British online auto marketplace Cazoo said an intense focus on improving unit economics as well as restructuring activities which saw it ditch its other European businesses to concentrate exclusively on the U.K. market, are “starting to bear fruit.” In a Thursday (April 27) press release...
Automakers are under increased pressure to discount their cars as higher borrowing costs make consumers nervous. As The Financial Times reported Sunday (April 2), data from Cox Automotive shows the average interest rate on a new car or truck loan is at 8.95%, compared to...
Cazoo is enjoying record revenue but feeling the sting of shedding its European auto business. The struggling U.K. used car company on Thursday (March 30) announced full-year earnings that showed it took a 704 million pound loss ($872 million), a 30% increase from last year and the latest...
British auto marketplace Cazoo is selling its German subscription business two years after buying it. The decision, announced in a Friday (Feb. 17) statement, comes after the online used car dealer informed investors earlier this year of belt-tightening plans that will involve layoffs and the closure of some of its...
August 02, 2022
Investors’ tendency to slash the valuations of unprofitable businesses when the macroeconomic winds aren’t blowing their way is understandable. But for companies that are feeling the brunt of investor skittishness, making a solid argument for shareholders not to jump ship in times like this is the only way out of the predicament. One company that […]
March 06, 2024
Cazoo’s days of selling used cars are coming to an end. The U.K. company plans to transition into a “pure play” automotive marketplace, Cazoo said in a Wednesday (March 6) news release, the latest example of an online car seller shifting its focus amid a tough economic climate. “Transitioning Cazoo to a pure-play automotive marketplace business […]
April 02, 2023
Automakers are under increased pressure to discount their cars as higher borrowing costs make consumers nervous. As The Financial Times reported Sunday (April 2), data from Cox Automotive shows the...
March 30, 2023
Cazoo is enjoying record revenue but feeling the sting of shedding its European auto business. The struggling U.K. used car company on Thursday (March 30) announced full-year earnings that showed it took a...
January 31, 2023
Inflation and an uptick in new vehicle production have dampened the market for used cars. That’s according to a report late Monday (Jan. 30) from The New York Times, which...
