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Tesco Cars has closed just 12 months after launching as a used car sales website.
A statement on the website said: "We started Tesco Cars in good faith and we always aim to do a good job for customers. However, following a review of the business model we and Carsite, our partner, have decided that we cannot offer customers a satisfactory range of vehicles and as a result, have decided it is right to close the business."
The supermarket giant assured customers that incomplete orders will be refunded in full: "We will ensure that no customer is left out of pocket," it said.
The website was started in April last year, after Tesco bought online used car retailer Carsite, and provided another vehicle disposal channel for fleets.
One of Tesco Cars' selling techniques was to inspect, photograph and advertise vehicles before they were available, enabling fleets to list cars before the end of contract, so minimising the time between de-fleeting and sale.
At that time of launch, boss Douglas Rotberg said that exposure to a greater number of private buyers meant that fleets should be able to sell their stock faster and at a higher price, compared with auctions.
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