Auto Trader

The Digital Landlord of the UK

Auto Trader (AUTO.L) isn’t a car company; it’s a tax authority.

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They don’t own inventory, they don’t fix engines, and they don’t take risks. They simply sit at the toll booth of the UK automotive market and collect a 70% operating margin from desperate dealers who have nowhere else to go. Financially, it’s a masterpiece.

But for the ESG investor, this is Digital Feudalism wrapped in a Net Zero pledge. If you want to see how a monopoly squeezes society while greenwashing its role in the fossil fuel economy, look no further.

The Deep Dive, You Can Get With an Upgrade:

• The 70% Margin Trap: Why their “Asset Light” model is actually a wealth transfer from small businesses to shareholders.

• The EV Illusion: How they use “Green Filters” to distract from the fact that their entire business model relies on churning used diesel and petrol engines.

• The Valuation Squeeze: Why the stock is priced for perfection in a macro environment that is about to stall.

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