eBay has acquired online used car business Motors.co.uk following approval from the Competition and Markets Authority.
A statement issued by eBay revealed that the Motors.co.uk team had joined Gumtree UK, an eBay Classifieds business, as part of a merger which will offer more than 620,000 online car listings.
The acquisition of Motors.co.uk, previously owned by Cox Automotive UK, follows the earlier integration of Gumtree Motors with eBay in January 2018.
Matt Barham, general manager of Gumtree UK, said: 鈥淥ur customers have been crying out for a value alternative to other players in the industry, and we have listened to their feedback to provide the perfect place to grow an automotive business.
鈥淥ur new-look motors proposition provides added value to dealers thanks to far-greater advertising efficiency.
鈥淲e are completely committed to the success of our all our dealers and are confident this will increase their chances of making a sale; whether they have 10 cars or 5,000.鈥�
The sale of the Motors.co.uk business,聽first announced in October 2018聽by Cox Automotive, comes just a month after it joined forces with Auto Trader to drive the growth of its Dealer Auction platform.
Martin Forbes, chief executive of Cox Automotive, said: 鈥淭he completion of this deal is great news for Motors.co.uk.
“Under the new ownership of eBay, a business renowned for its strong consumer-led focus, I have full confidence that Motors.co.uk will further accelerate its growth and increase its share of the automotive classified marketplace.
鈥淭his transaction enables Cox Automotive UK to focus its resources and assets in developing our 鈥楥onnected Retail鈥� proposition and build upon our strengths in the wholesale market, both physical and digital, especially with the launch of the new 鈥楧ealer Auction鈥� Platform, which will improve the speed of sale and profitability for vendors, and give buyers access to the UK鈥檚 largest wholesale marketplace鈥�.