eBay has announced that it has signed an agreement with Cox Automotive to acquire Motors.co.uk. Subject to deal close, Motors.co.uk would become part of Gumtree UK, an eBay Classifieds business. The acquisition would jointly position Motors.co.uk, Gumtree UK, and eBay Motors UK — which together offer more than 620,000 car listings — as a leading alternative to the Auto Trader. The move builds on the joint offering of Gumtree UK Motors and eBay UK Motors that launched in January 2018, enabling automotive dealers in the UK to easily reach customers on both platforms and gives buyers access to more listings.
Martin Forbes, CEO of Cox Automotive, said: “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.”
The transaction is subject to regulatory approvals in the UK and other closing conditions, and is expected to close before the end of Q1 2019.