5,000 retailers now use the Motorway platform and, to date, it has sold more than 500k cars. CEO Tom Leathes says the success is through following a fundamentally different business model to Cazoo, operating as a marketplace which now handles 5% of all used car sales in the UK. Leathes now wants Motorway to become […]

Read More →

Cazoo to Exit Car Retailing, De-List and Become a Marketplace Cazoo will cease to be a used car retailer, de-list from the New York Stock Exchange and attempt to become a rival to Auto Trader, Carwow and Motors. In a stock market statement yesterday, Cazoo said: “The Cazoo board has reviewed the strategic options for […]

Read More →

Cazoo is facing a funding crisis and must persuade shareholders to agree to an urgent cash injection – and is understood to be preparing contingency measures including new investors, a sale or beak-up of the company, and asset sales. If fresh funds can’t be found, it will be forced to consider administration. The Telegraph reports […]

Read More →

Cazoo head of operations James Dower is to leave the business on 31 August. He said he had been proud to lead a “hugely effective operational team that have delivered incredible efficiencies and outstanding performances across the wholesale business. “To the site, field inspection, imaging and logistics teams I would like to say a huge […]

Read More →

Cazoo has sold its German subscription business, Cluno, to ViveLaCar and The Platform Group. The portfolio includes several thousand vehicles in Germany. Financial terms were not disclosed. The deal concludes Cazoo’s withdrawal from the German market and, with previously announced sales of other businesses in Europe, largely completes Cazoo’s entire withdrawal from mainland Europe. Cazoo […]

Read More →

Cazoo delivered its 100,000th used car last week and rewarded the customer with a full refund. The company claims it has become one of the UK’s largest used car retailers with CEO Alex Chesterman saying “consumers love what we are doing as evidenced by the overwhelmingly positive reviews we receive each day”. Cazoo is targeting […]

Read More →

Cazoo is investigating going public with an IPO valuation potentially more than £5bn. It is working with bankers on options, which could involve a London listing, or a merger with a New York-listed special purpose acquisition company, or SPAC. Sky News says any move would not take place until much later in the year. Shares […]

Read More →

New-start online retailer Cazoo has bought Imperial Car Supermarkets for an undisclosed sum. The move takes Cazoo from being an online-only, home delivery, retailer to being a more traditional used car dealer. A spokesman for Cazoo said: “The deal, combines Cazoo’s leading digital capabilities and platform with Imperial’s extensive infrastructure and expertise. It will accelerate […]

Read More →