Peter Vardy expands used car operations

1st January 2021
Peter Vardy expands used car operations

Peter Vardy expands used car operations with new brand and increased digital and physical footprint as it targets 100% growth:

Peter Vardy Ltd have today announced ambitious plans around the expansion of their used car operations, rebranded “Carz”. The ambitious plan will double the Group’s annual used car volumes. The group has already restructured to become a significant ecommerce operator, invested in its IT platform SilverBullet and has plans to invest in future sites nationally making it a physical and digital force. In July 2021 their current Vauxhall sites will be converted into used car supermarkets.

Peter Vardy, Chief Executive said: “We have been working on this growth strategy for some time, however the events of this year have meant we have fast tracked these plans. There has been a significantly increased level of demand for used vehicles which along with challenges around the supply of new vehicles and with Brexit potentially making this even harder it makes sense to move our plans forward”

“Our CarStores have been extremely successful since launch and we will be turning our current Vauxhall sites into used car supermarkets as well as going through a full re-brand which we think will be a really exciting step”

In a joint statement from the 2 companies, they said: “Vauxhall Motors and Peter Vardy Ltd have been in discussion recently and now agreed a mutual and managed exit from each other which will take effect in mid-2021. Peter Vardy have been a long standing investor and valued partner of Vauxhall Motors but the industry is changing and evolving quickly which has resulted in the fact that the respective future strategies of the two companies lie in different directions. Both companies are working closely together to ensure that this decision is handled professionally for both parties in order to minimise any impact for Vauxhall customers.  The positive business relationship that has always existed between Vauxhall Motors and Peter Vardy Ltd will be essential over the next few months in order to ensure that happens.”

Peter added “Whilst we will no longer represent Vauxhall as a manufacturer in Scotland by the end of June 2021 we have enjoyed a great relationship with them across the years and they have been an integral part of our success and growth since we first launched as a single Vauxhall site in 2006 in Perth. We do believe however that our strategy to focus more on Used Car Supermarkets and luxury car brands is the right path for us to take now. We will of course be able to continue to service any Vauxhalls sold by us as our used car supermarkets will all become service centres as well which should give piece of mind to all of our current and future customers”

All of the Peter Vardy colleagues at their existing Vauxhall sites in Aberdeen, Dalgety Bay, Edinburgh, Kirkcaldy, Motherwell and Perth will have roles secured and given the ambitious growth plans we expect significant new roles to be created.

Peter said “the strength of our business is the people so it was vitally important that we were able to secure roles for all of our current colleagues. We expect to start a recruitment drive well ahead of July as this move is very much a growth plan with significantly increased sales numbers across the group as a result”.

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