Second-hand car platform heycar enters UK market
The online used car platform 'heycar' is expanding into the United Kingdom, having first launched in Germany in 2017.
heycar aims to bring greater transparency and trust to the used car market. It offers vehicles from all major automotive brands through partnerships with trusted dealers. All vehicles come with a warranty, are less than eight years old and have done less than 100,000 miles. heycar brings a simpler solution to the UK, allowing users to search for and find their used car, complete with a finance quote, in one online journey.
In the United Kingdom, the heycar brand operates under Mobility Trader UK Ltd., a wholly-owned subsidiary of Mobility Trader Holding GmbH and is a sister company of the German Mobility Trader GmbH. The shareholders of Mobility Trader Holding GmbH are Volkswagen Financial Services AG and Daimler Mobility AG.
"We are pleased that heycar has now taken the first step towards an international expansion. Following the positive reception of heycar in Germany, we now want to serve dealers and customers in the United Kingdom just as successfully and thus further expand our used car business," says Frank Fiedler, CFO of Volkswagen Financial Services AG.
"The UK used car market, the second largest in Europe after Germany, works inefficiently for buyers and dealers. heycar will disrupt this industry through a simple, tech-led proposition and will take market share from the incumbents to become the number one site for high quality used cars in the UK", says Mat Moakes CEO of Mobility Trader UK Ltd.
heycar has launched in the UK with over 100,000 used cars from nearly 50 brands on the platform. heycar will continue to add more vehicles to its platform as it expands its partnerships with dealer groups across the UK.