Why this British tech company is succeeding where Cazoo failed

cityam07-17

Since its inception in 2016, British tech company Motorway has rapidly grown to a team of about 500 people and sells around 1,000 cars a day. When the Covid-19 pandemic struck, it upended industries ...

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When the Covid-19 pandemic struck, it upended industries ...</p>\n\n<a href=\"https://www.cityam.com/why-this-british-tech-company-is-succeeding-where-cazoo-failed/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why this British tech company is succeeding where Cazoo failed</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy this British tech company is succeeding where Cazoo failed\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-17 21:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/why-this-british-tech-company-is-succeeding-where-cazoo-failed/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Since its inception in 2016, British tech company Motorway has rapidly grown to a team of about 500 people and sells around 1,000 cars a day. When the Covid-19 pandemic struck, it upended industries ...</p>\n\n<a href=\"https://www.cityam.com/why-this-british-tech-company-is-succeeding-where-cazoo-failed/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4122","symbol_name":"互联网与直销零售","start_time":0,"source_url":"https://www.cityam.com/why-this-british-tech-company-is-succeeding-where-cazoo-failed/","article_id":"2452163151","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2024/07/1c399422-d6bd-49ac-818e-962f9ef6d1f3.webp?w=824&h=463&crop=1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2452163151","pubTimestamp":1721224156,"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Since its inception in 2016, British tech company Motorway has rapidly grown to a team of about 500 people and sells around 1,000 cars a day. When the Covid-19 pandemic struck, it upended industries across the globe. Amid the chaos, the car resale market experienced an unexpected boom, with the value of used cars soaring due to a severe shortage of new vehicles. This shortage was largely driven by a disruption in the supply of essential components, such as microchips, while the Suez Canal block and other logistical challenges hampered the movement of cars.As consumers turned to used cars, it accelerated the growth of a small number of existing car resale companies, which were, for the most part, just spluttering into life. One of these was the British company Motorway.Since its inception in 2016, Motorway has rapidly grown to a team of about 500 people and sells around 1,000 cars a day.Motorway aims to solidify its position here before considering international expansion. “Things are a","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4122":"互联网与直销零售","BK4214":"汽车零售","CZOO":"Cazoo"},"translate_title":"为什么这家英国科技公司在Cazoo失败的地方取得了成功","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CZOO":1},"content_text":"Since its inception in 2016, British tech company Motorway has rapidly grown to a team of about 500 people and sells around 1,000 cars a day. When the Covid-19 pandemic struck, it upended industries across the globe. Amid the chaos, the car resale market experienced an unexpected boom, with the value of used cars soaring due to a severe shortage of new vehicles. This shortage was largely driven by a disruption in the supply of essential components, such as microchips, while the Suez Canal block and other logistical challenges hampered the movement of cars.As consumers turned to used cars, it accelerated the growth of a small number of existing car resale companies, which were, for the most part, just spluttering into life. One of these was the British company Motorway.Since its inception in 2016, Motorway has rapidly grown to a team of about 500 people and sells around 1,000 cars a day. \n\nWith over 5,000 car dealers using the platform, it has sold more than 0.5m cars to date.The story might sound familiar. Cazoo, which amassed an $8bn (£6.1bn) valuation in just three years, also saw a meteoric rise during the pandemic years. However, this came to a crashing halt when it collapsed into administration in May.Tom Leathes, Motorway co-founder and CEO (Image: Motorway) But Tom Leathes, co-founder and chief executive of Motorway, puts his company’s success down to a fundamentally different business model. \n\nUnlike Cazoo, it does not actually buy and sell cars. Instead, Motorway operates as a car marketplace, connecting buyers and sellers through an online platform. “This allows us to scale much more rapidly and efficiently,” he explained.The company currently handles about five per cent of all used car sales in the UK. Now, Leathes wants Motorway to become the best place to sell a car in the UK. “Our primary goal is to grow our market share and ensure that we’re servicing as many consumers and dealers as we can,” he told City A.M. \n\nMotorway aims to solidify its position here before considering international expansion. “Things are a little bit more stable now, after all that post-Covid stuff,” Leathes said. “But a lot of the behaviours that changed during that period have very much remained.”","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2452163151"}