Cazoo is targeting 100,000 annual used car sales and a £2 billion turnover in 2022 after raising a further $630 million (£414.2m) to fund its expansion in Europe and UK growth.
Cazoo has secured a sponsorship deal with Spanish LaLiga football club Real Sociedad as its strategy to drive car sales growth through profile continues in mainland Europe.
A share price slump has seen the value of online car retailer Cazoo halve since its August listing on the New York Stock Exchange.
The UK’s established used car retail operators will continue to dominate the sector after ramping up their breadth of services to see off new market disruptors such as Cazoo and cinch, iVendi has said.
Driverama has said that it has no immediate plans to bring its growing online car retail operation to the UK after kicking off its growth in new European markets.
Cazoo is expanding its darts sponsorship portfolio to include the World Darts Championship along with the UK Open, Players Championship Finals and Masters.
Cazoo has partnered with WhoCanFixMyCar to launch two and three-year CazooCare servicing and MoT plans for its UK customers at point of purchase.
Cazoo has vowed to grow its car inventory in Europe after officially launching its online car retail offering in France and Germany today.
Cazoo has agreed a long-term partnership with leasing company Ogilvie Fleet to provide end of life vehicle solutions.
Cazoo has acquired Swipcar, a Spanish digital car subscription business.
The Advertising Standards Authority (ASA) has rejected a complaint from the Scottish Motor Trade Association (SMTA) which contested Cazoo’s claims that the vehicles it offers for subscription were not “new cars”.
Cazoo has grown its Customer Centre used car handover network to 21 sites with the opining of its latest new facility in Newcastle.
Cazoo has agreed the £6.5 million acquisition of online commercial vehicles retailers Van365 ahead of its launch into the van market later this year.
Cazoo has opened the doors to its 20th car retail Customer Centre at West Thurrock’s Lakeside Retail Park following a £1 million investment.
Cazoo has appointed former eBay and mobile.de executive Abhishek Roy as its European managing director ahead of its planned expansion into France and Germany.
Cazoo chief executive Alex Chesterman will ring the opening bell at the New York Stock Exchange this afternoon as the used car e-commerce firm is publicly listed.
Former CarShop chief executive and Sytner Group board member Jonathan Dunkley has been appointed as senior strategic advisor at online car retailer Cazoo.
Copart UK has said it will buy the privately-owned cars that other used car buying platforms may not consider as it launches CashForCars in the UK and Ireland.
Cazoo has reported an £8 million gross profit in Q2 after its online used car retail volumes surged by 429% a year on from the first COVID-19 lockdown period.
Cazoo is poised to invest £1 million in a new used car handover customer centre in Carlisle - the first of seven new facilities.
