Profits at WeBuyAnyCar almost halved after a boom in demand for used cars fizzled out, the company said.
The group, which has more than 500 sites, made £85 million on turnover of £3.5 billion in the year to April 2023, according to accounts filed on Companies House.
But this was down from profit of £158 million and revenues of £5.2 billion during the previous 12 months, which the business described as an ‘extraordinary’ year ‘driven by exceptional demand in the used car market’.
In the slow lane: Profits at WeBuyAnyCar almost halved after a boom in demand for used cars fizzled out, the company said
WeBuyAnyCar is part of car auctioneer BCA Marketplace, which is owned by private equity firm TDR Capital.
TDR snapped up BCA Marketplace for £1.9 billion in 2019. BCA’s chief executive is Avril Palmer-Baunack, 59.
She made headlines in 2018 when she received a £29 million bonus for her work at the group, which at that time was still listed on the stock market.
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