Volkswagen and Daimler-backed used-car vertical HeyCar has acquired British auto consumer advice website HonestJohn.co.uk just weeks after it entered administration due to “significant cash flow difficulties.”
HonestJohn is one of the best-known car advice and review websites. The acquisition will offer Heycar the opportunity to access HonestJohn’s 25 million website visitors and its reputation as a go-to site for informed car-buying decisions.
Heycar said the purchase would cement its ambition to “bring greater trust and transparency to the market and to continue rapid growth.” It also noted that HonestJohn.co.uk will continue to offer impartial, independent advice.
Heycar lets users search for and buy a used car, as well as arrange financing, on its portal. It launched in the U.K. in August with an inventory of more than 100,000 vehicles from 1,400 dealerships. The company now has around 170,000 cars on its U.K. site, with 3,500 franchised dealers signed up and selling on its platform.
However, the company’s largest market is Germany, where it launched in 2017, and it has plans to expand into other European markets.
“We launched Heycar to drive greater trust and transparency for motorists and the industry,” said Mat Moakes, Heycar’s CEO. “That’s exactly what Honest John has been doing for the past two decades.”