This Week’s Cazoo Story: £8m Profit Pre-NYC Launch

When we want to know what Alex Chesterman and his Cazoo chums are doing (because it affects every single person in the automotive retail sector) we often turn to Bloomberg, that Bible of all things fiscal.  And this week is no different.

Even a cursory glance tells us the facts and figures that impress the socks off us:

  • vehicles sold up 429% to 10,692 in Q2
  • revenue increased ~605% to ~£141 million driven by significant UK growth
  • gross profit positive at £8 million & margin improved to ~5% due to operational efficiencies

We also hear from other sources that Mr Chesterman and his gang might be considering launching on the New York Stock Exchange within weeks. This could value Cazoo as highly as $5 billion (with a ‘b’).

This is pretty heady stuff for a company that was only formed in 2018 and with the expressed mission to transform the car buying experience for consumers by providing better selection, quality, transparency, etc. 

We all know that Cazoo aims to make buying a car no different to any other product online today, where consumers can simply and seamlessly purchase, finance or subscribe to a car entirely online for either delivery or collection, in as little as 72 hours. The thing is, they’re brilliant at it and they’re getting bigger and better.

There ain’t no stopping them and we have all got to sit up and take notice.