cinch, the UK’s fastest-growing online used car marketplace, today announces plans to accelerate its growth with the launch of a state-of-the-art car preparation site.
The facility, which has capacity to prepare over 30,000 cars per annum, was previously used to prepare cars for Cazoo. The facility has been updated and will now exclusively be used to expand cinch’s UK offering.
cinch has recorded growth of 45% month-on-month and the new site unlocks capacity for continued growth in the months ahead as consumers continue to move to buying used cars online.
cinch was launched in October 2020 and is now the largest online B2C marketplace for used cars in the UK. cinch allows its c. 30 million unique visitors a year to part exchange their car and buy or finance quality-checked used cars fully online and have them delivered straight to their home.
cinch has established itself as one of the fastest growing consumer brands in the UK and a major sponsor of well-known sports teams and events such as the England Cricket team, Tottenham Hotspur, the Northampton Saints or the upcoming tennis cinch Championships at The Queen’s Club
The new Corby site will employ 200 specialist car mechanics, paint technicians, quality inspectors and support staff, making cinch one of the biggest employees in the area.
Avril Palmer-Baunack, executive Chairman of Constellation Automotive Group, said:
“I am delighted to open this facility in Corby and that so many skilled colleagues will now be preparing cinch cars for sale online.
“cinch has grown significantly over the last eight months and has reached an annual sales rate of 45,000 cars. However, this is just the beginning, with over 7.5m used cars sold per annum in the UK and only 1% sold fully online.
“The used car market is at the beginning of massive digital transformation. By expanding the infrastructure available to us we will enable the next phase of digital growth for us and our partners such as dealers, car manufacturers or leasing companies.”
Constellation Automotive Group, which also owns webuyanycar and BCA, recently raised over £1bn to turbocharge cinch’s growth across the UK and Europe.
The funds will be used to provide the group with the resources to accelerate cinch’s expansion and continue its extensive investments in people, technology, data science, infrastructure and brand building.