A prominent car dealership in the UK is scheduled to shut down imminently, previously known for being the most profitable in the country for selling pre-owned vehicles.
Cargiant, situated in London, will permanently close its London site on April 24 as efforts to find a buyer have been unsuccessful. The dealership, once boasting a stock of over 2,000 cars, was a key player in the used car market.
The property, spanning approximately 50 acres and valued at around £100 million, is positioned next to a planned HS2 interchange connecting various transportation networks including HS2, the Elizabeth Line, and overground services.
Facing challenges in recent times, Cargiant’s management sought to sell both the business and the land. The decision to close was made after unsuccessful attempts to ensure the business’s viability for the future.
In 2025, the company achieved a pre-tax profit of £121.2 million following a land revaluation, a significant turnaround from the £22.4 million pre-tax loss in 2023 as reported by the Express.
A spokesperson for Cargiant, in a statement to Car Dealer, expressed regret over the closure of the retail operations, citing extensive consultations and exploration of all options to sustain the business. Despite best efforts, it was concluded that the current business model was no longer financially viable.
Factors contributing to this decision include a diminishing supply of used vehicles, driven mainly by the EV mandate, escalating operational expenses, and increasing intricacies in the second-hand car market.
With a legacy spanning over 50 years, Cargiant has been instrumental in revolutionizing the used car supermarket concept and evolving into the UK’s largest independent car dealership. The company has facilitated the sale of over one million vehicles and supported numerous individuals in establishing careers within and beyond the motor industry.
