An online motors platform used by nine regional press publishers has been sold to a company specialising in automotive services.
Daily Mail and General Trust plc, parent company of Northcliffe Media, has sold its online car sales platform motors.co.uk to Manheim for an undisclosed sum.
Motors.co.uk has nine regional newspaper partners, with a combined reach of over 19m adults every week.
As well as Northcliffe they include Trinity Mirror, Iliffe News & Media, Midlands News Association, NWN Media, Scottish Provincial Press, Berkshire Media Group, Baylis Media Ltd and Archant.
Manheim chief executive John Bailey said: “The acquisition of Motors.co.uk is a significant and important investment for us and it fits perfectly within our evolving portfolio of products, particularly as the digital marketplace becomes ever more influential.”
“We have been watching the online classified business here in the UK for some time and we’ve had a growing presence in this important market with our own sites All Approved Cars and, more recently, Carmony.
“In just five years Motors.co.uk has built up a substantial presence and great reputation in the UK and the opportunity to acquire them has come at a perfect time for us, as we look to expand our services in this space.”
Motors.co.uk Chief Executive Garry Hobson said that the Manheim brand, coupled with the extent of its services and customer base would provide them with a unique platform on which to build the business.
All Motors.co.uk employees will transfer to Manheim and the business will sit within its Manheim Retail Services area however there are no immediate plans to change the day to day operations.
Listing on Motors.co.uk will be combined with those offered through Manheim’s ‘approved used car’ portal, Carmony.
Sign up for our free daily email bulletin
Follow HTFP on Twitter
Got a story? Email the Editor at editor@htfp.co.uk
Why an undisclosed fee? Is it business-speak for a token fee – buttons?
Report this comment
No-one is asking the obvious question on this – if all Northcliffe titles currently feed motors.co.uk via their local sales teams and their relationships with local motor dealers, then what happens now? Don’t bother asking Northcliffe MDs – they are as much in the dark as anyone else…..
Report this comment
Well, well, well!!!!!!!!!
I would hate to think how much time and money was thrown at motors by NML. They had ambitions of taking on you know who and when that failed to “own” at least 90% of the local online market – and when……
You know how the story goes by now.
Property, Motors, Recruitment. Three of the main in print and online verticals have now migrated to another place – one not owned by Northcliffe. So it appears not to be working in print – obviously online is the major growth sector – but for whom?
Report this comment