London-based used car supermarket Cargiant is set to close its doors for good on April 24, after more than five decades in operation. The company, once the UK's most profitable second-hand motor seller, will shut down after its owners failed to find a buyer or secure a viable future for the business.
The site, covering roughly 50 acres and estimated to be worth around £100 million, sits adjacent to a planned HS2 interchange. Cargiant had previously stocked over 2,000 cars and was among Britain's busiest used car supermarkets.
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.'
The company attributed the closure to a combination of factors, including a continued reduction in the supply of used vehicles driven by the EV mandate, rising operating costs, and increasing complexity in the used car market. In 2025, Cargiant recorded a £121.2 million pre-tax profit following a land revaluation, after a pre-tax loss of £22.4 million in 2023.
Cargiant has sold more than one million vehicles over its history and pioneered the used car supermarket model in the UK. The spokesperson added: 'We would like to sincerely thank our colleagues for their commitment, professionalism, and the constructive way they engaged throughout that process.'
