OzCar crashes into administration weeks after consumer watchdog fines

OzCar, one of Australia's largest used car dealership networks, has entered voluntary administration, with Glen Kanevsky and Jason Tracy of Alvarez & Marsal appointed as administrators on 8 October 2026. The appointment has resulted in the closure of three dealerships in New South Wales and the company's head office in Lansvale, with approximately 90 employees losing their jobs.

The closures affect dealerships in Penrith, Cardiff and Gosford, while approximately 12 franchised locations across New South Wales, Queensland and Victoria remain operational. The administration follows an assessment of the company's financial position and comes amid regulatory scrutiny of its sales practices.

Japanese automotive group Optimus Group, which holds a 30% interest in OzCar, said an investigation conducted by external advisers and a review of the company's financial circumstances led to the decision to place the business into administration. According to the shareholder, the appointment was considered necessary to preserve cash and protect the value of the company's assets.

The administration comes weeks after NSW Fair Trading imposed penalties following an investigation into OzCar's sales practices. The regulator fined the company $50,000 and three directors $11,000 each over conduct involving alleged pressure on customers to enter contracts, the removal of consumer protections and the sale of vehicles that failed to meet applicable consumer law standards.

The company has also faced complaints from customers concerning vehicle defects, financing arrangements and difficulties obtaining repairs or refunds. Several complaints were examined in a recent investigation by Nine News, following which OzCar agreed to resolve certain customer disputes, including by providing refunds and settling outstanding financing obligations.

The administrators are continuing to assess the company's operations and financial position, including the implications of the closures for employees, creditors and other stakeholders.