ACV Auctions Reports Significant Loss Due to Tricolor Bankruptcy

ACV Auctions, a company specializing in online car sales, announced a loss exceeding $18 million last year. Bloomberg posted on X that this financial setback was attributed to the bankruptcy of subprime auto lender Tricolor. The impact of Tricolor's financial troubles has been significant for ACV Auctions, highlighting the interconnected nature of the automotive and lending industries. The company continues to navigate the challenges posed by this development as it seeks to stabilize its financial standing.