Cazoo
Cazoo to sell off stock, cease car sales, become rival to Auto Trader and Motors
Online car dealer Cazoo is beginning to sell off its used car stock, transporters and customer care centres as it has announced it will switch to a new business model as a car marketplace, competing with rivals such as Auto Trader, eBay Motors and AA Cars.
Debt restructuring "will do little to fix Cazoo's rickety engine"
The restructuring agreement announced by online car dealer Cazoo this week to “deleverage” its capital structure and further improve its “financial flexibility” won't yet smooth its investors' journey, and stakeholders should "buckle up" according to one expert.
Online car dealer Cazoo still leaves investors awaiting share price growth
Investors in online car dealer Cazoo are still having to wait for share price growth despite its announcement this month that its gross profit on every car sold is almost four times higher than it was achieving during the first half of 2022.
Cazoo restructure ‘starting to bear fruit’ in Q1 financial results
Used car retailer Cazoo reported a 690% year-on-year growth of gross profit per unit and overall gross profits up 367% to £14 million in Q1 as its CEO asserted that its sweeping restructure was starting to “bear fruit”.
Cazoo founder 'incredibly proud' of achievements, despite 2022's £704m loss
Cazoo founder Alex Chesterman said he was “incredibly proud of everything the team at Cazoo has achieved” in a financial results statement that revealed the online used car retailer’s £704 million losses for 2022.