As of the end of 2023, the value of stock held by Cinch, representing its inventory, was £51.1 million. This figure reflects a significant decrease from the previous reporting period.
Inventory Value Evolution
Cinch's inventory value experienced a substantial reduction during the reporting period. At the end of 2022, the value of stock held by the company stood at £123 million. By the close of 2023, this figure had dropped to £51.1 million, indicating that the stock value more than halved.
Metric | End of 2022 | End of 2023 |
---|---|---|
Value of Stock (Inventory) | £123 million | £51.1 million |
Cars Listed for Sale | 10,263 | 6,397 |
Percentage Owned by Company | 91% | 62% |
Changes in Car Inventory
The reduction in the overall stock value aligns with changes observed in the number of cars listed for sale on Cinch's website and the proportion of inventory owned by the company:
- End of 2022: Cinch had 10,263 cars listed for sale. At this time, a significant 91% of this inventory was directly owned by the company.
- End of 2023: The total number of cars listed decreased to 6,397. Correspondingly, the percentage of these cars owned by Cinch also decreased to 62%.
This data illustrates a notable shift in Cinch's inventory management and asset base over the specified reporting period.