Tesco closes second-hand car business
By John Reynolds, marketingmagazine.co.uk, Wednesday, 04 April 2012 09:12AM
Tesco's chief executive Philip Clarke has closed its second-hand online car business after a year of trading to concentrate on the retailer's core business.
Tesco launched the joint venture with Carsite to great fanfare a year ago and held a 25% stake.
The website offered thousands of used cars for sale. It is thought that Tesco was unhappy with the supply of second hand cars.
Another part of the Tesco empire, Tesco Home Services, which offered handyman services, has also closed.
Tesco's website said: "We started Tesco Cars in good faith and we always aim to do a good job for customers.
"However, following a review of the business model we and Carsite, our partner, have decided that we cannot offer customers a satisfactory range of vehicles and as a result, have decided it is right to close the business.
The closure comes at a difficult time for Tesco, which issued its first profit warning in January.
The business has also recently parted with UK boss Richard Brasher.
Follow John Reynolds on Twitter @johnreynolds10
This article was first published on marketingmagazine.co.uk
- ACCOUNT MANAGER - Branding Agency - FREELANCE / CONTRACT Royds Raphael £170 - £200 day rate / c£38k-£42k pro rata, London
- Digital Account Executive Twist Recruitment £18000.00 - £22000.00 per annum + benefits, City of London
- Account Manager / Senior Account Manager Blue Tree Recruits £30,000 - £35,000, Guildford, Surrey
- Account Director Blue Tree Recruits £40,000 - £50,000, Central London
- Junior Artworker Blue Tree Recruits £18,000 plus benefits , Theale, Reading
- Tesco Clubcard uses Twitter to pick out Christmas gift ideas
- Samsung launches first Christmas TV campaign in the UK
- O2 launches 'walk' campaign with Ed Sheeran
- BBH London promotes Caroline Pay to deputy ECD
- ASA bans 'strongly sexual' Giffgaff ad
- Hammerson uses automated mechanical model to showcase Christmas gifts