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Motors has acquired the Cazoo logo and plans to turn it into a virtual used car marketplace focused on mobile devices, it announced this morning.
The ad platform’s move, for an undisclosed amount, confirms earlier reports this month that the ad platform has finally reached a reduced-price deal for the collapsed used car operator.
Motors says it will invest in the Cazoo logo to attract more car buyers to its markets, and that in the coming weeks it will launch a new Cazoo app and then a new one with more than a quarter of a million used car listings.
He wants Cazoo to offer consumers a new car search technique, based on his own experience of more than 15 years.
The Motors website, which has a network of sites associated with eBay and Gumtree, will continue as it is.
The new Cazoo app will offer an “innovative, mobile-centric strategy for the car search experience. “
Barry Judge, CEO of Motors, said: “Despite its demanding situations as a company, Cazoo certainly has a family appeal among car buyers.
“We have the experience and stock to make the new Cazoo location a fashion market for used cars.
“We will leverage the enthusiasm and engagement that the Cazoo logo has already generated with consumers to satisfy more sales inquiries to our reseller partners. “
He added: “This acquisition offers dealers an excellent opportunity to leverage awareness of the Cazoo logo and traffic within the Motors network.
“All running partners who take advantage of our Motors MultiSite packages will get reduced exposure at Cazoo. “
Motors has been owned by O3 Industries and Novum Capital since 2021, and Daniel Ozen, President of O3 Industries, said, “We know that today, the average car customer visits 4. 2 internet sites during their search journey.
“With a single invoice, dealers can promote it to millions of car buyers on the Motors marketplace, eBay, Gumtree and now Cazoo, expanding their online visibility and lead generation capacity.
“This acquisition underlines our ambition to be a key partner for distributors, offering visibility to online shoppers. “
In a post on the Car Sales/Dealer Group Facebook page, Motors Chief Operating Officer Phill Hastings-Jones said: “The acquisition of the Cazoo logo is a strategic decision, albeit a difficult one, given the combined emotions within the automotive network over the past.
“But there’s no denying that Cazoo is very consumer-conscious, which makes us a springboard to generate more leads and sales for distributors. “
He told the band members, “We are excited about this new bankruptcy and look forward to joining us on the adventure as Motors continues to evolve and grow.
Last Friday, Cazoo Group released a statement to the New York Stock Exchange (NYSE) to imply that the board of directors had voted unanimously to liquidate the Cayman Islands-based parent company and appoint volunteer liquidators.
In March, Cazoo announced a halt to used car sales and its goal of creating an online advertising marketplace. Then, in May, it was announced that Cazoo Group would be delisted from the New York Stock Exchange.
The administrators were appointed to the bankrupt used car dealership online marketplace on May 21 after making no new investments following a £704 million loss in 2022, adding to its £544 million deficit in 2021.
On Tuesday, July 2, an ordinary general meeting will be held for the shareholders of Grupo Cazoo to approve its dissolution and voluntary liquidation.
You can watch our special documentary on the fall of Cazoo below:
This short story was originally published at 7:28 a. m. on June 28 and was updated at 10:23 a. m. m. of the same day with commentary by Phill Hastings-Jones.
John has been with Car Dealer since 2013 after spending 25 years at the newspaper as a journalist and then deputy editor/deputy editor of regional and national titles. John is the Deputy Editor of the Editorial Department, working at Car Dealer and managing social media.
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