Online car retailer Cazoo has appointed Abhishek Roy as its European managing director.
Roy brings 15 years of industry experience to the role, having recently led the sale of Nordic ecommerce platforms, dba and bilbasen, where he was chief executive to the Schibsted Media Group. He has also been chief product officer at mobile.de and held several strategy and operations roles at eBay Europe. Roy will join the Cazoo executive team and report to Cazoo’s Group chief operating officer Paul Whitehead. He will be responsible for overseeing Cazoo’s launch and expansion into the European market.
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Commenting on his appointment, Roy said: “Cazoo has seen phenomenal growth and consumers have embraced the selection, transparency and convenience of buying and selling quality used cars entirely online. I am incredibly excited to be joining the Cazoo team to help create a world-class organisation across Europe that delivers consumers with an exceptional digital car buying and selling experience.”
Cazoo founder and chief executive Alex Chesterman said he was “delighted” to welcome Roy into the company.
“His experience in European automotive marketplaces and his understanding of the importance in creating and delivering exceptional customer experiences is a great match for us as we look to grow our team and deliver the best car buying and selling experience for consumers across Europe,” said Chesterman.
Cazoo has sold over 35,000 cars in the UK since its launch less than 2 years ago. In the past six months, the company completed three acquisitions, launched a car subscription service in the UK, and scaled buying and operations in Germany and France ahead of launch later this year.
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By GlobalDataThe announcement follows the company releasing its results for the first half of 2021, in which it reported a record 521% increase in revenue.
Commenting on the results, Chesterman said: “We achieved record results in H1 with continued strong growth in revenue and gross profit per unit. Consumers continue to embrace the selection, transparency and convenience of buying cars entirely online, generating record revenue of £248m during the half, up 521% year on year.
“Our gross profit per unit grew substantially during the first half, up £670 year on year, as a result of continued operational improvements. We expect operational efficiencies to continue to drive further gross margin improvement and we remain on track to achieve revenue approaching $1bn in 2021.”
