Carzam, the U.K.-based online car sales company, has appointed Kirk O’Callaghan as CEO.
“I’ve been monitoring the events very closely and it’s been an absolutely fantastic start for the business with some tremendous results,” O’Callaghan said.
Carzam, which was founded by Big Motoring World boss Peter Waddell and former Cox Automotive president John Bailey, launched in mid-December. It’s had a strong first few months, selling 1,600 cars in its first eight weeks and earning revenue of £20.5 million ($28.3 million U.S.). It’s currently on course to reach its first year target of 20,000 vehicle sales and a turnover of £250 million ($345 million U.S.).
Carzam allows buyers to select their car from a large physical stock inventory, arrange finance and home delivery using a fully online service. Cars are prepared at Big Motoring World’s vehicle preparation center in Peterborough, Cambridgeshire.
The company has said that the industry is at a point where online and physical car sales are “equally important and it’s imperative that we embrace both.”
One of its main rivals for the eight million annual used car sales made in the U.K. is Cazoo, which, according to reports on Friday is readying itself for an IPO. Cazoo took 14 months to sell 20,000 vehicles.
In January, Carzam recruited former Cox Automotive president Michael Buxton and former Renault retail digital director Ashley Wade as chief marketing officer.