Cazoo

[Megaflow]

It seems the attempts to raise funding did not go well.

https://cardealermagazine.co.uk/publish/bombshell-...

[Mark V GTD]

Still sponsoring the snooker though.

[vikingaero]

Megaflow said:

It seems the attempts to raise funding did not go well.

https://cardealermagazine.co.uk/publish/bombshell-...

Amazing that they think that with no capital and no profitable business they plough the ship on as though they can turn it around. If it looks like a dead duck, doesn't quack, then it's dead. Maybe they think there is some misguided value in the name/brand?

[Megaflow]

Mark V GTD said:

Still sponsoring the snooker though.

And one of the British GT team's I noticed at the weekend.

[Mark V GTD]

Megaflow said:

And one of the British GT team's I noticed at the weekend.

Last party on the Titanic?

[ACCYSTAN]

Mark V GTD said:

Megaflow said:

And one of the British GT team's I noticed at the weekend.

Last party on the Titanic?

More likely already paid the sponsorship fee up front

[Fore Left]

Looks like they're about to appoint administrators according to this this thread on Reddit;

https://caseboard.io/cases/48d62ae0-58b6-4244-995b...

[Sheepshanks]

It's interesting that Carvana in the US have had a bit of a resurgence lately.

[fourstardan]

https://www.cityam.com/cazoo-preparing-to-enter-ad...

What will happen with the surplus stock?

[Moorlandman]

BBC reporting it

https://www.bbc.co.uk/news/articles/c9wz2lw8kgeo

[Your Dad]

They don't appear to have stock since March:

https://www.bbc.co.uk/news/articles/c9wz2lw8kgeo#:...

[808 Estate]

How can a company thats never made a profit be valued at $7B

[Megaflow]

Fore Left said:

Looks like they're about to appoint administrators according to this this thread on Reddit;

https://caseboard.io/cases/48d62ae0-58b6-4244-995b...

It does not surprise me. A car is typically the second most expensive purchase people make, even second hand, who is going to do that without actually looking at it first?

[sixor8]

Plenty since covid. And if it is distance sold, you have a 14 day return without reason. That's probably been the main problem, it's not like clothing or a small item.

I've bought a car on a classic car auction website (not eBay) on strength of photos and description only, it was fine.

[Hugo Stiglitz]

I bought a BMW motorbike privately a couple of weeks ago completely on a few pics and trust!

I caught two trains to pick it up. All good.

[ChocolateFrog]

Megaflow said:

It does not surprise me. A car is typically the second most expensive purchase people make, even second hand, who is going to do that without actually looking at it first?

I got the impression you could just send it back within a week or 2 without paying a penny.

Imagine shipping a car 100's of miles over 2 days for no money. I always assumed it was those sorts of coats that sunk it.

[HTP99]

There is definately a place for a remote selling mode, Cinch seem to be doing OK, the issue with Cazoo was their arrogance in thinking and marketing themselves as the definitive buying model, they spent stupid on advertising and sponsorship, paid stupid money for stock with tiny margins, planning to eventually dominate and own the used car selling market, burning through cash along the way.

Their arrogance in thinking they could take over and dominate the used car sales model was their downfall.

[fridaypassion]

It's a lot different to the estate agent model. Car dealers love us or hate us do a LOT more work than an estate agent does we can't be replaced by JavaScript.

[buyerandseller]

Hugo Stiglitz said:

I bought a BMW motorbike privately a couple of weeks ago completely on a few pics and trust!

I caught two trains to pick it up. All good.

Had you fully paid for it before seeing it though. there's a big difference.

[RammyMP]

Megaflow said:

It does not surprise me. A car is typically the second most expensive purchase people make, even second hand, who is going to do that without actually looking at it first?

I did. The car was fine. Had it for nearly 2 years, it’s not exploded yet.