9:23 am, January 10, 2024
2023 was a tough year in many respects as the used vehicle market started a downward trend in values – something it hasn’t experienced for a few years now.
In some respects, this provided Motom with an enhanced value proposition as the market was looking to sell vehicles quicker than traditional routes, and with our proposition allowing trades to be made in under a minute, we found ourselves with lots more interested sellers.
Over the full year, we managed to market more than 4,500 vehicles from over 50 different sellers, covering 40 brands with prices ranging from £2,600 to £180,000.
The age profile ranged from 2006 to 2023 and included car and LCV (ICE, EV and hybrid).
Our community continues to grow and we closed the year with over 750 users – and it’s great to report that the growth has continued into 2024.
We are often asked what type of sellers we have on the platform.
We have lease and rental companies, fleet management companies, OEMs and dealers of all scale selling everything from trade stock, over-age stock, end-of-life lease, rental and corporate fleet vehicles, as well as OEM demo and staff cars.
From our discussions with our community, our uncomplicated pricing proposition stands out – no selling or subscription fees and just a standard buyer’s fee. There are no add-on fees either.
Equally, the ease of use of our app-based platform (web, mobile and tablet) stands us in good stead and we’re hearing some great feedback.
We invested in relationship managers in 2023 to ensure our community is highly engaged and trained on how to get the best from Motom.
But while we have some great feedback, we all accept that we can’t rest on our laurels and need to constantly support our community to ensure Motom becomes the platform of choice, whether it’s for buying or selling.
We also invested in the platform to allow the ease of transfer of stock to Motom, and we’re delighted with some of the work that connects stock from our sellers seamlessly into vehicles marketed for sale.
2024 will see Motom scale, which will mean a growing community of sellers and buyers, more vehicles being traded and some great results being achieved for our users.
We also have some developments coming to our app that include stocking finance, logistics and inspection, all designed to deliver significant value to our users.
We remain committed to our pricing model of no selling or subscription fees, we have a proposition that is greener than other sales routes, and we deliver trades in minutes not hours, days or weeks.
For more details, go to https://motom.io, email [email protected] or phone 0121 289 2166.
