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Cazoo’s Imperial Cars acquisition followed by consultation over redundancies

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Imperial Cars has begun to consult its staff over widespread redundancies just two weeks after its acquisition by online car retailer Cazoo.

AM understands that up to 300 jobs could now be at risk at the 18-site independent car retail group as the business moves towards a more digital-led sales process in-line with the ethos of its new owner.

Completion of the deal to acquire Imperial Cars came just weeks after Cazoo became one of the fastest UK businesses ever to achieve a $1 billion (£800.8m) valuation – just six months after its launch – and gave it access to a used car sales operation with a 5,000-car inventory and vital PDI facilities across the UK.

With the sale of those cars likely to shift online, however, the business now looks set to dispense with part of the workforce its had amassed during a rapid growth period following  the opening of its fourth location, in Northampton, back in 2015.

Mike Bell, the managing director at Imperial Car Supermarkets, who remained within the leadership team following the acquisition by Cazoo, said: “We are currently going through a consultation process with certain members of staff at Imperial as a result of both the current market conditions and a change to our sales processes that was already underway at Imperial.

“It is, of course, our intention to minimise any job losses in this difficult time and we will offer alternative roles wherever possible.

Bell said that the process of consulting over redundancies would have happened “regardless of Cazoo buying the business.”

Cazoo’s became one of the UK’s best-funded start-ups ever following the completion of its latest £25m funding round on June 22.

The process saw new investor Draper Esprit join existing investors including DMG Ventures and General Catalyst to take the total raised by the online car retailer to over £200m.

In an exclusive interview with AM magazine earlier this year, Chesterman said that he was determined to prove the naysayers wrong and make a success out of his digital car retail model.

Describing the outdated car buying process he aimed to change, he said: “The process of buying a used car is outdated and not fit for purpose for today’s consumer… we take away the need to travel, to haggle, to spend countless hours at a dealership and to risk any buyer’s remorse.”

Speaking at the time of Cazoo’s Imperial Cars acquisition earlier this month, Chesterman said: “The acquisition of Imperial Car Supermarkets will enable Cazoo to better serve its customers and fulfil our increasing number of deliveries throughout the UK.

“This deal provides us with key infrastructure as well as a wealth of automotive expertise which will help accelerate our growth.”

Chesterman OBE – previously the founder of Zoopla and LoveFILM – praised Imperial Cars’ “team” following the business’ takeover.

Managing director Mike Bell, operations director Neil Smith, commercial director Jon Churcher, and trade disposal director Scott Beazley were the joint owners of Imperial Car Supermarket and will all be taking up key management positions with Cazoo following the acquisition.

Chesterman said: “Imperial has a highly dedicated team and I am delighted to welcome them to Cazoo along with Mike, Jon and Scott.”

Source: https://www.am-online.com/independents/news/2020/07/29/cazoo-s-imperial-cars-acquisition-followed-by-consultation-over-redundancies

Automotive

How Car Tires Are Manufactured

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🚗 Cars are complex machines, each part made in highly specialized and specific ways, car tires included. Here is how car tires are manufactured.

🚕 Car tires are the part of your vehicle that keeps you moving forward. But have you ever wondered about how car tires are manufactured? Read ahead for a quick overview of the process.

❋ Design and Plan 👇

Designing the item you plan to manufacture is the first part of any industrial process. Car tires have been around for a long time now, and the manufacturing process is becoming increasingly digital. The design is usually created through engineering software, and the dimensions and curvature are handled with precision. After that, the tire-making machines receive this digitized format.

❋ Select Materials  👇

Most tires consist largely of rubber, both natural and synthetic. Oils, pigments, antioxidants, and other materials mix with the rubber to create each part of the tire. Tires must be crafted from quality, durable materials, including chemical agents, metallic cables, and fabric reinforcers.

❋ Melt and Mold 👇

Heat and friction work together to produce the final rubber composite that will mold the other parts of the tire. Tires are not one singular piece of rubber—they contain tread rubber, sidewall rubber, fabric-coated plies, and bead wires, among other components. A factory worker or automated apparatus then uses a tire-building machine in the shape of a collapsible drum to glue and set the tires. Finally, the tires cure over time, and subsequent heating and steaming help them fully coalesce

❋ Distribute Widely 👇

Quality control is important with tires—after all, tires must handle transporting drivers for thousands of miles on the road. After rigorous testing, the manufacturer packs the tires and distributes them to various sellers. These include tire stores all across the United States, from Trenton, New Jersey to Anderson, Indiana.

🟥 Knowing how car tires are manufactured can help you better select the parts for your vehicle. Because all cars are different and have specific needs, you should consult with a tire expert before choosing your next set of wheels.

👉↘ Source: Christina Duron is a freelance writer for multiple online publications where she can showcase her affinity for all things digital. She has focused her career around digital marketing and writes to explore topics that spark her interest.

 

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Feast your eyes on the all-new, all-electric GMC Hummer EV

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GMC has a new all-electric version of its classic Hummer oversized SUV. This thing is a beast, as you might expect, with an advertised 350-mile range and a 3-second zero to 60 mph time. It’s a bit ridiculous to be honest, which is kind of what the Hummer has always been about so that makes sense.

Alongside a teaser, GMC released a number of press photos of the 1,000 HP bruiser, so take a look below. It definitely looks like a Hummer – which may or may not be your cup of tea.

Source: https://techcrunch.com/2020/10/20/feast-your-eyes-on-the-all-new-all-electric-gmc-hummer-ev/

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Automotive

ALYI Highlights Next Steps

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Dallas, TX – October 20, 2020 – OTC PR WIRE – Alternet Systems, Inc. (OTC PINK: ALYI) today announced plans to publish a comprehensive progress update next week targeting a Wednesday, October 28th release date.

Management indicates a number of major endeavors underway in important stages of development to include RevoltTOKEN financing partner’s efforts to finalize ICO details, next steps after finalizing the multiparty milestone agreement announced last week, and a new design path development for the company’s long-term plans for future electric vehicles in Africa.

Management anticipates wrapping up details on the above-mentioned endeavors by next Wednesday and being ready to release a comprehensive update.

For more information and to stay up to date on ALYI’s latest developments, please visit www.alternetsystemsinc.com.

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297

Source: https://otcprwire.com/alyi-highlights-next-steps/

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