Brits lose up to £7 billion when selling their cars as 32% compromise on price for the sake of a quick sale

●    Two thirds (69%) of adults would be willing to sell their car for less than it’s worth if doing so made the process more straight-forward

●    Of those who sold their car, over half (54%) believe they sold it for less than it was worth, an average of £977 under valuation

●    70% of Brits feel they need to compromise on either time or money when selling their car reveals online used-car marketplace Motorway

Research commissioned by online used-car marketplace Motorway has shown that despite prices for used cars reaching record highs, three quarters (76%) of Brits find the process of selling their car daunting and seven out of ten (70%) are knowingly compromising on cash for a quick sale.

With a third (32%) of us saying we don’t have the time to find the best price and one in four (28%) of us accepting the first offer for our car, it’s clear that we’re not getting the best value when it comes to selling our motors. In fact, almost nine out of ten (85%) admit the priority when selling a car is simply to get rid of it as quickly as possible, leading to an average loss of almost a thousand pounds (£977) when selling.

As time is of the essence for sellers, almost half (49%) are likely to have lost money when selling their car because they didn’t do simple things like buying new floor mats, changing the oil and making small repairs. Other common oversights and issues among everyone polled include not having an up-to-date service history (14%), not having their car valued before sale (12%), and struggling with paperwork (10%).

Seven in 10 drivers admitted putting off selling their car because of the hassle, and 76% said they found the process of selling their car daunting. It also emerged over two thirds (69%) have felt out of depth when selling their vehicle with 64% ending up feeling ripped off. The biggest desires when selling were getting the highest price, a speedy sale and minimising the effort required.

When selling their car, only 14% felt very confident they got a good price, with an acceptance by 69% that they would be willing to take an offer less than market value in order to make the process easier. 62% admit they regret rushing to sell cars in the past because they received less money for them as a result.

Motorway’s extensive network of over 5,000 verified dealers means motorists don’t have to compromise on time, price or convenience when selling their cars and, since the process is online, they can do so from the comfort of their own homes.

A spokesperson for online used-car marketplace Motorway, which commissioned the research, said: “Selling your vehicle can be a headache for many, particularly if you don’t feel confident or knowledgeable about cars, but there is an easy and simple way to sell your car online for a good price. At Motorway, our extensive dealer network matches each seller with the dealer willing to pay the most, in as little as 24 hours and free of charge, taking the hassle out of selling.”

Jodie Kidd, automotive enthusiast, commented: “Although now is a good time to take advantage of high used car prices, selling a car yourself can seem like a daunting prospect and ultimately, it can be difficult to know if you’re getting a fair price. Thankfully, Motorway has made the process as quick and simple as possible, without having to compromise on time or money. And you can do it from the comfort of your sofa, cup of tea in hand.”

To find out more and for a no-obligation quote, visit Motorway.co.uk to find out what you could get for your car.

ENDS

Notes to editors

Research carried out in April 2022 by OnePoll with a sample of 2,000 British adults aged 18+ who had sold their car in the last five years.

In the survey of 2000 UK adults aged 18+ who have sold their car in the last five years, on average 54 per cent of respondents sold their car for less than they believe it’s worth, averaging at £977 under the market value. £977 * 7.5 million (2021 UK used car transactions, SMMT) = £7.3275 billion, potential to be lost

Contact

For further information, contact motorway@hopeandglorypr.com or the team on 020 3588 9700

About Motorway

Motorway is the UK’s fastest-growing used car marketplace. We connect people selling their car directly with our network of more than 5,000 verified car dealers, matching each seller on our platform with the dealer who most wants to buy their car. We help car owners sell their cars 100% online for the best price in as little as 24 hours, with their car collected from home for free, while supporting our car dealer partners to easily acquire the best used car stock.

Jodie Kidd in Car
Automotive enthusiast Jodie Kidd

Motorway set to become one of Brighton’s fastest growing employers with 30% planned increase in headcount

Brighton, 23rd March 2022Motorway, the used car marketplace, has today announced a significant recruitment campaign in Brighton to hire 50 staff over the next 6 months, making it one of the city’s fastest growing businesses with 210 staff overall.

This investment into Brighton talent follows 300% YOY growth of the Motorway business, which has taken the wider team from 50 to 300 in the last 18 months.  Motorway now plans to increase the size of its flagship customer service centre, based in Brighton, by 30% to support the ever-growing consumer demand for a quick and easy way to sell a car, for a great price from the comfort of home. 

To support this new recruitment drive, Motorway has recently moved into larger office space in Brighton, relocating from Air Street to West Street in the centre of the city. The new offices will house up to 270 employees, and include a meditation and prayer space as well as a Brighton beach themed social space and cafe for staff. 

James Wilson, COO of Motorway, says:

“Motorway is now selling over 8,000 cars a month, with a new sale being agreed every five minutes. This incredible growth would not have been possible without the amazing team we have in Brighton supporting our customers every step of the way.

“Our customer service centre is at the very heart of our strategy to put customers first so investing in finding the best talent in Brighton is crucial. This new recruitment drive will make us one of the fastest growing employers in Brighton and we look forward to welcoming more local talent as we grow our business.”

In addition to offering highly competitive salaries, Motorway has a people-first approach towards its benefits scheme, with access to high-quality health & wellness options so the team feels supported to do their best work. Staff benefit from a personal learning and development budget to spend on a wide range of books, courses and conferences. Subscriptions to services like Headspace and Audible are also included alongside access to an electric car leasing scheme, private healthcare, pension, enhanced parental leave and a cycle to work scheme.

To enquire about current vacancies please visit https://careers.motorway.co.uk/

About Motorway

Motorway is the UK’s fastest-growing used car marketplace.  We connect people selling their car directly with our network of more than 5,000 verified car dealers, matching each seller on our platform with the dealer who most wants to buy their car.  We help car owners sell their cars 100% online for the best price in as little as 24 hours, with their car collected from home for free, while supporting our car dealer partners to easily acquire the best used car stock.

For more information visit www.motorway.co.uk

For press enquiries, please contact:

Emma Hazan

Sidekick Comms

E: emma@sidekickcomms.com

M: +44 7909 510787

A price hike that’s far from MINI: iconic British brand leads 30% uplift in price of used cars

Motorway data shows there’s never been a better time to sell a used car as hot hatches and estates show highest increases since 2021

Second-hand car prices have risen 30% over the last twelve months according to leading used car marketplace Motorway.co.uk. The increase has been driven by lengthy waiting times for new cars, which has meant that motorists have turned to the used car market.

Leading the price increases have been hot hatches (where prices have increased on average 35.8% year-on-year) and the estate market (where prices are up 32.8% on average).

For example, an average Mini Cooper would have fetched £5,056 in February 2021 whereas prices have reached £9,627 in 2022. Meanwhile, a Volkswagen Polo Match 60 that would have netted a sale price of £3,508 a year ago will generate £6,229 on average today.

The highest rises across makes and models between 2021 and 2022

MakeModel20212022% +
MINICooper£5,056£9,62790.42%
MINIOne£3,508£6,22977.58%
VOLKSWAGENPolo Match 60£2,318£4,04474.46%
FORDFiesta Titanium Turbo£7,493£12,20162.84%
VOLKSWAGENPolo Match TSI£8,233£12,94257.19%
BMW520D M Sport£12,797£19,92155.66%
NISSANQashqai Tekna DCI£8,650£13,03850.73%
FORDFocus Zetec£5,775£8,64449.69%
FORDFiesta Titanium£3,619£5,41649.67%
FORDFocus Titanium£7,929£11,73948.04%


* based on real prices paid by dealers on Motorway.co.uk for a vehicle during February 2021 and February 2022.

Alex Buttle, co-founder at Motorway, said:

“With wait times of up to 12 monthsfor a new car due to supply problems, motorists have turned to the used car market to get their next car, which means that many dealers are on the hunt for new stock. There’s never been a better time to sell. From hot hatches to family saloons, SUVs to sports cars, we’ve got dealers searching for used cars and willing to pay for a wide range of quality stock.”

The highest increases by category*

Body Type20212022% Increase
Hatchback£8,537£11,59535.81%
Estate£17,326£23,02332.88%
Saloon£14,070£18,47631.32%
Coupe£18,691£20,94612.06%
Convertible£14,794£15,6325.66%
Pick-up£21,031£21,7453.39%


* based on real prices paid by dealers on Motorway.co.uk for a vehicle during February 2021 and February 2022

Motorway, founded in 2017, has seen interest in online car sales surge over the pandemic as volumes grew 188% between February 2021 and February 2022. Motorists value the car they want to sell, profile their vehicle and then agree a reserve price – guided through the process by Motorway – and over 5,000 dealers across the country bid for their vehicle.

Alex Buttle added: “Before Motorway, drivers had to accept the best price they could find from dealers themselves – and spend the time going from dealer to dealer to secure it. Now they can get a great price from dealers across the country in just a few clicks and, almost regardless of the make or model, there is likely a dealer out there searching for every car our customers are selling.”

To find out more and to get a free car valuation, visit Motorway.co.uk.

ENDS

Notes to editors

For further information about wait-times for new cars see here for reference: https://www.honestjohn.co.uk/news/car-market-1/2022-03/2022-new-car-prices-rise-by-up-to-26-per-cent/

Contact

For further information, contact motorway@hopeandglorypr.com or the team on 020 3588 9700

About Motorway

Motorway is the UK’s fastest-growing used car marketplace.  We connect people selling their car directly with our network of more than 5,000 verified car dealers, matching each seller on our platform with the dealer who most wants to buy their car.  We help car owners sell their cars 100% online for the best price in as little as 24 hours, with their car collected from home for free, while supporting our car dealer partners to easily acquire the best used car stock.

Motorway to sponsor ITV’s live coverage of the Guinness Six Nations

ITV today announces that Motorway is the new stand-alone sponsor of the broadcaster’s live Guinness Six Nations coverage across 2022 and 2023.

Motorway, the UK’s fastest growing used car marketplace, will sponsor ITV’s live coverage of the tournament, encompassing broadcast sponsorship of coverage across ITV and STV.

The two-year sponsorship agreement planned and brokered by Motorway’s media agency, MG OMD, will include a comprehensive activation package, including catch-up sponsorship on the ITV Hub, digital creative executions, and social support on ITV Platforms and on Twitter Amplify for the 2022 and 2023 tournaments. Creative executions and sponsorship idents will be produced by Motorway’s creative agency, Wonderhood Studios.

As part of increased coverage of the tournament beginning this year, ITV will provide exclusive live coverage of ten of the fifteen matches during the six-week tournament, starting on Saturday February 5 with Ireland’s game against Wales at the Aviva Stadium in Dublin, which kicks off the tournament.

ITV’s ten games include all home matches of England, Ireland, Italy and France.

Lloyd Page, CMO at Motorway, said:

“We’re proud to partner with ITV and bring one of the biggest sporting tournaments in the world to millions of rugby fans via our sponsorship of ITV’s Live Coverage of the Guinness Six Nations. After a year of outstanding growth, this sponsorship gives us a fantastic opportunity to continue driving awareness of Motorway as the best way for people to sell their car for free, thanks to our easy-to-use website and access to thousands of dealers in our nationwide dealer network.”

Tom Cocker, Executive Director at MG OMD, said:

“We are delighted to support Motorway in their sponsorship of the upcoming Guinness 6 Nations coverage on ITV. This represents the next exciting stage in the Motorway journey, to build on current successes, and drive brand fame and salience in an incredibly competitive and buoyant car selling market. Working with ITV offers a unique opportunity to connect with key audiences at scale across multiple platforms. We are incredibly excited to see it come to life.

Simon Daglish, Deputy Managing Director of ITV Commercial, said:

“This fantastic new deal brings ITV together with an emerging major player in the market, extending their brand reach to a whole new audience and providing an opportunity for us to work with them on a comprehensive and innovative sponsorship package. With England, Ireland, France and Italy home games now forming our Six Nations portfolio, we’re bringing ITV viewers a wealth of superb rugby that forms part of our year of live sport in 2022.”

– Ends –

Notes To Editors

For more information please contact Tom Hodson on 07557 494401 or tom.hodson@itv.com

About ITV

ITV connects millions of people every day, making content they can’t get enough of, and reflecting and shaping the world we live in… and we do all this through the power of creativity.

We are a leading media and entertainment company, with the largest free-to-air commercial television network in the UK, a global production and distribution business and a growing Direct to Consumer business. Engaging audiences in the UK and around the world with creative, high-quality content is at the core of everything we do.

We reach over 40 million viewers every week with our programmes on ITV’s family of channels, as well as through ITV Hub.

ITV Studios is home to some of the best creative minds, crafting over 7,000 hours of original programming across 60 production labels. Our global footprint spans 13 countries including the UK, US, Australia, France, Germany, Spain, The Nordics, Italy and the Netherlands and our global distribution business sells our catalogue of 90,000+ hours to broadcasters and platforms around the world.

ITV has several SVOD services with over 3 million subscribers worldwide, including BritBox UK, BritBox International which is available in the US, Canada, Australia, and South Africa and will soon be available in The Nordics, and ITV Hub+ (the ad-free version of the ITV Hub with download functionality).

Our Social Purpose is to shape culture for good. It is an integral part of how we set and deliver our business goals, and has four focus areas: Better Health, Diversity & Inclusion, Climate Action and Giving Back.

About Motorway

Motorway is the UK’s fastest-growing used car marketplace – the online-only platform connects private car sellers with thousands of verified dealers nationwide, ensuring everyone gets the best deal.

Since launching in 2017, Motorway has grown to a team of over 250 and has completed over 100,000 successful car sales for customers across the UK. 

For more information visit motorway.co.uk