Huge News as Ebay's Gumtree agrees to acquire Carsguide and Autotrader
Carzaam Automotive News Episode 7: Ebay - Cadillac - BMW - Mercedes
Ebay's Gumtree agrees to acquire Carsguide and Autotrader
We start with the biggest automotive news story of the day with Ebay subsidiary Gumtree confirming it had agreed terms to acquire Carsguide and Autotrader in an effort to boost its local automotive presence and take on market leader Carsales.
Terms of the deal were not disclosed however sources suggested the amount was close to $80 million.
The acquisition is in line with a global strategy eBay has been implementing over the past 12 months and follows the acquisition of British car classifieds business Motors.co.uk, another subsidiary of Cox Automotive last year.
Carsguide and Autotrader are 70 per cent owned by Cox Automotive and 30 per cent owned by a group of major Australian car dealers under a company called DealerMotive.
Cadillac announces car with a 38-inch curved OLED display screen
In other news, Cadillac is set to unleash the largest screen seen in a car from a major manufacturer in its new 2021 Escalade SUV.
While the model won’t be unveiled until February 4, 2020, an early teaser has confirmed the SUV will be available with a 38-inch curved OLED display screen that stretches halfway across the dashboard.
Cadillac claims this will be the first use of a curved OLED screen in the automotive industry, and that the Escalade’s screen will have twice the pixel density of a 4K television in an escalation of the automotive screen wars that Tesla kicked off with the 17-inch screen that dominates the dashboards of the Model S and Model X.
Results in from BMW and Mercedes’ 1b bet on the urban mobility market.
Finally today we have some news from BMW and Mercedes’ 1b EUR bet on the urban mobility market.
Earlier this year, BMW and Mercedes bet EUR1 billion on a portfolio of five urban mobility solutions platforms and the results are starting to trickle in.
The companies have now revealed that their urban mobility solutions now caters to about 90 million customers in 1,300 cities worldwide with Ride-hailing platform Free Now said to be heading for record earnings with annual sales of EUR2 billion and 300 million trips taken.
In 2020, they will start to offer additional mobility services such as e-scooters, electric bikes, car-sharing, and public transport, alongside its core ride-hailing offerings to create an advanced Mobility as a Service (MaaS) platform to counteract sluggish global vehicle sales.
Read more about the Coolest tech, trends and takeaways from CES2020 and 7 BIG Reasons Why You Should Buy a Used Car Instead of a New One...
Learn more about Car Subscription here...