U.K.-headquartered used car marketplace Carwow has announced a number of new metrics that show the company has grown during 2023 as it launches a new campaign to encourage owners to sell their cars via Carwow.

It has seen the number of dealers on its auction site increase by 75% year-on-year and the number of active monthly users went up by 47%. Dealers purchased 68% more used vehicles through Carwow in 2023 compared to 2022.

Carwow said the figures illustrate that the stock it has are well matched to dealer requirements as most lots, 53% were under five-years-old and nearly two-thirds, 60%, had less than 30,000 mileage. It has also seen, like most used car retailers, record sales of lower-cost vehicles.

The company also revealed which cars attracted most interest from individual dealers. A 2017 Ford Fiesta came first, with 31 dealer bids, followed by an Audi S4 and a Volkswagen Golf-R in joint second with 28 bidders. Other cars that featured in the top 10 were a Mini hatchback, a 2017 BMW X3, 2019 BMW 3-Series Touring, and an Audi S3.

“2023 was a remarkable year with 83% growth in revenue for our SMC business,” said Sally Foote, Carwow’s Sell My Car CCO.

“We invested heavily in developing our consumer-facing Sell My Car product across all markets. In the U.K., we added LCVs to our stock mix, changed to a round-the-clock bidding model, improved listing integrity, and introduced document collection and vehicle delivery services.

“We’ve had a very strong start to 2024, with more dealer offers in our daily online auctions being accepted in January than ever before – a 63% increase year on year.”

In December, Carwow launched a car-check service to help car buyers check the condition of a vehicle before they buy. The company also revealed a new logo as part of a global rebrand.

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