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eBay To Acquire Motors.Co.Uk To Rival Autotrader


10/22/2018


eBay To Acquire Motors.Co.Uk To Rival Autotrader
Motors.co.uk, a car search website, is set to be acquired by the bidding platform eBay as the later gets ready to compete with Autotrader.
 
The deal – the value of which was not disclosed, would be conducted between the online shopping giant and Cox Automotive, which is the current owner of the auto search website. 
 
The aim of purchasing the website by eBay is to merge it with its Gumtree business which is the site of the company that deals with classified listings. This is an effort by the bidding platform giant to enhance the product offerings to customers and users as it intensifies its rivalry with Autotrader.
 
“This acquisition would finally present a viable car selling and shopping alternative for car dealers and buyers,” said the general manager of Gumtree UK, Matt Barham.
 
 “By 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, this acquisition would give UK car dealers a significantly broader reach,” he said.
 
At the same time, the managing director at Motors.co.uk, Phill Jones, said that the long standing aim of the company has been to it easier for consumers to buy and sell cars. “The deal with Ebay would allow us to take this to the next level and we’re very excited about what it potentially means for our team members, our consumers, and our advertisers,” he said.
 
Cox had acquired Motors.co.uk back in 2012. And since that take over, the number of consumer audience for the website has been doubled along with the number of vehicles put up for sale through adverts on the website.
 
The company has also launched search apps for smartphones which allows potential buyers to search for vehicle son the go and had also launched a tool which allows dealers top keep a tab on the money that they are spending on their advertising spend and the stocks that are the top performers.
 
Other websites - Parkers.co.uk, Topgear.com, Autovillage, Raccars.co.uk, and Honest John, which have a combined reader reach of 5.4 million per month, would alos be acquired by eBay as a bouquet in the purchase of Motors.co.uk.
 
The entire team which has been associated with Motors.co.uk were credited with the success of the website and for growing its business by the CEO of Cox Automotive UK, Martin Forbes. “It isn’t surprising that it has attracted the attention of eBay, one of the world’s most well-known e-commerce companies. The deal with eBay is great news for Motors.co.uk and would enable the business, the brand, and the team to grow under new ownership where the focus is more consumer-led,” he added.
 
(Source:www.news.finance.co.uk)