CarWow has reported a 29% increase in new dealers signing up to its auto marketplace so far this year, which it attributes to improved stock supplies and upgrades to its platform.

The British company, which sells both new and used cars, said the rate of dealer sign-ups has accelerated in recent weeks, with two-thirds of the new sign-ups occurring since the start of May through to the end of July. The trend was most prominent in the North of England, with a 33.6% increase in retailers joining in the North West, and 31.9% in the North East.

In early June, CarWow reported a 113% increase in the proportion of customers who place a formal enquiry for a used car after starting their search on its platform looking for a new car.

“It is notable that the rise in sign-ups has built in a sustained and consistent way and gathered pace over the past few months,” said CarWow commercial director, Sepi Arani.

“Where previously we saw pockets of retail-ready stock at dealers around the UK, we’re now seeing availability improve more consistently as well as a stronger balance of factory orders versus stock sales.

“We’re also seeing a very positive response to our enhanced used car offering and our all-new dealer website.”

CarWow received funding to invest earlier this summer when Volvo acquired a minority stake in the company. CarWow has appointed several senior members to its team to support its growth strategy and in July launched a new website to help dealers source and buy used cars.

 

 

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