Car comparison site carwow has confirmed the acquisition of used car buying platform Wizzle for an undisclosed fee.
The acquisition will help carwow users sell their current car once they have configured their new car on the platform.
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Wizzle was designed to help dealers appraise and value used cars that had been driven onto their forecourts. Being online, customers have the ability to profile their car and share it with prospective dealer buyers.
Customers answer a set of questions about the car’s general condition and upload six to eight photos. After that, the dealers decide whether they want to make an offer to buy it.
There are currently more than 2,000 dealers currently on the Wizzle platform, buying more than 1,500 cars per month.
carwow plans to integrate the service into its new car buying experience. Using its currently ‘Sell Your Car’ feature, customers are only able to receive a single offer from a single provider. As a result of the acquisition, carwow can provide multiple bids and prioritise offering cars to dealer partners directly.
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By GlobalDataTwo sides of the same coin
James Hind, chief executive of carwow, said: “Our partners have told us that they want better direct access to high quality used car inventory. This acquisition will allow us to do just that quickly. Presently, Wizzle powers over 1,500 vehicle sales per month. We’re aiming to grow exponentially by integrating the service into the main carwow platform. We’re super excited about the Wizzle team joining the carwow family and look forward to rolling the service out in the UK and then Germany and Spain.”
Sébastien Duval, chief executive of Wizzle, added: “With carwow’s reach, scale and the expertise of its 245 person team, we’re in position to build the biggest used car aggregator in the market, providing dealers with easier access to more in-brand, local and quality cars.
“I can’t wait to combine our technology with the reach that carwow has in the UK, Germany and Spain. Our companies are two sides of the same coin, with the shared vision to deliver trust, transparency and high-quality services.”
Last year, carwow launched ‘Delivered & Disinfected’ remote buying to assist customers preferring not to visit showrooms.
