Peter Vardy announces plans to expand its used car operations, soon to be rebranded “Carz”, in a move that will double the Group’s annual used car volumes.
The business 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 an even more significant physical and digital force. In July 2021, its 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.
A joint statement said: “Vauxhall Motors and Peter Vardy Ltd have been in discussion recently and have now agreed a mutual and managed exit from each other which will take effect in mid-2021.
“Both companies are working closely together to ensure that this decision is handled professionally for both parties 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 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Peter added “Whilst we will no longer represent Vauxhall as a manufacturer in Scotland by the end of June 2021, we have enjoyed a great relationship with it across the years and it has been an integral part of our success and growth since we first launched as a single Vauxhall site in 2006 in Perth.
“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.”
