Bmx Bandits 52 Posted January 18, 2023 8 hours ago, trade vet said: 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. What makes it even more unbelievable is they are proposing closing the prep center's they have recently paid an absolute fortune for!! Didn’t they spend something like £70 million to buy 6 of them?!! It’s very hard to see how this is going to end well! I do feel sorry for all the people who will be losing their jobs while the kingpins at the top who couldn’t organise a p*ss up in a brewery, get to keep their jobs and will no doubt continue to pay themselves large bonuses. I can’t wait until they inevitably need to go to the market and try and borrow more money to keep the lights on for another 6 months or so. In the current climate I can’t see many takers. 2 Share this post Link to post Share on other sites
TRADE SURVIVOR 33 Posted January 21, 2023 Well Mr Chestnut (see what I did there) set out to revolutionise the motor trade, really? So far it seems the only revolution has been to burn money on a scale that no self respecting motor dealer could imagine in my memory. Seems like whoever he has hired at the top to grow the business hasn't a clucking foo. Hopefully the people who are being let go as they say, are reemployed in the real motor trade. Maybe we have reached a point with Cazoo when it's not if but when. 2 Share this post Link to post Share on other sites
Halfpenny 114 Posted January 21, 2023 (edited) On 1/21/2023 at 1:24 AM, TRADE SURVIVOR said: Well Mr Chestnut (see what I did there) set out to revolutionise the motor trade, really? So far it seems the only revolution has been to burn money on a scale that no self respecting motor dealer could imagine in my memory. Seems like whoever he has hired at the top to grow the business hasn't a clucking foo. Hopefully the people who are being let go as they say, are reemployed in the real motor trade. Maybe we have reached a point with Cazoo when it's not if but when. Carzam, Cazoo, Cinch, Carvana.......Hmm... I think we can now safely say that their online model for used car retailing has been tested to destruction! The only 'disruption' is to their investors bank balances. Used car values have confounded my expectations so far, but I think that with rising interest rates and a likely recession on the horizon there is a reckoning coming. I gather used car demand/prices have started to drop quite sharply in USA. If mirrored in the UK that would be a stake through the heart of Cazoo.. Edited January 22, 2023 by Halfpenny Share this post Link to post Share on other sites
Bmx Bandits 52 Posted January 21, 2023 (edited) 5 hours ago, Halfpenny said: Carzam, Cazoo, Cinch, Carvana.......Hmm... I think we can now safely say that their online model for used car retailing has been tested to destruction! The only 'disruption' is to their investors bank balances. Used car values have confounded my expectations so far, but I think that with rising interest rates and a likely recession on the horizon there is a reckoning coming. I gather used car demand/prices have started to drop quite sharply in USA. If mirrored in the UK that would be a steak through the heart of Cazoo.. Your spot on with the disruption to investors bank balances!!! Used car prices are an interesting one though, I can’t help but think that if the recession and fall in consumer demand continues to hit sales of new electric cars, just as it would appear that supply of these electric cars starts to increase. Then there will be massive pressure from the manufacturers and main dealers for another government scrappage scheme. Tesla has already dropped prices and I’m sure others will be following, manufacturers would much rather hide their discounts in a scrappage type deal than straight off list prices to help protect their residual values for those all important lower monthly payments and the government could save (environment) face with an increase in uptake of electric cars and polluting older cars taken off the road. In which case rather than fall used prices might actually stay very strong as once again really nice good quality low mileage older cars are removed from the road again. Edited January 21, 2023 by Bmx Bandits 1 Share this post Link to post Share on other sites
It's me 615 Posted February 1, 2023 latest news from James today nearly had me fall off my chair what a nice company to deal with had 2 cars back today, minor niggles both sorted as customers waited, no charge and off they went, how much new blood will that get me? lots I would think Share this post Link to post Share on other sites
petrol head 46 Posted February 1, 2023 Can only be a matter of time before they are delisted? They consistently fail to underhand the market and that will cost them. Share this post Link to post Share on other sites
It's me 615 Posted February 24, 2023 I see they are starting afire sale I've just looked at the Longbenton site and there's lots of cars parked on grass in a field Share this post Link to post Share on other sites
It's me 615 Posted March 11, 2023 Big news early next week I feel Share this post Link to post Share on other sites
trade vet 702 Posted March 12, 2023 11 hours ago, It's me said: Big news early next week I feel Big news last week,having blown several hundred million borrowed from pension funds,the penny must have dropped for these amateurs running Cazoo ,I see they have appointed a professional car dealer to salvage the business. 2 Share this post Link to post Share on other sites
petrol head 46 Posted March 13, 2023 (edited) Share price closed 32% up @$2.62, be interesting to see what happens when the market opens shortly. Edited March 13, 2023 by petrol head Share this post Link to post Share on other sites
trade vet 702 Posted March 13, 2023 5 hours ago, petrol head said: Share price closed 32% up @$2.62, be interesting to see what happens when the market opens shortly. The shares were originally issued at about $10 and evaporated into cents , so to avoid being thrown off the stock exchange,shareholders were then given one new share for every 20 old shares they held.So at $2.62 I think shareholders are down about $197 per share ! I think they bank with SVB which has just been rescued by HSBC. I agree with It’s Me ,how long before they pull the plug to stop them flogging off more assets.All the ingredients for a Netflix Documentary ! Share this post Link to post Share on other sites
It's me 615 Posted March 31, 2023 what a brilliant idea, buy an ex car dealership fill it with motors and let customers view them, once purchased they can be delivered, a great great idea well done Peter vardys doing the job just like me and thousands of others selling used cars (sorry formerly owned horseless carriages) and putting the customer first thanks james great update Share this post Link to post Share on other sites
TRADE SURVIVOR 33 Posted March 31, 2023 (edited) 8 hours ago, It's me said: what a brilliant idea, buy an ex car dealership fill it with motors and let customers view them, once purchased they can be delivered, a great great idea well done Peter vardys doing the job just like me and thousands of others selling used cars (sorry formerly owned horseless carriages) and putting the customer first thanks james great update Careful you might give Mr Chesterfield an idea for a business model that actually works Absolutely sweet deal for Peter Vardy picking up a great site from the man who was deriding the retail motor trade as not fit for purpose! Not all dinosaur's became extinct some evolved into motor dealers and we have been around for a wee while now and will be for some time to come. Grrrrr Mr Chesterfield Edited March 31, 2023 by TRADE SURVIVOR typo Share this post Link to post Share on other sites
It's me 615 Posted May 1, 2023 (edited) https://spactrack.io/spac-detail/?symbol=CZOO Edited May 1, 2023 by It's me Share this post Link to post Share on other sites
trade vet 702 Posted May 14, 2023 3 hours ago, BHM said: BUY! BUY! Howdy Doody ! Share this post Link to post Share on other sites
It's me 615 Posted May 16, 2023 1dolla 30 yesterday thanks James for the latest news I've spent my life never talking down business or people if they tried but failed but this cazoo played a whole different tune and I never liked the sounds Share this post Link to post Share on other sites
TRADE SURVIVOR 33 Posted May 16, 2023 9 hours ago, It's me said: 1dolla 30 yesterday thanks James for the latest news I've spent my life never talking down business or people if they tried but failed but this cazoo played a whole different tune and I never liked the sounds Always thought a Cazoo was something you blew hot air into to produce a sound like a duck farting or perhaps the cry in it's last throws of life. Share this post Link to post Share on other sites
It's me 615 Posted May 17, 2023 20 hours ago, TRADE SURVIVOR said: Always thought a Cazoo was something you blew hot air into to produce a sound like a duck farting or perhaps the cry in it's last throws of life. I couldn't afford a cazoo as a kid so I used my comb and a sheet of izal Share this post Link to post Share on other sites
It's me 615 Posted May 23, 2023 not so lazer focused today I see Share this post Link to post Share on other sites
petrol head 46 Posted July 14, 2023 What’s going on with the share price down at $1.18 earlier this week and now at $1.54? Share this post Link to post Share on other sites
trade vet 702 Posted July 14, 2023 6 hours ago, petrol head said: What’s going on with the share price down at $1.18 earlier this week and now at $1.54? I doubt this 40 cent rise signifies any upturn .You have to consider that they were floated at $10 .When they collapsed to $1 ,in order to continue they had to do a ‘reverse consolidation’ or something which meant that for every 20 shares held,they then became 1 share.There might be people out there who still own shares which stand them $200 dollars each.Looking forward to a Netflix documentary about amateur car dealers Cazoo and possibly Cinch ( lost £200m ) and now Car Wow after they have all gone ‘tits up ‘ .Unfortunately when this happens,it could make it more difficult for proper car dealers to get funding……..Rant over ! 1 Share this post Link to post Share on other sites
petrol head 46 Posted July 15, 2023 17 hours ago, trade vet said: I doubt this 40 cent rise signifies any upturn .You have to consider that they were floated at $10 .When they collapsed to $1 ,in order to continue they had to do a ‘reverse consolidation’ or something which meant that for every 20 shares held,they then became 1 share.There might be people out there who still own shares which stand them $200 dollars each.Looking forward to a Netflix documentary about amateur car dealers Cazoo and possibly Cinch ( lost £200m ) and now Car Wow after they have all gone ‘tits up ‘ .Unfortunately when this happens,it could make it more difficult for proper car dealers to get funding……..Rant over ! Good point Mate. I think with both Cazoo and Cinch, the latter to a lesser degree it’s about the sizzle and not the steak. It will baffles me that people were hooked winked into thinking Cazoo was worth 10 times the value of Jardine Motor Group, or Marshall’s for that matter. They did nothing an ordinary dealer could do 50 years ago, save for buying on line. The exchange program etc is law when it’s a distance sale. Now they have launched Cazoo wholesale and are established dealers going to deal with them? I think so as they still deal with BCA! Share this post Link to post Share on other sites
