Jacopo Natali | March 07, 2023 | Automotive, Financials / Deals, People on the Move
Indonesia-based auto financing startup Broom has secured $8 million U.S. in a Series A funding round led by OpenSpace Ventures, and issued shares worth $13.3...
Deb Stowe | March 06, 2023 | Automotive, Financials / Deals
Online used-car dealer Vroom saw its total revenue tumble by 77.6% to $209 million in the fourth quarter of 2022, from $934 million in Q4 2021. It posted total...
Ben Salisbury | March 03, 2023 | Automotive, Digital Auto Retail, Financials / Deals
U.K.-based car dealer group Snows is the latest to try and grab one of Cazoo’s car business sites. The company, which operates along the south coast of England, is...
Andrzej Sowula | March 03, 2023 | Automotive, Marketplaces
Adevinta has started the sale process of its Hungarian assets and announced it in its Q4 2022 report. The business has been under strategic review since November...
Tariq Ahmed Saeedi | March 03, 2023 | Automotive, Digital Auto Retail, Financials / Deals
Used-vehicle digital retailer Carmerce has raised KRW3 billion ($2.3 million U.S.) in pre-Series A funding a couple of months after starting operations with a seed...
Ben Salisbury | March 03, 2023 | Automotive, Digital Auto Retail, People on the Move
Cazoo board member Anne Wojcicki has resigned as a director of Cazoo due to ‘personal reasons’, according to a Form 6-K issued to the U.S. Securities and Exchange...
Deb Stowe | March 02, 2023 | Automotive, People on the Move
Prosus is to jettison OLX Autos, it has announced. Blaming the move on the state of the market, the Naspers subsidiary is exploring “all options” for the used-car...
Greg Spencer | March 01, 2023 | Automotive, Digital Auto Retail, Financials / Deals
CarGurus reported stable revenue for its core marketplace in Q4 2022, but its digital wholesale business suffered and the company predicted continued near-term...
Deb Stowe | March 01, 2023 | Automotive, Marketplaces, Financials / Deals, People on the Move
Singapore-based automotive marketplace Carro has acquired Thailand-based classified company Kaidee from EMPG, according to information received by the AIM Group....
Ben Salisbury | March 01, 2023 | Automotive, Digital Auto Retail, People on the Move
Two former directors of listed car dealer group Lookers have invested in a new automotive technology company. Andy Bruce (LinkedIn profile) and Nigel McMinn...
David Loji | March 01, 2023 | Automotive, Digital Auto Retail, Financials / Deals
Kavak has signed a $1.2 billion U.S. financing deal with BACS (Banco de Crédito y Securitización) that will both allow the digital auto retail to buy more vehicles...
Tariq Ahmed Saeedi | February 28, 2023 | Automotive
Auto marketplace AutoPlus has teamed up with virtual-garage service NaverMyCar to provide the latter’s users with updated price information about used cars and...
Damian Shore | February 28, 2023 | Automotive, Digital Auto Retail
Spain-based used car marketplace Niw is now working with more than 825 dealers nationwide, according to its president, Ignacio de Benito (LinkedIn profile)....
Damian Shore | February 28, 2023 | Automotive, Real Estate, Marketplaces, Financials / Deals
Operating revenue at the classified business unit of Spain-based Grupo Vocento rose by 14.1% year on year (y-o-y) to €28 million ($30 million U.S.) in 2022,...
Greg Spencer | February 27, 2023 | Automotive
Carmigo, a site that lets private owners auction their cars to dealerships, announced its 4,000th car sold in two years of operation. The company said it posted...
Ben Salisbury | February 27, 2023 | Automotive, Digital Auto Retail, Financials / Deals
British car supermarket group AvailableCar has signed a five-year agreement with Cox Automotive to dispose of used car stock. The deal involves AvailableCar...
Ben Salisbury | February 27, 2023 | Automotive, Digital Auto Retail, Financials / Deals
Major British car dealer Arnold Clark has acquired two of Cazoo’s customer handover centers, according to a report in Car Dealer Magazine. The website reports that...
Ben Salisbury | February 27, 2023 | Automotive, Financials / Deals
The company recorded total revenue of €38.5 million ($40.6 million U.S.), up 40% year-on-year and €40.6 million accounting for FY22 M&A on a 12-month basis....
Patrick Kosmider | February 27, 2023 | Automotive, Digital Auto Retail
Mobile.de, Germany's largest online car marketplace, has partnered with Freiburg-based car guarantee provider CarGarantie to provide those who purchase used cars...
Patrick Kosmider | February 27, 2023 | Automotive, Digital Auto Retail
Germany-based digital auto retailer Auto1 Group saw revenue rise by more than a third (36.8%) year-on-year (y-o-y) to €6.5 billion ($6.9 billion) in 2022,...
Prabhu | February 27, 2023 | Automotive
India-based used car marketplace CarDekho has onboarded Medulance, an ambulance service provider, to its platform. As a result, users of the CarDekho app and...
Léo Siqueira | February 26, 2023 | Automotive, Real Estate, Marketplaces, Financials / Deals
Revenue at MercadoLibre (Nasdaq:MELI), a Montevideo, Uruguay-headquartered e-commerce and classifieds company operating in a number of Latin American countries,...
Patrick Kosmider | February 25, 2023 | Automotive, Marketplaces, Digital Auto Retail
Germany-based dealership chain Autohaus Siebrecht, which is a partner of Opel, Peugeot, Citroën and Mitsubishi, is to launch an e-commerce platform called Echt...
Greg Spencer | February 24, 2023 | Automotive, Digital Auto Retail, Financials / Deals
Carvana capped a disastrous 2022 by posting its largest ever quarterly net loss, $806 million U.S., for Q4, while also recording its first annual decline in unit...
Damian Shore | February 24, 2023 | Automotive, Real Estate, Recruitment, Marketplaces, Financials / Deals
Revenue at Barcelona-based marketplaces horizontal Adevinta Spain rose 12% year-on-year (y-o-y) to €212 million ($224 million U.S.) in 2022. During Q4 2022,...
Tariq Ahmed Saeedi | February 24, 2023 | Automotive
The number of users at Egypt-based auto marketplace ContactCars grew 61% year-on-year in 2022, with average monthly users reaching 1.3 million, according to its...
Greg Spencer | February 23, 2023 | Automotive, Digital Auto Retail, Financials / Deals
U.S. autos site TrueCar posted a sixth consecutive quarter of revenue decline in Q4 2022, citing continued challenges with its success-based business model. The...
Greg Spencer | February 23, 2023 | Automotive, Financials / Deals
Cars.com finished 2022 with a fourth quarter of consecutive revenue growth, driven in part by sales of its new fintech and appraisal tools for dealers. Quarterly...
Ben Salisbury | February 23, 2023 | Automotive, Digital Auto Retail, Financials / Deals
U.K.-based digital auto retailer Cazoo continues to divest assets, disposing of data business Cazana for an undisclosed sum to an unnamed buyer, according to a...
Ben Salisbury | February 23, 2023 | Automotive, Digital Auto Retail, Financials / Deals
London-based auto financing company Carmoola has raised £8.5 million ($10.2 million U.S.) in a Series A funding round, alongside a £95 million ($115 million U.S.)...
