eBay completes acquisition of online car search business
eBay has completed the acquisition of Motors.co.uk, which is consumer-facing car search business from Leeds-based Cox Automotive.
The deal, which recently received approval by the Competition and Markets Authority (CMA), will see Motors.co.uk join Gumtree UK, an eBay Classifieds business.
Together with eBay Motors UK, the combined businesses will offer more than 620,000 car listings across these platforms
Since its acquisition by Cox Automotive in 2012, Motors.co.uk more than doubled its consumer audience and the number of vehicles it advertises.
Motors.co.uk also built a network of automotive sites including Topgear.com, Parkers.co.uk, Honest John, Autovillage and Raccars.co.uk.
Matt Barham, general manager of Gumtree UK, said: “This acquisition would finally present a viable car selling and shopping alternative for car dealers and buyers.
“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.”
Martin Forbes, CEO of Cox Automotive, added: “The whole team at Motors.co.uk has done an incredible job growing the business, and 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. For Cox Automotive, it would enable us to focus on building upon our strengths in the wholesale market and in supporting dealers, OEMs, Fleet and Leasing customers with a “connected retail” proposition.”
