12:54 pm, January 28, 2025
Carwow is to launch its first ever subscription model as it looks to make its services more cost-effective for dealer partners.
While pricing is yet to be confirmed, bosses say the move has been made in consultation with dealers, who will be able to get access to the online marketplace in exchange for a monthly fee.
It is hoped that the new model, which has already gone live, will give retailers access to ‘clear, predictable pricing’ and put them in touch with customers who have ‘high levels of purchase intent’.
It marks the latest step in a period of rapid growth for the online marketplace, with search data revealing that used car views were up 103% in the first three weeks of the year.
Meanwhile, 76% of visitors to the site now say they are ‘actively considering’ the purchase of a used car, making it a potential goldmine of customers for dealers.
The firm was also boosted last year by its takeover of Auto Express and Evo for undisclosed sum.
John Veichmanis, Carwow chief executive officer, said: “Nine million people change their car every year in the UK, and we are the starting point for so many of them.
‘Whether it’s our YouTube channel, Carwow, Auto Express or any of our other brands, we are the trusted place where people start researching and finding their next car.
‘We have received extremely positive feedback from dealers trialling the subscription model, confirming that we are helping them reach new customers and drive incremental sales, while being a competitively priced alternative to other marketplaces.
‘With plenty of developments still to come, we’re excited to partner with more dealers to help increase their used car sales volumes and really innovate to shake up the used car market.’
