eBay to buy car search site from Leeds group
Cox Automotive has revealed its intention to sell consumer-facing car search business Motors.co.uk to eBay.
The undisclosed deal will see the company join Gumtree UK, an eBay Classifieds business, if approved by the UK's Competition and Markets Authority (CMA).
eBay Classifieds' global portfolio includes Gumtree UK and Kijiji Canada as well as automotive specialists including Mobile.de in Germany and BilBasen in Denmark.
"The whole team at Motors.co.uk has done an incredible job growing the business, and it isn't surprising that it has attracted the attention of eBay, one of the world's most well-known e-commerce companies," said Cox Automotive UK CEO Martin Forbes.
"The deal with eBay is great news for Motors.co.uk and would enable the business, the brand and the team to grow under new ownership where the focus is more consumer-led."
Since its acquisition by Cox Automotive in 2012, Motors.co.uk has more than doubled its consumer audience and the number of vehicles it advertises.
It has also built a network of high-quality automotive sites including Topgear.com, Parkers.co.uk, Honest John, Autovillage and Raccars.co.uk. Combined, the Motors.co.uk network enables automotive retailers to reach more than 5.4 million unique visitors per month.
Matt Barham, general manager of Gumtree UK, added: "This acquisition would finally present a viable car selling and shopping alternative for car dealers and buyers.
"By combining Motors.co.uk's extensive inventory, dealer engagements, traffic and cutting-edge tools and services with the considerable audience of in-market car buyers provided by eBay and Gumtree, this acquisition would give UK car dealers a significantly broader reach."