“Since 2020, Canadians have additionally been capable of purchase their automotive fully on-line via the Canada Drives platform,” the corporate stated in a information launch. “Whereas the response from clients has been distinctive, the rising prices of holding stock, amongst different headwinds, has made this particular enterprise mannequin now not viable within the long-term.”
The corporate filed for and was accredited for creditor safety below the Corporations’ Collectors Association Act, per an preliminary order from the Supreme Courtroom of British Columbia.
Once more, Canada Drives will proceed to supply customers the flexibility to promote their automobiles on-line, which it has carried out since 2021, and facilitating on-line finance approval for customers via a community of Canadian sellers, which it has carried out since 2010.
“Canada Drives expresses gratitude to its gifted and hardworking group that has made it doable to supply an distinctive automotive procuring expertise to hundreds of Canadians,” Canada Drives co-CEO Cody Inexperienced stated in a information launch. “The corporate additionally thanks each buyer who has trusted them with their car procuring and appears ahead to persevering with to serve them sooner or later.”