Cazoo is poised to invest £1 million in a new used car handover customer centre in Carlisle - the first of seven new facilities.
Franchised car retailers and their manufacturer partners have been warned that they are at risk of losing the battle for the used car market as emerging online disruptors assert dominance in stock acquisition.
Constellation Automotive Group has switched the focus of its Corby used car preparation centre from Cazoo to its own cinch online retail offering – delivering a potential 30,000 cars per year.
Cazoo has begun targeting new car customers with an all-inclusive new car subscription service, marketing models from Fiat and Ford to Mercedes-Benz and Tesla.
Carzam is poised to launch an online used car buying platform as retailers seek solutions to the stock shortage issues that are causing vehicle values to soar.
Cinch has attracted £1 billion in new investment to continue its push to online car retail growth alongside the likes of start-up rivals Cazoo and Carzam.
Cazoo has appointed Veronica Sharma as its first group chief people officer, responsible for all leadership, culture, capability and talent management across the group.
Cazoo is poised to expand its physical car handover Customer Centre network into Doncaster after securing an 18,000 square foot facility in one of the town’s key automotive retail locations.
Former Liberal Democrat MP Luciana Berger will join the Cazoo board as non-executive director and Environment, Social, and Corporate Governance (ESG) Committee chair.
Hendy Group and Vertu Motors’ Vansdirect business will both sponsor British Touring Car Championships (BTCC) drivers in the 2021 season as Cazoo backs the St Leger Stakes in its latest deal.
Cazoo has added Barnado’s deputy chairperson Moni Mannings to its board of directors as it continues to make preparations for its £5 billion public offering on the New York Stock Exchange.
Cazoo has appointed former Ocado chief financial officer Duncan Tatton-Brown and 23andMe founder and chief executive Anne Wojcicki to its board ahead of its £5bn public offering on the New York Stock Exchange.
A shift from traditional showroom-based car sales to a wholly-online retail solution would cut dealers cost-per-sale by over 40% - saving the sector £9.5bn a year.
Car retail’s impressive response to the COVID-19 pandemic, the impending reopening of car showrooms after ‘Lockdown 3’ and the “Cazoo effect” have triggered rallying share prices for the sector’s PLCs.
Marshall Motor Group have announced further sponsorships of darts players for the 2021 season, while Cazoo has become the main sponsor of The Derby Festival.
The car retail sector’s growing reliance on clicks over bricks drove Cazoo’s “crazy” £5 billion market float valuation, according to Vanarama chief executive Andy Alderson.
Cazoo is set to be listed on the New York Stock Exchange following the signing of a definitive business combination agreement with US-based acquisition company AJAX.
Car buyers turning to televised sports during COVID-19 ‘Lockdown 3’ look set to continue to be a prime target for retailers, with Cazoo, heycar and Vanarama all securing new football-related marketing opportunities.
Online car retailer Cazoo has launched a new £1 million Customer Centre in a former Infiniti car dealership in Holbeck, Leeds.
Cazoo has begun an expansion “across Europe” with the acquisition of German car subscription provider Cluno.
