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The company launched a website, Autotrader.co.uk, in 1996, giving people the ability to buy or sell a car online. [ 6 ] British international investment firm BC Partners bought a stake in the business from John Madejski in July 1998 for £260m; then Guardian Media Group , who had acquired Automart in 1982, merged that business with Hurst ...
During the COVID-19 pandemic, Motorway was forced to stop trading in March 2020 following the UK national lockdown. Trading resumed in May 2020 with contact-free transport to align with social distancing rules. [7] By June 2020, Motorway reported £1.39m in used car sales on the platform per day. [8]
Wizzle was rebranded Sell Your Car, allowing Carwow to grow the business significantly by entering the used car market. In 2022, Volvo Cars acquired a minority stake in the company. [18] In November 2022, Carwow cut nearly a fifth of its total staff due to economic concerns. Around 70 staff members were released across the UK, Spain and Germany ...
It also purchased a former Carland store located in Sheffield. [3] In December 2000, Carcraft was put on sale, with a price tag of £200 million. [4] In December 2005, Carcraft became the first independent second hand vehicle retailer to create and found a contract hire car company. [5]
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It launched an online marketplace for used cars in December 2019, which became its primary business. [1] It is based in the UK but listed on the New York Stock Exchange following a merger with a special-purpose acquisition company, led by hedge fund manager Dan Och in August 2021. As of its listing the company had a valuation of US$8 billion.