Gains on the slow path at WeBuyAnyCar after huge demand for used cars fades
Profits at WeBuyAnyCar nearly halved after strong demand for used cars faded, the company said.
The group, which has more than 500 locations, made £85m on a turnover of £3.5bn in the year to April 2023, according to reports filed at Companies House.
But this was down on profits of £158m and sales of £5.2bn in the previous twelve months, which the company described as an “extraordinary year” driven by exceptional demand in the used market cars’.
On the slow road: Profits at WeBuyAnyCar nearly halved after huge demand for used cars faded, the company said
WeBuyAnyCar is part of car auctioneer BCA Marketplace, owned by private equity firm TDR Capital.
TDR acquired BCA Marketplace in 2019 for £1.9 billion. BCA’s CEO is Avril Palmer-Baunack, 59.
She made headlines in 2018 when she received a £29 million bonus for her work at the group, which was still listed on the stock exchange at the time.