Digital Forecourt Beckons for Growing Online Used Car Market, FT Reports

(AF) Used cars are catching up with the e-commerce revolution, with almost $6 billion in funds raised by online sales startups this year, the Financial Times has reported.

Companies including Cinch, Cazoo and Aramis are seeking to claim some of the $1 trillion global used car market through digital offerings that are forecast to pull in revenue of $1bn this year, the report stated.

Mark McCord

Mark McCord is a financial journalist with more than three decades experience writing and editing at global news wires including Bloomberg and AFP, as well as daily newspapers in Hong Kong, Sydney and Melbourne. He has covered some of the biggest breaking news events in recent years including the Enron scandal, the New York terrorist attacks and the Iraq War. He is based in the UK. You can tweet to Mark at @MarkMcC64371550.