New online used car marketplace launches in the UK
Last week saw the launch of a brand new platform centred around the buying and selling of used cars. Heycar.co.uk has been designed and developed in collaboration with BCG Digital Ventures and will compete with the large existing vehicle platforms that currently dominate the market by offering quality control for consumers and lead generation for dealers.
Heycar.co.uk is a used car marketplace that is already being backed by some of the top automotive brands such as Volkswagen. The company’s primary mission is to bring greater trust and transparency to one of the UK economy’s largest retail sectors. They say they’ll achieve this by creating exceptional user experience for both consumers and dealers. The site has launched with an inventory of more than 100,000 listed vehicles from 50 brands across 1,400 dealerships.
“Our site will be ad-free, improving transparency and consumer trust and heycar won’t charge dealers a listing fee, encouraging them to display all their best quality stock.”
Mat Moakes – heycar CEO
Along with their mission, the team behind heycar strives to have a strong focus on offering premium quality used cars, by partnering with carefully selected dealers, and listing vehicles no older than eight years old, that have driven less than 100,000 miles.
According to recent figures by The Society of Motor Manufacturers and Traders (SMMT) the value of the UK used car industry is an astonishing £50 billion.
Although the UK used car market has long suffered from a large amount of consumer scepticism, heycar vows to overcome this by being innovative and fresh thinking when it comes to providing simple solutions to the industry.
The CEO Mat Moakes reiterated their values at the launch event in London last week: “The UK used car industry is worth £50bn, yet it works inefficiently for consumers and dealers. Buying a used car can be like a lottery, you don’t know what you’ll get. Existing websites are often cluttered with ads, eroding consumer trust. Dealers are burdened with rising fees for listing used cars online, squeezing their margins without a guarantee of leads or sales.”
He continued by explaining how heycar will help the automotive market saying: “We’ve developed heycar to solve these pain points. We’ll offer a simpler, more effective solution for both used car buyers and dealers. Our site will be ad-free, improving transparency and consumer trust and heycar won’t charge dealers a listing fee, encouraging them to display all their best quality stock. After the launch phase we will charge on a lead-generation basis, guaranteeing a win-win for our dealer partners.”