eBay acquires Motors.co.uk
eBay has agreed with Cox Automotive to acquire Motors.co.uk, a UK-based platform for buying and selling cars. The plan is for it to become part of Gumtree UK, an eBay classifieds business. For more on eBay’s automotive strategy, visit the Fleet Europe Summit (see below).
According to eBay, “combining the inventory, customer relationships and traffic available on Gumtree UK, eBay Motors UK and Motors.co.uk, along with (its) cutting-edge tools and services, would help UK car dealers increase their leads and bring buyers more choice and value.”
The acquisition builds on the partnership between Gumtree UK Motors and eBay UK Motors, launched last January. That partnership enables UK car dealers to easily reach customers on both platforms and gives buyers access to more listings.
Gumtree UK, eBay Motors UK and Motors.co.uk currently have a combined offer of more than 620,000 car listings. By joining forces, they could become a leading alternative to AutoTrader, the current UK motors market leader, with 500,000 listings.
“Combining Motors.co.uk’s extensive inventory, dealer engagements, traffic and cutting-edge tools and services with the considerable audience of in-market car buyers provided by eBay and Gumtree would give UK car dealers a significantly broader reach,” says Matt Barham, Gumtree UK General Manager.
Motors.co.uk is a subsidiary of Cox Automotive. With over 350,000 used-car listings on its platform, it is one of the UK’s largest dealer-facing brands, helping over 5,000 dealers sell their cars.
Its acquisition by eBay is subject to regulatory approval and is expected to close before the end of Q1 2019.
On 27 November, Alexander Prinssen, eBay’s Director Motors, B2B Sales & Marketing (and previously of Athlon), will speak at the Fleet Europe Remarketing Forum on the subject of New Business Models.
The Fleet Europe Remarketing Forum is part of the Fleet Europe Summit, the unmissable annual highlight of the European fleet community (27-28 November in Barcelona). Click here to learn more and register.