Constellation Automotive Group (“Constellation”), Europe’s largest vertically integrated digital used car marketplace, today announces plans to create up to 500 new jobs and open an industry-leading academy with the acquisition of the former Rockingham Motor Speedway in Northamptonshire.
The £80m acquisition of what was once Europe’s fastest banked oval racing circuit will kickstart Constellation’s plans to develop a specialist automotive reconditioning and logistics centre along with an academy across the 200-acre site and its other existing 200 acres of sites in Corby.
The new expanded Corby estate will have the capacity to prepare over 100,000 cars a year for sale and store over 50,000 vehicles, bringing 500 new jobs to Northamptonshire.
The academy, which is expected to open in 2022, will be developed as an industry-leading facility for the training of highly skilled mechanics, quality inspectors and support staff, supporting the Government’s levelling-up and skills agenda.
The development of the site will bring mechanical expertise back to Rockingham after the racetrack, which was opened by The Queen in 2001, played host to a range of motor events including the British Touring Car Championship, stock-car and single-seater series and motor shows.
Constellation will use the new centre to support the continued expansion of cinch, which following its launch in in October 2020 has quickly established itself as the largest online B2C marketplace for used cars in the UK.
Constellation, which also owns webuyanycar and BCA, recently raised over £1bn to turbocharge cinch’s growth across the UK and Europe.
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. The business has reached annualised sales of over 45,000 vehicles less than eight months after launch, growing at 45% month-on-month on average and demonstrating how much consumers love its value proposition.
Following the opening of the new site at Rockingham, Constellation will have the capacity to prepare 200,000 vehicles a year across its infrastructure, supporting its continued rapid growth.
Avril Palmer-Baunack, executive Chairman of Constellation Automotive Group, said:
“This investment is an exciting next step in the development of Constellation Automotive Group and the growth of cinch. We are delighted to be creating new jobs in Northamptonshire, while the development of the academy will ensure that cinch has the best trained people in the industry delivering the best cars to drivers all around the country.
“By investing in infrastructure this early in our journey we are ensuring that cinch will be able take advantage of changing consumer trends and sell more cars on behalf of our third party partners such as dealers, car manufacturers or leasing companies. We are excited to be able to play a leading role in the industry’s digital transformation.”
cinch, which has established itself as one of the fastest-growing consumer brands in the UK, is also a major sponsor of well-known sports teams and events such as the England Cricket teams, Scottish Professional Football League, Tottenham Hotspur, Northampton Saints and the cinch Championship at The Queen’s Club.