Launch of New Service
Pendragon PLC
8 May 2000
Launch of tins.co.uk
Pendragon plc, the UK's largest car dealership group today announces that it
has launched a new on-line car retail site under the brand www.tins.co.uk. The
website is the first in the UK to offer buyers a full part exchange service
when buying a new or used car. As over three-quarters of all retail car
purchases in the UK are made with a part exchange of a used car, Pendragon
believes that tins.co.uk will offer buyers a unique and unrivalled service to
car buyers on the internet.
tins.co.uk has the widest choice of new and used cars available on the
internet in this country. There are around 40 different new car brands and
over 4000 new car models on the site, more than double that available on any
other on-line car retailing website in the UK. The website also offers around
5000 used cars for sale from stocks held within the existing Pendragon
dealership network of over 200 sites nationwide. Buyers can receive
valuations on part exchanges, arrange attractive finance and insurance
packages from accredited finance houses, and arrange for vehicle collection
and delivery.
Unlike other on-line car retailers, tins.co.uk will not charge a 'finders fee'
for providing a quote for the car that the customer wants to order.
tins.co.uk will create 150 jobs at Pendragon's national customer support
centre at Loxley House in Nottinghamshire. The website has been in
development for over a year and is now fully integrated with Pendragon's
existing dealer management systems and the IT systems of major insurance and
finance companies.
The company also plans to operate a number of 'cybercafe-style' locations for
customers who want to browse at a tins terminal. Drinks and light
refreshments will be available and customers can talk through their purchase
requirements, finance package and insurance options with a qualified tins
executive. The first of these locations is opening in Mansell Street in the
City of London in June where the Group currently has a dealership.
Trevor Finn, Chief Executive of Pendragon, commented:
'tins.co.uk is a real business, offering cars today not promises of cars
tomorrow. Unlike highly publicised third party offers, customers can receive
their new or used car within a matter of days, and can feel reassured that
they are dealing with car experts within the UK's largest car dealership
group.
'The unique range and depth of our new and used stock combined with the
ability to part exchange makes tins.co.uk a compelling destination site for
the UK car buyer.'
Notes to editors:
Currently, over $800 million is spent buying cars over the internet in the US,
representing around 15% of total cars sold in America annually.
43% of the UK population will have access to the internet in 2000 and internet
usage is growing at around 30% every six months. In the first six months of
1999, 7.2 million people accessed the internet.
The proportion of British motorists buying cars on-line is forecast to reach
15% by 2003, according to Sunday Times, 30 January 2000
Enquiries:
Trevor Finn, Chief Executive Pendragon 01623 725000
Rupert Younger Finsbury 020 7251 3801
Charlotte Festing
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