Motorway

We are extremely honoured to win the Online Used Car Trading Platform Award at the Motor Trader Industry Awards 2021. 

This year’s awards ceremony took place on Tuesday 30th November at London’s iconic Grosvenor House Hotel on Park Lane.  

A huge thank you to our fantastic team for all your hard work throughout another challenging year. Congratulations to all the winners, and a huge thank you to Motor Trader Magazine’s editor John Kirwan and to the judges for believing in our service!

As the UK’s fastest-growing used car marketplace, we love helping dealers buy better stock online, without the middlemen. 

Motorway sales director James Bush said:

“We are absolutely thrilled to be awarded the best Online Trading Platform of the Year at the illustrious Motor Trader Awards 2021.

“Everyone at Motorway is extremely passionate about giving our sellers and dealers the ultimate experience in buying and selling cars. To receive such a prestigious award, at an event like this, is a very proud moment for everyone across the business.

“With the vast expansion plans we have in place for 2022, we are aiming to provide an even slicker place to buy and sell cars – and we are really excited to take this accolade to spur us on to further achievements in the new year.”

Dealers can sign up to buy exclusive, privately-owned used car stock at Motorway here.

• Motorway is valued at over $1bn in a new funding round of $190m, co-led by Index Ventures and ICONIQ Growth, with existing investors Latitude, Unbound and BMW i Ventures also participating
• Motorway has seen 300% YOY growth and is on a run-rate to deliver more than $2bn in sales over the next 12 months
• Company also announces the appointment of James Wilson, former Director of Marketplace Fulfillment at Amazon UK, as Chief Operating Officer 

Motorway, the UK’s fastest growing used car marketplace, has today achieved unicorn status with a valuation of over $1bn following a $190m Series C funding round. 

The round is led by Index Ventures, backers of Deliveroo, Etsy and Dropbox, and ICONIQ Growth, a leading Silicon Valley technology investment firm and partners of Collibra, Miro and Wolt. Existing investors Latitude, Unbound and BMW i Ventures also participated in the round. 

Revolutionising the used car market

Motorway enables customers to quickly and easily sell their car for the best price from the comfort of home using only a smartphone. With a network of 4,000 professional car dealers using the platform to directly bid on these vehicles, Motorway helps customers sell their car for up to £1,000 more in as little as 24 hours – while supporting its car dealer partners to acquire the best used car stock online.

Motorway’s rapid growth 

Motorway’s continued focus on product innovation and improving the customer experience meant it was well positioned to capitalise on the behavioural change driven by the pandemic, with both dealers and car owners increasingly seeking to buy and sell cars online. As a result, Motorway recorded a 300% uplift in third-quarter sales to $411 million compared with $105 million last year.

Over 100,000 used cars have been sold on Motorway since launch, with over 8,000 cars currently being sold a month and a new sale being agreed every five minutes. This recent surge in sales puts Motorway on a run-rate to deliver over $2bn in completed sales over the next year, making it one of the world’s fastest growing online used car marketplaces.

Investment in the customer experience

This new $190m investment will be used to hire the best tech talent and build a world-class team across the business, focussed on improving the customer experience and making Motorway the definitive way for people to sell their cars.  The team is expected to grow from 250 to over 350 over the next 12 months.

​​Along with the investment round, Motorway is also announcing the appointment of James Wilson, former Director of Marketplace Fulfillment for Amazon UK, as Chief Operating Officer. James brings significant experience in online commerce for both consumers and businesses, delivering world-class customer experiences at scale. This follows Motorway’s appointment of Lloyd Page (formerly of Moneysupermarket and John Lewis) as Chief Marketing Officer earlier this year.

Tom Leathes, CEO of Motorway, says:

“In 2017, we set out to reinvent how people sell their cars, transforming a broken offline process by introducing a superior online experience. Our team has dedicated themselves to this mission through unprecedented times – enabling us to turn a traditionally lose-lose market into a win-win for our customers and dealer partners.

“We’re now completing over 8,000 car sales a month. That’s a big number, but still less than one percent of UK used car sales – so there’s massive opportunity ahead. We’re thrilled to be working with the teams at Index, ICONIQ and the other investors in this new funding round. It will help us scale even faster, as we strive to build the best technology team in Europe, and change the used car selling experience for the better.”

Danny Rimer, Partner at Index Ventures, says:

“Since joining the board, following our initial investment in June, I have experienced first-hand just how fast Motorway is growing and how agile the team is in scaling the business to support this incredible growth.  Strong leadership, coupled with great technology to fuel an incredibly powerful platform, has enabled Motorway to step up a gear and move into the fast lane –  they’ve taken advantage of the strong market conditions and changing consumer and dealer behaviour to become the go-to place for people selling their car.” 

Yoonkee Sull, Partner at ICONIQ Growth says:

“The used car market’s move online is only accelerating and we believe Motorway is delivering the best consumer experience and the most differentiated supply to dealers in the UK. We believe that while Motorway has already exhibited exceptional growth, the company is just at the beginning of its journey. We are thrilled to support the entire Motorway team in their mission to become the most trusted brand and destination for used car transactions for years to come.”

Motorway previously raised $67.7m in a Series B round in June 2021. This latest investment brings its all-time raise to $273m since it was founded by serial entrepreneurs Tom Leathes, Harry Jones and Alex Buttle in 2017. With offices in London and Brighton, the team has since grown to 250, more than half of whom are in the technology, design or product development teams.

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London’s Ultra Low Emission Zone (ULEZ) is set to expand on Monday, yet only 43% of motorists in and around the city are aware, according to new research from used car marketplace, Motorway. 

Cars, motorcycles, specialist vehicles, and minibuses will either need to meet the ULEZ emission standards or pay a £12.50 daily charge when driving within the expanded zone. While car owners can check compliance of their vehicle with Motorway’s ULEZ checker, only 35% of motorists in and around London know how to check if their vehicle will be charged.

Even fewer motorists are confident on the new boundaries.  While 73% are aware Central London will be included: 

• Only 29% are aware it stretches across areas of South West London (including Croydon, Kingston upon Thames, Merton, Richmond upon Thames, Sutton, and Wandsworth) 
• Only 33% areas of West London (including Brent, Ealing, Hammersmith and Fulham, Harrow, Hillingdon, Hounslow, Kensington, and Chelsea) 
• Only 33% in the North (including Barnet, Enfield, Hackney and Haringey)
• Only 33% in the South East (including Bexley, Bromley, Greenwich and Lewisham) 
• Only 37% in the North East (including Barking and Dagenham, Havering, Newham, Redbridge, Tower Hamlets and Waltham Forest)

In fact, from 25^th October, the existing zone in central London will expand to the North Circular Road (A406) and South Circular Road (A205) – potentially putting many out of pocket as they adjust to the changes. Londoners that are returning to the office even just two days a week and entering the ULEZ in a non-compliant vehicle, would incur £1,125 in charges per year, while a driver who entered the ULEZ five days a week for work would have to pay up to £2,800 a year.*  

Therefore, it is unsurprising 31% would like to learn more about the zone, and one in seven (14%) plan to sell their vehicle within the next six months. 

As seen in recent news, there has been a surge in interest for electric vehicles, with two thirds (65%) of motorists in and around London likely to buy an electric vehicle in light of the expansion. 

This is despite the fact 29% are concerned that they would not be able to charge the vehicle at home, while 28% are worried that their freedom will be limited when waiting for the car to charge. However, 30% of those surveyed do think that it is necessary for the London ULEZ to be extended to improve the air quality.

Motorway has launched a ULEZ checker to help people find out if their vehicle meets the emissions standards of the expanded zone.  The online tool has already completed over 30,000 ULEZ compliance checks in the first seven days since its  launch on Tuesday 12th October.

Tom Leathes, CEO at Motorway, says:

“Despite having over three years to prepare for the ULEZ expansion, more than half of drivers in and around London are clearly still in the dark about this news and will get a nasty surprise when they cross the north or south circular on Monday.  If the car you’re driving means you’ll be charged when you enter the ULEZ, then selling it may be an obvious choice to save money.  

“With used car prices at an all-time high, now is a great time to sell – and even non-compliant cars are going for great prices as those who live outside of Clean Air Zones like the ULEZ won’t be feeling the pinch of these fuel charges.”

Amanda Stretton, motoring expert said: 

“It’s really shocking that despite Transport for London’s best efforts to communicate the expansion of the ULEZ  only 43% of drivers around the London area have a clue about it. Add to that only 35% know how to even check if their vehicle will be charged! Clearly motorists have had their heads in the sand about this but with more cars on the road now that people are returning to work, we will see a large number of unaware drivers facing penalties from 25th. It will be interesting to see if these penalties translate into an increase in these types of cars going for sale in the not too distant future.”

• Massive change is underway in the global used car industry.  New car sales are at an all-time low, while used car demand is at an all-time peak
• Used cars appreciated by 30% in September 2021 vs. September 2020
• Values have been steadily increasing month-on-month, with the biggest jump in June (+16%) 
• Motorway is a marketplace connecting consumers selling their car with professional car dealers acquiring stock – getting the best possible deal for both parties, and 100% online
• Motorway has seen +300% YOY growth after record £306m sales in Q3 2021
• Company is now on a run-rate to deliver over $2bn in completed sales over the next year

Investing in used cars could soon be a better bet than investing in your pension. With prices for a second hand car surging to unprecedented levels, the value of your car is currently rising every time you take it for a spin. 

Whereas cars typically depreciate as soon as they leave the forecourt, this year has seen a complete reversal in used car values.  Second-hand vehicles have skyrocketed in the last nine months, with the average value of vehicles soaring by over 30% YoY, according to Motorway, the UK’s fastest-growing way to sell your car.  

While the pandemic led to record numbers of consumers looking to buy or upgrade cars with the money they hadn’t spent on holidays or entertainment, the shortage of new cars coming to market – as a result of the semiconductor supply crisis – has turned consumers to the used car market instead. But the new car shortage has had a knock-on effect on used cars too – less new cars also means less used cars available too.  Coupled with a massive increase in consumer demand, the used car market that was already heating up, has turned red hot and prices for used cars are now going sky high. 

Motorway’s growth 

With the pandemic fueling a fundamental behavioural change in both dealers and consumers to buy and sell cars online, both groups have turned to Motorway.  At the same time, consumer demand for a simple, fast and online way to sell their car is rising month-on-month.  As a result,  Motorway has seen a four-fold YoY surge in sales and +65% growth in Q3 sales versus Q2 this year. 

The company recorded a +300% uplift in third-quarter sales to £306 million compared with £78 million last year. Between July and September this year, Motorway sold 20,076 cars.  This accelerated growth has continued, with Motorway now selling well over 8,000 cars a month, with £140m cars sold in September alone.  Over 100,000 used cars have been sold on Motorway since launch, with a new sale now agreed every five minutes.

This recent surge in sales puts Motorway on a run-rate to deliver over $2bn in completed sales over the next year, making it one of the world’s fastest growing digital automotive marketplaces.

The new way to sell your car 

Motorway helps consumers to sell their car for up to £1,000 more from the comfort of home. It’s simple, fast and free – a car can be profiled and uploaded onto the Motorway website using only a smartphone. Over 3,000 professional car dealers can then bid for the vehicle in a daily online auction, with the highest offer winning the car. Their car is then collected for free by the winning dealer in as little as 24 hours. 

Cutting out the middlemen and moving the whole process online, Motorway removes the hassle and the haggle, helping car sellers and car dealers get a better deal fast, and all entirely remotely.

Motorway data on appreciation of used cars comparing Q3 2021 with Q3 2020

Exclusive data from Motorway sales reveals the month-on-month increases in the average value of vehicles sold on Motorway since September 2020 and a breakdown of prices achieved by popular models:

• A Porsche Cayman has steadily increased by +23%, going for £5,480 more than Q3 2020
• At the other end of the scale, a Ford Focus has appreciated by over +34%, selling for £3,346 more than last year. 
• Looking at the used EV market, a Tesla Model S sold for +14% higher than it went for last year
• Even at the cheaper end of the market, pieces have seen huge increases – a Vauxhall Agila went for £2,300, +46% higher than Q3 2020 
• An Aston Martin Vanquish rose by +38% just sitting in the driveway during lockdown

Table 1: Month-on-month increases in the average value of vehicles sold on the platform since September 2020

Month-on-month
Month	Avg Value	% +/- v. Sept 2020	£ +/-
Sep-20	£14,895
Oct-20	£15,430	3.59%	£535
Nov-20	£14,126	-5.16%	-£769
Dec-20	£14,242	-4.38%	-£653
Jan-21	£14,445	-3.02%	-£450
Feb-21	£14,122	-5.19%	-£773
Mar-21	£13,899	-6.68%	-£996
Apr-21	£14,758	-0.92%	-£137
May-21	£15,296	2.69%	£401
Jun-21	£17,267	15.92%	£2,372
Jul21	£17,708	18.89%	£2,813
Aug21	£18,836	26.46%	£3,941
Sep21	£19,427	30.42%	£4,532

Table 2: A breakdown of prices achieved by popular models comparing Q3 2021 with Q3 2020

Q321 v. Q320
Make	Model	Q320	Q321	Q320 v. 21 (%)	Q320 v. 21 (£)
Mercedes	Q3	£16,763	£20,082	19.80%	£3,319
Volkswagen	Tiguan	£14,398	£18,123	25.87%	£3,725
Mini	Cooper	£9,734	£12,522	28.64%	£2,788
Ford	Focus	£9,963	£13,309	33.58%	£3,346
Porsche	Cayman	£23,750	£29,230	23.07%	£5,480
Tesla	Model S	£42,718	£48,531	13.61%	£5,813
Nissan	Qashqai	£9,294	£11,525	24.00%	£2,231
Audi	Q3	£16,672	£20,082	20.45%	£3,410
BMW	M235I	£17,791	£21,531	21.02%	£3,740
Land Rover	Discovery	£24,392	£28,800	18.07%	£4,408
Honda	Jazz	£7,548	£8,464	12.14%	£916
Vauxhall	Agila	£2,300	£3,356	45.91%	£1,056
Volkswagen	Eos	£4,569	£6,031	32.00%	£1,462
Aston Martin	Vanquish	£61,166	£84,000	37.33%	£22,834
Lotus	Exige	£58,150	£75,000	28.98%	£16,850

Do you own a diesel car? Then this may be the most important article you’ll read all year.

Because it could save your HUNDREDS, or even THOUSANDS of pounds.

Here’s why…

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• Valuations of used diesel cars, five years old or less, fell £1,478 (-10.3%) on average between the start of 2017 and the end of 2018
• Equivalent petrol car prices were up £895 (+10%) across the same period – suggesting a major shift in demand from diesel to petrol fuelled vehicles
• Most major car brands (including Ford, VW & Vauxhall) saw diesel prices drop – biggest falls seen with Land Rover, BMW & Audi
• Data based on a sample of 130,000 valuations of up-to-5 year old diesel and petrol cars on Motorway.co.uk in 2017 and 2018

London, 29th January 2019 – The average price of a used diesel car fell by -10.3% between Q1 2017 and Q4 2018. Diesel car values dropped 5% through 2017, on the back of consistent negative news about the fuel, and new data shows that slump continued through 2018 at a near-identical rate.

The analysis from car buying comparison website Motorway.co.uk also shows equivalent used petrol prices increasing +10% between Q1 2017 and Q4 2018, suggesting a fundamental change in mass consumer sentiment away from diesel towards petrol. This is now a clear trend over two years that shows no signs of changing.

Motorway.co.uk analysed two years of valuations for more than 130,000 used cars valued on its website, which aggregates live offers from popular online car buying websites and used car dealers. The study looked at trends over time for cars under five years old across all brands, and the two major fuel types – diesel and petrol.

The following table shows average quarterly prices of used diesel and petrol cars from Q1 2017 to Q4 2018:

2017 & 2018 used car valuations – diesel & petrol
Vehicles less than 5 years old

Period	Diesel	Petrol
2017 Q1	£14,327	£8,912
2017 Q2	£13,799	£8,979
2017 Q3	£14,338	£9,668
2017 Q4	£13,605	£9,765
2018 Q1	£13,608	£9,611
2018 Q2	£13,073	£9,386
2018 Q3	£12,622	£9,370
2018 Q4	£12,849	£9,807
Q1 ’17 to Q4 ’18 Change	-10.31%	10.04%

Source: Motorway.co.uk, Jan 2019

As the data shows, diesel prices fell -5% a year in both 2017 and 2018 – a total of -10.3% over the two-year period, representing a consistent downward trend. The average diesel value in Q1 2017 was £14,327, dropping to £13,605 by Q4 2017, and £12,849 a year later – a fall of £1,478 for the average used diesel.

Meanwhile the average petrol price went up +10% from £8,912 in Q1 2017 to £9,807 by Q4 2018, an increase of £895 over the same period of the study.

Car makes

Motorway.co.uk also analysed diesel and petrol valuation data for individual car makes. The research revealed significant differences in how different brands have changed over the past 12 months and two years.

Looking at the most popular makes valued during 2017 and 2018, most major car brands including Ford, Mercedes and Volkswagen saw diesel price drops, with the biggest falls seen with Land Rover, BMW, Vauxhall & Audi.

The average price of a used BMW diesel car has slumped by –16.1% since the start of 2017, falling almost £3,000 from £17,269 in Q1 2017 to £14,441 in Q4 2018. This compares with average prices of BMW petrol variants which have remained steady (falling just –0.6%) over the same period. While the average price of a diesel Audi has fallen –14.3% since the beginning of 2017, compared to a +8.4% increase in price for the petrol variants.

The average price of a Land Rover – almost all of which are diesel-powered – was down more than £6,000 from £30,493 to £24,399 between Q1 2017 and Q4 2018 (a fall of -20%).

The following table shows average used diesel and petrol car values for popular makes of car, comparing Q1 2017, Q4 2017, and Q1 2018:A

Average valuations for diesel & petrol variants

Popular brands – change 2017 – 2018

Diesel Models	Q1 ’17	Q4 ’17	Q4 ’18	Change
Audi	£17,195	£15,933	£14,740	-14.30%
BMW	£17,269	£15,057	£14,481	-16.10%
Ford	£10,153	£9,666	£9,447	-7.00%
Hyundai	£9,773	£9,386	£9,414	-3.70%
Land Rover*	£30,493	£28,395	£24,399	-20.00%
Mercedes	£17,346	£16,805	£15,351	-11.50%
Nissan	£11,110	£9,863	£9,905	-10.80%
Peugeot	£7,353	£6,953	£7,145	-2.80%
Vauxhall	£8,064	£7,038	£6,860	-14.90%
Volkswagen	£12,437	£11,426	£11,087	-10.90%

Petrol Models	Q1 ’17	Q4 ’17	Q4 ’18	Change
Audi	£16,467	£17,444	£17,854	8.40%
BMW	£18,347	£18,940	£18,245	-0.60%
Ford	£7,784	£8,711	£7,967	2.30%
Hyundai	£5,078	£5,870	£5,708	12.40%
Land Rover*
Mercedes	£22,537	£21,244	£20,924	-7.20%
Nissan	£8,431	£9,347	£9,202	9.20%
Peugeot	£5,625	£5,998	£5,676	0.90%
Vauxhall	£6,051	£5,714	£5,628	-7.00%
Volkswagen	£10,270	£9,693	£10,053	-2.10%

* Land Rover vehicle valuations are 97% diesel from 2017-2018

Source: Motorway.co.uk, Jan 2019

Alex Buttle, director of car buying comparison website Motorway.co.uk comments:

“It’s been a tough couple of years for diesel owners. Having been penalised by the Government and ripped apart by the press, diesel prices slumped in 2017. Although we saw early signs of resilience in the first half of 2018, any recovery has been undone recently by worsening consumer sentiment towards diesel. This followed the announcement of wider, more punitive emission zones in London and more rigorous emissions testing for all cars later in the year.

“Increasingly, people looking to buy a used car are deciding on fuel type before choosing what make and model they want to purchase. More people are opting for petrol and diesels are suffering.  Despite newer Euro-6 diesel engines now matching many petrol equivalents for emission levels, consumer sentiment has simply moved away from diesel – possibly forever.

“Perhaps the most interesting trend was used diesel Land Rovers dropping in price by a massive -20% over two years. This suggests they are losing their appeal at the expensive end of the used car market, as more affluent buyers are opting for other options from the likes of Audi, BMW, Volvo and Mercedes – where petrol variants are showing comparatively buoyant valuations.

“But it’s not just with bigger, premium SUVs and 4x4s. Smaller, cheaper used diesels are seeing falling prices too. To add to its woes, Vauxhall has also suffered with a -14.9% average drop in used diesel prices. Meanwhile, most petrol variants of smaller cars across the market are increasing in price, unlike their diesel counterparts.

“Across the UK car market, diesel prices are struggling to maintain buoyancy and this long term trend could be irreversible. The outlook for diesel values into 2019 looks very bleak indeed. Is the era of the diesel gas guzzler over?”

Updated 19/10/2020: All buyers on our platform are completing transactions in a contact-free way.

This post outlines how our service is affected by the current coronavirus situation, and what you can expect if you sign up to compare prices on our website at this time.

Motorway works with major online car buyers and thousands of individual dealerships around the UK to provide a range of instant offers for your car with a single search – helping you find your best deal as quickly as possible.

After the government’s announcement in March of restrictions on movement, much of the car industry stopped trading. These restrictions on movement have now lifted, and buyers and dealers are able to purchase vehicles again following social distancing guidelines.

All buyers on Motorway buy cars in a contact-free manner to keep sellers safe. You can read more about our guidelines for no-contact car selling here.

As well as online car buyers, our Premium Service is also purchasing cars and has been expanded to work with a broader range of vehicles. Using this service, we are able to profile your vehicle, and search for the highest offer from our nationwide network of over 1,500 dealers across the UK.

Some dealers are still closed, but most are now trading with online-only transactions and no-contact collection.

We will update this page regularly as our service changes and more buyers are enabled. Thank you for your patience. As always, our team are on hand to talk to you about the process at any point, and answer any questions.

Please continue to sign up on Motorway here or you can email our team with questions at any time.

Motorway, the UK’s fastest-growing marketplace for used cars, today resumes its service for private car sellers and dealers nationwide on its, having paused its daily auctions since the coronavirus lockdown was announced. 

Dealers looking to replenish their stock with premium used cars direct from private sellers will now be able to take part in Motorway’s daily auctions, with thousands of cars listed every month. 

In response to COVID-19, Motorway is also launching a new no-contact transport service that puts safety first – providing easy inspection, collection and delivery of cars to dealers in a fast and cost-effective way. 

Motorway was founded three years ago to help simplify the process of used car transactions, all online and without the traditional middlemen involved. The platform allows private car sellers to value and profile their car, and it is then listed in online dealer auctions running daily on its website. 

Motorway is now not just the fastest way to get a great deal, but also the safest. Instead of driving to auctions and coming into close contact with other people, Motorway’s transport service has been designed with the safety of dealers and transport partners in mind, keeping everyone safe and compliant with government regulations. 

To celebrate the launch of its new transport service and help its dealers get back in business, Motorway is offering two free vehicle collections for every dealer on the platform – worth over £500.

Tom Leathes, CEO of Motorway, says:

“We’re in unprecedented times in the used car industry. As everyone looks to start trading again after the lockdown, we have adapted our service to ensure Motorway is the best possible platform for dealers to buy the best cars quickly, cost-effectively and safely.

We know that dealers will now be sourcing more of their stock online, rather than driving to auctions. And to help dealers with that transition, we’re now offering every dealer – whether existing or new to Motorway – free transportation for their first two purchases on the platform.

Having been an online-only service since we launched in 2017, Motorway is uniquely positioned to support dealers in more efficient stock-acquisition processes as we enter a new era of technology-enabled trading.”

The free transport offer will run from May 11 2020 and will be valid for all dealers until 30 June 2020. All collections carried out by Motorway’s transport service will be completed in accordance with Motorway’s contact-free code of conduct, which includes guidelines on how to inspect, collect and purchase cars safely and contact-free.