Auto Trader has warned investors that Autorama, the new car leasing marketplace it bought in a deal worth up to £200m, is set to lose around £11m.
The Manchester-headquartered group completed the deal in June for an initial consideration of £150m while an additional £50m has been deferred "subject to customary performance conditions" in a year's time.
Autorama has created a digital platform which aggregates leasing deals from multiple funders and OEMs under its Vanarama brand.
