Company statement

Given the degree of change expected in the wholesale and retail used car markets, Cox Automotive UK has confirmed its strategy and approach.

Martin Forbes, President of Cox Automotive International, said: “We have been asked by a number of dealers, manufacturers and fleet companies about the company’s intentions in the retail sector. Our strategy is clear – our focus is on B2B and we have no plans to retail vehicles. We firmly believe it is crucial to remain independent and support retailers in navigating increasingly digital retail and wholesale environments - we do not want to enter a position conflict of interest with our customers. We have ambitious growth plans in the UK market, as our recent acquisition of vehicle services business CWL showed, and will be investing further to build our capability, scale and scope of physical and digital services to meet the changing needs of the automotive marketplace.”