The Vancouver-based online car dealership announced Tuesday that it will no longer sell cars beyond its existing inventory. It plans to become a platform for dealerships to buy used vehicles from customers and facilitate auto loans. (The Logic)

Talking point: Canada Drives said in a release that its business model is “no longer viable in the long term” due to rising costs of holding inventory. Canada Drives did not immediately respond to The Logic’s questions about how this week’s restructuring would affect employees. Earlier this year, the company laid off an unspecified number of workers. Last year, the company raised $40 million from financial services firm Goeasy in June and another $10 million from existing investors in October to expand across the country. Meanwhile, as my colleagues Catherine and Martin reported, Montreal-based construction-tech company RenoRun also faces a cash crunch.