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Car Dealer Power

Carwow – Highly commended Stock Acquisition 2024

  • Carwow is named highly commended for its auction platform in the Stock Acquisition category in 2024

Time 6:38 pm, July 3, 2024

Carwow’s auction platform has been named highly commended at the Car Dealer Power Awards 2024 in the Stock Acquisition category.

The business, which started by pairing customers with the dealership offering the best deal, now offers a Sell My Car to consumers and six auctions a week for car dealers to purchase stock.

Carwow told Car Dealer: ‘To receive a highly commended accolade for a relatively new and continually evolving product is a testament to the effort and expertise of the people who have made it a rapid runaway success.

‘In the three years that our auctions have been operational, we have put over 155,000 vehicles back onto dealer forecourts.’

It continued: ‘But for us, this is just the beginning. Our vision is to build the best online platform for dealers to source stock from on a daily basis.

‘That’s why we’ve delivered so many product enhancements over the past 12 months, including the addition of LCVs to our stock mix, introducing round-the-clock bidding, verification of service history and financial protection against unforeseen vehicle faults.’

Carwow has gone from strength-to-strength by adapting its offering and growing its audience.

‘With 9m YouTube subscribers, plus 3.5m unique website users a month and our recent acquisition of Autovia to form the Carwow Group, we believe we are well placed to connect significantly more consumers with our dealer partners to help them change cars,’ it said.

‘The fact that the Power Awards are voted for by dealers is an important indicator of which brands are having the biggest impact on dealers’ businesses, so it’s great for our daily online auctions to be recognised as one of the leading sources of high-quality stock.

‘There are still plenty more game-changing developments in the pipeline so, while we’re thankful and humbled to be highly commended, we’re also determined to go one better next year and win!’

Commenting on the past year, Carwow said: ‘To put it simply, this past year has been completely transformational.

‘2023 was a big year which saw us welcome a new CEO, grow the number of dealers on our platform by 75% and undergo a global rebrand and repositioning as the car-changing destination.

‘In early 2024 we acquired Autovia to further grow our reach and our YouTube channel, fronted by Mat Watson, is one of the world’s biggest automotive channels.

‘This May marked the third birthday of our daily online auctions and was also the month we hosted our first ‘Inside Line’ dealer and OEM insight event, connecting dealers, OEMs and leasing businesses for a day of unmissable insight and expertise.

‘It’s been a phenomenal year of growth and opportunity and there’s still a great deal more to come.’

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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