London-based car dealership Cargiant will close for good on April 24 after its owners were unable to find a buyer for the business, which was once massively profitable
A British car dealership is set to close within days – it was once the UK’s most profitable business selling second-hand motors.
London-based Cargiant will close its site in the capital for good on April 24 after its owners were unable to find a buyer. The company previously had more than 2,000 cars available and was among Britain’s busiest used car supermarkets.
The site covers roughly 50 acres and is estimated to be worth around £100m. It sits adjacent to a planned HS2 interchange that will link HS2, the Elizabeth Line, overground and other transport connections.
Cargiant has encountered difficulties in recent years, with directors being compelled to attempt to sell the business and land. The closure follows Cargiant’s owners’ failure to “secure a viable future for the business”.
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In 2025, the firm recorded a £121.2m pre-tax profit following a revaluation of the land. This followed a pre-tax loss of £22.4m in 2023, reports the Express.
In a statement to Car Dealer, a spokesperson said: “It is with great sadness that we announce the closure of Cargiant’s retail operations. 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.
“Unfortunately, despite those efforts, we have concluded that the business is no longer commercially sustainable in its current form.”
They added: “This reflects a combination of factors, including a continued reduction in the supply of used vehicles, primarily driven by the EV mandate, alongside rising operating costs and increasing complexity within the used car market.
“Cargiant has been a major part of the UK motor industry for more than 50 years, pioneering the used car supermarket model and growing to become the UK’s largest independent car dealership.
“Over that time, we have sold more than one million vehicles and supported thousands of people in building careers in the motor industry and beyond.”
