Cazoo to go live this week
01 December 2019
Almost exactly a year after it was founded, Cazoo, the online used car retailer, will see its website start to sell cars this week. Sources close to the project have told Auto Retail Agenda this could be as soon as Monday or Tuesday (2 or 3 December).
Cazoo was founded by Alex Chesterman, the entrepreneur behind property sales platform Zoopla. The firm has raised £55 million in funding and is launching two months later than it originally stated.
The online used car dealer is understood to have stockpiled more than 3,000 cars ready for the launch.
Cazoo aims to retail, lease and finance cars online, deliver them to a buyer’s home within 48 hours, and will offer a seven-day no charge return policy. Under distance selling regulations, consumers buying goods online have the right to cancel their order up to 14 days after delivery.
A Cazoo spokesman would not confirm the exact launch day, saying only that it would make a statement on Monday.
Richard Hollis, Jardine Motors’ head of used cars, speaking at the Vehicle Remarketing Association conference last week and commenting on Cazoo’s entry to the market, welcomed the new player as it would raise the awareness of online used car sales for the whole industry.
“There’s a lot of consumers today who are not aware that there’s a different way of acquiring a vehicle. Especially in the used market. And potentially somebody like a Cazoo who, I can only assume are going to spend quite a lot of money building that brand will educate the consumer that there is a different process to go through and I think that’s good news that every single car dealer. If that consumer gets more knowledge that we can actually do things this way.”
UPDATE Monday 2 December: Cazoo has gone live this morning. The online used car dealer is showing 1,660 searchable cars.