Virgin Cars Ltd was an internet automobile retailer, established by British entrepreneur Sir Richard Branson and co-founded by Ian Lancaster in 2000 as part of the Virgin brand of companies.
Branson predicted the company would sell 24,000 cars in its first year, with a £300m turnover.[1] By October 2000, the company had sold more than 2,000 cars, generating £30 million.[2] In 2001, the company launched a subsidiary, Virgin Bikes.[3] By 2003, the company had still sold only 12,000 cars.[4] In May of that year, Branson opened Virgin Cars' first showroom in Salford, Greater Manchester.
In 2005, the company stopped all operations and ceased trading.[5]
External links
References
- Cordella Brabbs. Virgin Cars aims for £300m sales Marketing, 25 May 2000^
- Branson launches Virgin Cars at Motor Show PR Newswire, 17 October 2000^
- Virgin Cars Marketing Week, 5 July 2001^
- RICHARD BRANSON'S FAILS: 14 Virgin Companies That Went Bust Business Insider, 21 April 2012, retrieved 16 May 2014^
- Virgin Cars Homepage after closing retrieved 2013-05-04^