Vroom, Inc. (NASDAQ:VRM) Q3 2022 Earnings Call Transcript

Thomas Shortt: Yes. Thanks, Vincent. Given the transformation we’ve been doing this year, it’s really hard for us to tell what’s happening in used car demand, given all the various levers we’re pulling to improve the business. Clearly, we know — we actually think our other competitors are probably a better proxy for what’s going on in the industry. And clearly, there’s some softness. I think that’s a $64,000 question, what — how are things going to play out next year as the Fed continues to raise rates and depends on what happens with inflation. So unfortunately, we don’t have a lot of great color to share on next year’s demand. We do think at this point, the majority of the things that are happening, internally, are related to us just not having sales resources.

We’re also very curious to see how Q1 plays out when we are fully staffed on sales resources. And I’d say we probably have a better view at the end of Q1 in terms of what we’re seeing in just used car demand.

Operator: At this time, I’d like to turn the call back over to CEO, Tom Shortt, for closing remarks. Sir?

Thomas Shortt: Great. Thank you, everyone, for your time today, and have a fantastic day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.