eBay completed the acquisition of Cox Automotive’s Motors.co.uk online used car classified business last week.
The sale of the Motors.co.uk business comes just a month after it joined forces with Auto Trader to drive the growth of its Dealer Auction platform.
As reported by AM Online, a statement issued by eBay on the 15th February revealed that the Motors.co.uk team had joined Gumtree UK, an eBay Classifieds business, as part of a merger which will host more than 620,000 online car listings.
The US-based online retail giant said in a statement that it was “creating a leading alternative to the current UK motors classifieds market leader”, adding: “This will enable car dealers in the UK to easily reach customers and give buyers access to more choice
In addition, the combination provides opportunities for cross-platform synergies with the eBay UK marketplace and an improved transaction experience for consumers.”
Matt Barham, general manager of Gumtree UK, said: “Our customers have been crying out for a value alternative to other players in the industry, and we have listened to their feedback to provide the perfect place to grow an automotive business.
“Our new-look motors proposition provides added value to dealers thanks to far-greater advertising efficiency.
“We are completely committed to the success of all our dealers and are confident this will increase their chances of making a sale; whether they have 10 cars or 5,000.”
Martin Forbes, chief executive of Cox Automotive, said: The completion of this deal is great news for Motors.co.uk. Under the new ownership of eBay, a business renowned for its strong consumer-led focus, I have full confidence that Motors.co.uk will further accelerate its growth and increase its share of the automotive classified marketplace.
“This transaction enables Cox Automotive UK to focus its resources and assets in developing our ‘Connected Retail’ proposition and build upon our strengths in the wholesale market, both physical and digital, especially with the launch of the new ‘Dealer Auction’ Platform, which will improve the speed of sale and profitability for vendors, and give buyers access to the UK’s largest wholesale marketplace”.
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