Cazoo sees FY23 total unit sales at 50K-60K, Retail GPU approaching GBP 1.2K

The company states: "We reiterate the guidance provided in the Business Performance Update on March 7, 2023 and the preliminary results announcement on January 18, 2023 and provide further details on the progress delivered to-date on the Revised 2023 Plan. In 2022, we demonstrated our ability to buy and sell cars online at significant scale and consolidated our resources on the UK market. We also saw steady progression in our Retail GPU up to GBP 596 by Q4 2022. Having proven our ability to grow, in the current economic environment we believe it is prudent to focus on further improving our unit economics, reducing our fixed cost base and maximising our cash runway. Our Revised 2023 Plan aims to rapidly improve the unit economics of our business. To enable this, we have reset our 2023 top line ambitions to 40,000-50,000 UK retail units (total units of 50,000-60,000, the balance being made up by wholesale units). At the same time, we continue to focus on driving ancillary revenue opportunities. We have consolidated our operations by reducing the number of vehicle preparation and customer centers, making our logistics network more efficient, which is expected to result in significant fixed cost savings."