Auto Trader Group plc, the UK and Ireland’s largest digital automotive marketplace has acquired Macclesfield-based Motor Trade Delivery Limited (“MTD”) for an undisclosed sum.
Founded in 2013, MTD operates an online real-time marketplace for the trade delivery of vehicles across the UK. Through the platform, car dealerships and rental companies list ‘jobs’ – vehicles that need moving to another retailer site or a customer – and logistics providers bid for the jobs via a live auction process. Dealerships get the best possible price for the vehicle movement without needing to contact multiple potential providers and the logistics providers save time and money by getting access to greater volumes of work. MTD facilitates the movement of around 3,000 vehicles around the country every week.
Auto Trader CEO, Trevor Mather, said: “We have been extremely impressed by the technology platform and customer base that MTD has built in a short space of time and are delighted to be welcoming them to the Auto Trader team. We believe that their innovative product, combined with our scale, industry knowledge and relationships, will create an offering with growth potential that will strengthen our trade-to-trade business. More broadly, this acquisition is an extension of our overall strategy of using digital technology to improve efficiencies for our retailer customers.”
MTD’s annual revenue and profit for the financial year ending September 2016 was less than 1% of Auto Trader’s annual revenue and profit.
Source: Auto Trader Group plc