Carwow auctions see 48% jump in dealers bidding

Carwow‘s online daily auctions saw dramatic growth during the first quarter of 2024.

A 37% year-on-year uplift in the total volume of live listings led to a 48% rise in the number of dealers bidding and a 44% increase in the number of dealers making purchases.

Private sellers listed close to 50,000 cars and light commercial vehicles via Carwow auctions during the first quarter, and the number of customers requesting an online vehicle valuation rose by 68%, year-on-year.

The first quarter showed an average sale price on Carwow auctions tracking below cap Clean for the fourth consecutive quarter, and dealer profitability was further aided by low buyer fees.

Sally Foote, chief commercial officer - Sell my Car at Carwow said: “We offer dealers access to a broad range of ever-changing stock and a wealth of consumer data and insight. By facilitating dealers to make more informed decisions, we can help drive profitability and dealers are voting with their feet, demonstrating their growing trust in Carwow as a stock-sourcing partner.

“We will be enhancing our dealer proposition further over the coming months with more exciting, value-added initiatives.”