Cazoo doing well ?

[trade vet 703]

Best trade bullshit I have heard in over 50 years.Cazoo top guy has stated he is very proud of their latest results,losing £240m in 6 months which I think equates to losing 5 grand per sale.Shares now 50 cents,down from 10 dollars.This guy might be better off going into hiding.You guys make sure to tell your punters to steer clear.

 

[Bmx Bandits 52]

These figures are pretty shocking and made even worse but the continual impressive results being released from the established dealer groups - yes the same ones that where being written off due to the market changing potential of this disruptor!!

With the chances of recession appearing to be increasing daily and the dire results, it’s no surprise the Chief financial officer is exiting stage left/been given the boot.
 

With such a decline is share price since listing they are going to find it really hard and expensive to borrow any more money; so no wonder they have started a European business review. Their cash burn has been out of this world and needs to be cut quickly. The problem is trying to cut costs/staff/sites quickly is normally very expensive!! 

I’m sure they will also start spending big trying to manipulate their share price to  put off getting delisted, so expect paid for research, lots of positive spin announcements from the board and pumping going on. Can only see that putting of the inevitable for so long before they have to turn the lights off. 
 

A good friend with an Italian wife pointed out that Cazzo in Italian is not the sort of name you would give any company!!  Worth googling “cazzo  collins dictionary”  for a laugh! 

Edited August 2, 2022 by Bmx Bandits

[It's me 615]

I looked

[Lazz 16]

At their present profit per unit they do not have a sustainable business and if they carry on as they are, it will not be if they go out of buisness but when.

[petrol head 46]

I think this is a failure in their purchasing processes rather than deliberately selling accident damaged cars, or just not having experienced people?

https://cardealermagazine.co.uk/publish/cazoo-and-cargiant-sold-written-off-used-cars-to-unsuspecting-buyers/269936

 

 

[petrol head 46]

I think the end is near:

https://cardealermagazine.co.uk/publish/cazoo-to-pull-out-of-mainland-europe-to-focus-on-uk-market/271241

[It's me 615]

[David Horgan 564]

35 minutes ago, It's me said:

 Not very nice thinking like that and laughing at poor Cazzoooooooo 

 

 

 

 

 

Ok it is I agree 

[petrol head 46]

Looking at their latest results, any downturn in the market and they are in deep trouble.

I'm interested to know where they source their cars?

[trade vet 703]

On 8/2/2022 at 2:01 PM, trade vet said:

Best trade bullshit I have heard in over 50 years.Cazoo top guy has stated he is very proud of their latest results,losing £240m in 6 months which I think equates to losing 5 grand per sale.Shares now 50 cents,down from 10 dollars.This guy might be better off going into hiding.You guys make sure to tell your punters to steer clear.

 

Shares down 36% yesterday to 13 cents,are they not trading illegally by losing all these millions,do they not have a duty to enter administration or Chapter 11 Protection or whatever they call it in the US .Are punters not at risk and where is the FCA.

[It's me 615]

On 12/17/2022 at 11:27 AM, trade vet said:

Shares down 36% yesterday to 13 cents,are they not trading illegally by losing all these millions,do they not have a duty to enter administration or Chapter 11 Protection or whatever they call it in the US .Are punters not at risk and where is the FCA.

not while they still have funds I see they still do the 90 warranty how fan doodi doozi or £379 a year to extend it,who wouldn't eh

[petrol head 46]

You know the well used line that the definition of insanity it doing the same thing and expecting to a different result?

In context of Cazoo simply say post COVID the market has changed and we have to adopt a new business model which allows customers to see the car!

[It's me 615]

On 12/20/2022 at 2:13 PM, petrol head said:

You know the well used line that the definition of insanity it doing the same thing and expecting to a different result?

In context of Cazoo simply say post COVID the market has changed and we have to adopt a new business model which allows customers to see the car!

how very dare they

[petrol head 46]

And now the end is near:

https://cardealermagazine.co.uk/publish/nyse-suspends-trading-in-cazoo-warrants-and-starts-delisting-proceedings/277083

[It's me 615]

Id love a final curtain 

[metcars 397]

https://m.youtube.com/watch?v=PjiWAMWt6og

Edited January 5, 2023 by metcars

[trade vet 703]

Looking forward to the next press release from the Cazoo guy . Something like ‘ we would like to thank NYSE for their support,we continue to meet our projections with increased cash flow,lower carbon footprint,and our upgraded health and safety programme .Our  latest modern slavery mission statement emphasises the strong beliefs we have while driving the company forward.The company is in good hands.’ Etc etc

[It's me 615]

6 hours ago, trade vet said:

Looking forward to the next press release from the Cazoo guy . Something like ‘ we would like to thank NYSE for their support,we continue to meet our projections with increased cash flow,lower carbon footprint,and our upgraded health and safety programme .Our  latest modern slavery mission statement emphasises the strong beliefs we have while driving the company forward.The company is in good hands.’ Etc etc

yes I found that interesting too

reminds me of the game where the whack a moles aren't named because they might go on to other arcade games

[Bmx Bandits 52]

8 hours ago, trade vet said:

Looking forward to the next press release from the Cazoo guy . Something like ‘ we would like to thank NYSE for their support,we continue to meet our projections with increased cash flow,lower carbon footprint,and our upgraded health and safety programme .Our  latest modern slavery mission statement emphasises the strong beliefs we have while driving the company forward.The company is in good hands.’ Etc etc

You forgot to include ………he has the full support of the board which is made up of at least 50% Female/LGBTQ+ 

 

 

[petrol head 46]

It's all very well looking to disrupt the market, but do your research first, it would have told you more than 80% of people want to see the car they are buying................

Failing to under customer needs have been the domain of manufacturers, particularly the prestige German ones, for years, the agency model is likely to be yet another one. 

[trade vet 703]

Now Cinch have reported a £149m loss.You have got to laugh,serves BCA right for copying Cazoo .Most of their best sources of stock is hedged at 95% of Cap and has been doing at least a grand over Cap.So with their additional huge buyers fees they must have been netting at least £1500 per entry through the block with no prep,comebacks or advertising .So those dickheads who thought they could do better per unit by retailing should get their P45.You cannot make it up.

[It's me 615]

2 hours ago, trade vet said:

Now Cinch have reported a £149m loss.You have got to laugh,serves BCA right for copying Cazoo .Most of their best sources of stock is hedged at 95% of Cap and has been doing at least a grand over Cap.So with their additional huge buyers fees they must have been netting at least £1500 per entry through the block with no prep,comebacks or advertising .So those dickheads who thought they could do better per unit by retailing should get their P45.You cannot make it up.

to be fair that's only 3 mill a week dear boy

[trade vet 703]

On 1/5/2023 at 1:17 PM, trade vet said:

Looking forward to the next press release from the Cazoo guy . Something like ‘ we would like to thank NYSE for their support,we continue to meet our projections with increased cash flow,lower carbon footprint,and our upgraded health and safety programme .Our  latest modern slavery mission statement emphasises the strong beliefs we have while driving the company forward.The company is in good hands.’ Etc etc

So the founder and Chief Honcho has been removed.However,no worries and in order to ‘reset their top line ( not bottom line ) ambitions ‘and to ‘ maximise their cash runway ‘,they have created a new strategy —— close down prep centres which probably means sacking fitters,painters and valeters and ‘Bob’s your uncle ‘.  You cannot make it up.

[petrol head 46]

On 1/6/2023 at 3:16 PM, trade vet said:

Now Cinch have reported a £149m loss.You have got to laugh,serves BCA right for copying Cazoo .Most of their best sources of stock is hedged at 95% of Cap and has been doing at least a grand over Cap.So with their additional huge buyers fees they must have been netting at least £1500 per entry through the block with no prep,comebacks or advertising .So those dickheads who thought they could do better per unit by retailing should get their P45.You cannot make it up.

As a group they still lost money, I think as the market is cooling and other dealer groups look at the conflict of interest by using BCA to remarket their units, they could be in for a very rocky ride. 

Add to this the competition to buy units from Motorway etc and the WBAC models is under pressure. 

[It's me 615]

just read James article and I think the big bang is coming sooner than I thought

thanks james