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Has the online used car retail bubble burst or have the UK’s established car retailers’ disrupted disruptors like Cazoo and Carzam with their ability to evolve and adapt to cater for the digital car buyer?
Carzam founder Peter Waddell has blamed the faltering performance of online-only car retail businesses including Cazoo for the venture’s failure.
Former Paddy Power and Lastminute.com tech expert Edgardo Savoy has joined the “fiercely ambitious” team at online car retailer Carzam as chief technology officer.
Carzam has raised £112 million to in a development that the online car retail business believes will propel it into its “next chapter”.
5 people found this useful The COVID-19 pandemic and series of lockdown restrictions on car showrooms have “changed customer behaviour for good”, according to online retailer Carzam. But, despite the shift towards digital purchases, the business headed up by Big Motoring World founder and chief executive, Peter Waddell, and backed by former Cox Automotive International president John Bailey, recorded its best month yet after ‘Lockdown 3’ restrictions were lifted. Carzam launched its online offering in December last year but saw its strongest ever weekly performance after trading recom...