Cazoo was launched with a Stock Market valuation of $8 Billion
It has closed down European operations, it has cut back staff and now it has cut it's expectation on UK sales by about 1/3rd! 22 depots to be slimmed down to 7
What worked during Covid does not seem to be such a good idea today - competitors deliver cars, old style garages give a chance to sit in the car, drive the car, engage in the cost of change negotiations................
Higher 2nd hand prices, higher interest rates and tightening of household budgets hasn't helped.
uk.finance.yahoo.com/news/cazoo-axes-jobs-slashes-sales-121509534.html
|
Cazoo loses 93% of it's value new