trade vet 663 Posted August 2 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. 1 Share this post Link to post Share on other sites
Bmx Bandits 43 Posted August 2 (edited) 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 by Bmx Bandits 2 1 Share this post Link to post Share on other sites
Lazz 16 Posted August 4 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. Share this post Link to post Share on other sites
petrol head 39 Posted yesterday at 03:02 PM 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 Share this post Link to post Share on other sites
