The sale of Motors.co.uk from Cox Automotive to eBay has now been completed following clearance from the Competition and Markets Authority (CMA) in the UK.
Motors.co.uk will report into Gumtree UK which is part of the eBay Classified Group. This group includes automotive specialists such as Mobile.de in Germany and Bilbasen in Denmark, as well as Gumtree Motors and eBay Motors in the UK. Automotive is a key focus for eBay globally and the acquisition of Motors.co.uk is an important part of this strategy.
Commenting on the sale, Phill Jones, managing director of Motors.co.uk said: “The vision of this deal is clear: to create a vehicle advertising platform of significant size by aligning the automotive expertise of Motors.co.uk with the vast scale, resources and consumer reach of Gumtree and eBay. However, it is only now that the deal has completed that we are able to begin planning the specifics of how this is delivered.
The deal has completed at a time when we are generating more response than ever for our advertisers and we are continuing to release new products that meet the wants and needs of car buyers and sellers. This is a great time to be part of the Motors.co.uk journey, and we are proud to work with so many of the UKs leading automotive retailers.”
You can read the official press release from eBay here.