(PRESS RELEASE) BRAUNSCHWEIG, 15-Aug-2019 — /EuropaWire/ — Successful online used car marketplace “heycar” expands internationally into the United Kingdom. Providing high-quality used vehicles with warranty to used car buyers in England, Wales, Scotland and Northern Ireland at www.heycar.co.uk. The heycar brand operates under Mobility Trader UK Ltd. in the United Kingdom. Mobility Trader UK is a wholly-owned subsidiary of Mobility Trader Holding GmbH and is a sister company of the German Mobility Trader GmbH. Mobility Trader Holding GmbH’s shareholders are Volkswagen Financial Services AG with 80 percent of the shares and Daimler Mobility AG with 20 percent.
Frank Fiedler, CFO of Volkswagen Financial Services AG, comments: “We are pleased that heycar has now taken the first step towards an international expansion. Following the positive reception of heycar in Germany, we now want to serve dealers and customers in the United Kingdom just as successfully and thus further expand our used car business.”
heycar brings greater transparency and trust to the used car market in the UK. Through partnerships with trusted dealers, all major automotive brands are available in heycar. All vehicles offered at heycar are less than eight years old and have done less than 100,000 miles and come with a warranty. Being the second largest used car market in Europe, United Kingdom benefits from heycar’s simpler solution to search for and find their used car, complete with a finance quote, in a seamless online journey.
Mat Moakes CEO of Mobility Trader UK Ltd, added: “The UK used car market, the second largest in Europe after Germany, works inefficiently for buyers and dealers. heycar will disrupt this industry through a simple, tech-led proposition and will take market share from the incumbents to become the number one site for high quality used cars in the UK.”
heycar starts in the UK with over 100,000 used cars from nearly 50 brands and as the company expands partnerships with dealer groups across the UK, it will continue to add more vehicles to its platform.
heycar was launched in Germany in October 2017. Currently, around 400,000 vehicles from different brands are available on the platform.
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Volkswagen Financial Services key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,267 employees worldwide – including 7,010 alone in Germany. Volkswagen Financial Services report total assets of around EUR 207.6 billion, an operating result of EUR 2.6 billion euros and a portfolio of around 20.3 million current contracts (as at: 31.12.2018). Volkswagen Financial Services is a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg.
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Marc Siedler (Press spokesman)
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SOURCE: Volkswagen Financial Services