The closure of one of the UK’s biggest car dealerships has been described as a major “turning point” for the second-hand car industry. CarGiant, a 50-acre site in West London, is set to close later this month, with the brand confirming operations would cease on April 24.
CarGiant said they have concluded that the business was “no longer commercially sustainable in its current form”. However, Cherie Carter, Managing Director of Indigo Car Hire, stressed the closure of CarGiant was a major blow.
Speaking exclusively to Express.co.uk, Cherie explained: “This feels like a real turning point for the UK used car market. When a business as well-known and established as Cargiant shuts its doors, it hits home that this is more than just a rough patch.
“We’ve seen a steady run of closures over the past year or so, and a lot of that comes down to how expensive it is to run these large-scale dealerships. Big sites, lots of staff, and holding huge amounts of stock all come with heavy costs, and that model is becoming harder to sustain.
“At the same time, customer behaviour is changing. More people are comfortable browsing and buying online, and they expect flexibility that traditional forecourts do not always offer. If I had to sum it up, this is less about the market shrinking and more about it reshaping itself.”
However, the news is a shock considering the scale of the business, with CarGiant previously stocking thousands of vehicles at the site where the land has been valued at close to £100million.
CarGiant told Express.co.uk in a statement: “This decision follows an extensive consultation process with our team, during which we carefully explored all potential options to secure a viable future for the business.
“We would like to sincerely thank our colleagues for their commitment, professionalism, and the constructive way they engaged throughout that process.”
