Online car marketplace heycar is driving £40m worth of car sales to its dealer partners each month, after one year of trading.
The Volkswagen and Daimler backed business has 3,700 dealers signed up to its platform currently, with more than 150,000 cars listed on the site.
Mat Moakes (pictured), heycar CEO, said: “Our focus in our first year has been on gaining scale, showing that we’re different and setting out our commitment to supporting the industry on its digital journey.
“We take immense pride in having become a truly meaningful source of lead generation for our partners in just twelve months.
“It’s the result of our smart approach to driving rapid growth and the advantages we can leverage as a result of our shareholders.
“And it’s only the beginning: We’re laser-focussed on optimising our proposition and experience for both customers and dealers, getting deeper into the buying journey, to provide the shot of adrenaline this sector is crying out for.”
As the brand moves into its second year, a new TV ad – shot in lockdown – will air, backed by £5.5million of media investment.
“Other online listings businesses are just digital versions of newspaper ads,” said Moakes. “That’s not heycar. We have features and products that improve the experience whether you’re a dealer or a consumer, the latest of which includes our worry-free money back guarantee, and our new Concierge service which helps car buyers take the stress and inconvenience out of car ownership.”
To give its customers further control of the online car-buying journey heycar has adopted a partnership strategy that has seen it team up with SilverBullet. It allows customers to complete their part-exchange and finance arrangements online.