eBay has completed its acquisition of Motors.co.uk, after announcing its plans to purchase the online venture in October last year.
The UK-based site that makes the process of selling and buying a car online intuitive and simple has joined eBay’s stable of businesses, following Gumtree’s acquisition of Motors.co.uk.
As an eBay Classifieds business, Gumtree’s purchase of the car site will bring the company’s total number of car listings across its network of sites to more than 620,000, encompassing Motors.co.uk, eBay Motors UK and Gumtree UK.
eBay originally announced its plans to acquire the classifieds company in October 2018, with the General Manager of eBay in the UK, Matt Barham saying that the automotive vertical would be a valuable addition to the eBay family.
“This acquisition [will] finally present a viable car selling and shopping alternative for car dealers and buyers,” he said in a statement at the time. “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.”
The CEO of Cox Automotive, the former owner of Motors.co.uk said: “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.”
Never miss our best stories. Sign up for Power Retail’s free weekly newsletter and find our daily stories on Facebook, Twitter, LinkedIn, and Instagram.