Ebay’s acquisition of Motors.co.uk given green light
Ebay’s acquisition of Motors.co.uk from Cox Automotive has been given the green light by the Competition and Markets Authority (CMA) today.
Last year, on 19th October, it was announced that eBay would be acquiring the car classifieds site, so long as it was given approval by the authority.
The CMA has gone on to say: “The CMA has cleared the anticipated acquisition by eBay Inc of Motors.co.uk Limited. The full text of the decision will be available soon.”
As a result of the transaction, we believe car dealers would be able to increase their sales leads and, at the same time, give their consumers more choice and value.
– Gumtree UK spokesperson
The merger means that the combined group of Motors.co.uk, Gumtree Motors and eBay Motors, all of which are now owned by the same company, will now have more listings than its next largest rival, AutoTrader.
Between them, the three sites will offer over 620,000 car listings, reaching over 10 million people. Competitor AutoTrader has around 500,000 listings on its platform.
Once all of the conditions are met, the merge between Motors.co.uk and eBay’s Gumtree Motors business will be completed.
A Gumtree UK spokesperson said: “We welcome today’s decision by the Competition and Markets Authority (CMA) to approve eBay’s proposed acquisition of Motors.co.uk from Cox Automotive. As a result of the transaction, we believe car dealers would be able to increase their sales leads and, at the same time, give their consumers more choice and value.”