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26 Apr 2001
iMotors has shut down operations. They are running out of cash. They will still honor warranties on cars they have already sold.
Eighteen months ago car dealers were worried that online car sites would put them out of business. Now Greenlight.com, iMotors, and CarOrder have shut down and AutoByTel and Autoweb are merging. Once again it is being shown that Internet pure-plays are not going to take over the world. Successful companies are building multiple distribution channels, selling offlline and online. Now the car dealers can get their act together and start using the Internet to sell more cars.