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Tesco to launch into used car selling to boost finance division - claim
publication date: Feb 8, 2011
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author/source: Robin Roberts
| Tesco is planning an imminent assault on the used car market in the UK, says
Car Dealer magazine. | | A source told
the magazine that the conglomerate plans to sell hundreds of thousands of used
cars a year - aged between one and four years old - via a website. | | According to BCA there has been a significant increase in the value of 4x4 pick-ups in recent
weeks with both lifestyle and workhorse models performing strongly.
Duncan Ward, BCA General Manager - Commercial
Vehicles commented "Well-specified 4x4s are in demand and examples with
leather, satellite navigation, chrome trim, alloy wheels, metallic paint and
popular extras like searchlight bars are making exceptional money. | | "The sole
aim of this will be for Tesco to up-sell its finance and insurance products to
buyers of these used cars," said the source. "It's likely they'll make very
little on each sale but instead use it to make lots of revenue from their
financial arm." | | | | | |
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