Profits within the gradual lane at WeBuyAnyCar

On Jan 14, 2024

Updated: 11:49, 14 January 2024

Profits at WeBuyAnyCar nearly halved after a increase in demand for used automobiles fizzled out, the corporate stated.

The group, which has greater than 500 websites, made £85 million on turnover of £3.5 billion within the 12 months to April 2023, based on accounts filed on Companies House.

But this was down from revenue of £158 million and revenues of £5.2 billion in the course of the earlier 12 months, which the enterprise described as an ‘extraordinary’ 12 months ‘pushed by distinctive demand within the used automotive market’.

In the slow lane: Profits at WeBuyAnyCar almost halved after a boom in demand for used cars fizzled out, the company said

In the gradual lane: Profits at WeBuyAnyCar nearly halved after a increase in demand for used automobiles fizzled out, the corporate stated

WeBuyAnyCar is a part of automotive auctioneer BCA Marketplace, which is owned by non-public fairness agency TDR Capital.

TDR snapped up BCA Marketplace for £1.9 billion in 2019. BCA’s chief government is Avril Palmer-Baunack, 59.

She made headlines in 2018 when she obtained a £29 million bonus for her work on the group, which at the moment was nonetheless listed on the inventory market.

Some hyperlinks on this article could also be affiliate hyperlinks. If you click on on them we could earn a small fee. That helps us fund This Is Money, and preserve it free to make use of. We don’t write articles to advertise merchandise. We don’t permit any industrial relationship to have an effect on our editorial independence.