U.K.-based used car marketplace Carwow has acquired automotive media company Autovia for an undisclosed sum.

Auto publishes magazines Auto Express and Evo, as well as websites CarBuyer and Driving Electric.

Autovia was spun out of Dennis Publishing by investment company Exponent after it sold the rest of the business to Future plc in October 2021. Exponent has been trying to offload Autovia ever since.

Auto Express is a weekly car magazine that was launched in 1988 and sells around 31,000 copies a week, while Evo is a monthly title that launched a decade later and has a circulation of about 20,000.

Carwow wants Autovia for the online reach of its titles to boost the former’s 65 million annual website visits. The company said the deal would “significantly grow Carwow’s reach and capabilities with in-market car buyers and sellers in the U.K.”

The deal will give car manufacturers and dealers access to a new, targeted automotive audience to complement Carwow’s YouTube channel, which has almost nine million subscribers and generated more than 1.1 billion views in 2023.

Carwow said the deal would “help meet the growing digital demand to engage with millions of consumers who are considering changing their cars.” The company said it would invest more in the magazines and create new products to monetize their audiences. The Autovia team would be integrated into Carwow, it added.

“We’ve become synonymous with creating some of the world’s most popular, entertaining and informative car content,” said Carwow CEO John Veichmanis. “We help our drivers research, shortlist, find a new car and sell their old one — all in one place.”

In 2022, Carwow, which has never made a profit, lost £29.4 million ($36.9 million U.S.) on revenue of £40.0 million after investing heavily in the business, mainly in its Sell My Car product. Its 2023 accounts are due to be published in September.

Earlier this week, Carwow announced that the number of dealers on its auction site increased by 75% year-on-year and the number of active monthly users went up by 47% during 2023. Dealers purchased 68% more used vehicles through the site in 2023 compared to the previous year, it added.

 

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