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Brighton, 23rd March 2022 – Motorway, 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

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Emma Hazan

Sidekick Comms

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●    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.

• Motorway’s four-year old online marketplace connects consumers selling their car with professional car dealers acquiring stock
• 65,000 used cars have been sold on Motorway, with currently a new sale agreed every 10 minutes
• More than 5,000 dealers across the UK compete to offer the best price, and the car is collected in as little as 24 hours
• Sales in the last 12 months have tripled, with 300% growth expected in 2021
• Index Ventures leads Motorway’s Series B financing, joined by BMW i Ventures, Unbound and others

Motorway, the UK’s fastest-growing way to sell your car, has raised £48m in venture capital investment.

The Series B round is led by Index Ventures (backers of Deliveroo, Etsy and Dropbox) and also includes additional new investors BMW i Ventures and Unbound. Existing investors Latitude and Marchmont Ventures also participated in the funding round. Danny Rimer, partner at Index Ventures will now join Motorway’s board. 

Motorway’s growth to date

Motorway has completed over 65,000 car sales through its website since it started in 2017 and has seen sales rapidly increase over the last year to more than £50m in May 2021 alone. Currently a sale is agreed on Motorway every ten minutes. The company is completing over £2.5m of transactions a day and more than 4,000 completed car sales a month. With over 10,000 5-star reviews on TrustPilot, Motorway is projecting to hit over £650m in sales in 2021, more than triple its performance in 2020.

The 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 5,000 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.

The used car market is accelerating online

Consumers and car dealers are embracing the internet to replace traditional offline and in-person car selling transactions. Motorway estimates that by the end of 2020, 5% of all vehicles were sold online – up from 1% at the start of the year. Motorway believes this will reach 20%+ as the car industry catches up with others that have already made the online transition.

While new car sales have seen a five year slump in the past year, the used car market has consistently been on the rise, with demand for used cars increasing month on month. On average, used car prices on Motorway have risen +8.2% in May versus six months ago in November. And with new car supply expected to be constrained ongoing, the buoyant used car market will continue to boom.

Investment into UK tech talent

This £48m investment will enable Motorway to significantly expand its product and engineering teams to introduce more products that improve the experience of online car sales, as well as investing in marketing to drive even greater awareness. The current 160-strong team will grow to over 200 by the end of the year, providing further jobs for the best UK talent in the months ahead.

Tom Leathes, CEO of Motorway, says:

“For half a century, inefficient offline processes have led to bad deals and a bad experience for both car sellers and car dealers. Motorway has fundamentally changed a broken experience where everyone ends up dissatisfied – and we’ve transformed it with a superior online experience where everybody wins. Cutting out the middlemen leaves both the consumer and car dealer with a better deal, all from home and without the stress. Our incredible growth so far is testament to our focus on delivering more value through technology – and this investment will provide us with the fuel to take Motorway to the next level.  

“We’re thrilled to be working with Index and the other investors in this round, and Danny Rimer’s huge technology experience and passion for our journey ahead makes him a great addition to the team.”

Danny Rimer, Partner at Index Ventures, says:

“We’re always looking to invest in companies that are truly disrupting an industry and meeting a real customer need. We have found that in Motorway. The team has built an incredibly powerful platform, underpinned by great technology and a deep understanding of the challenges both consumers and car dealers face. Motorway has quickly become the first port of call for tens of thousands of people selling their car.” 

Motorway has previously raised £14m in venture funding since it was founded by serial entrepreneurs Tom Leathes, Harry Jones and Alex Buttle in 2017. The team has since grown to 160 people across its offices in London, Brighton and remotely around the world. 

For more information, please contact press@motorway.co.uk.

• 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 5,000 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.

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

* 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*

* 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 reveals a lack of awareness ahead of new measures coming into force in Birmingham on 1st June

• 21% of UK motorists do not know what a Clean Air Zone (CAZ) is, while a further 21% are unsure
• Despite many new ones coming into force, only 16% know how to check if they will be charged when driving through a CAZ
• Just 12% know what the minimum standard for their vehicle is
• 44% agree with the principle that petrol and diesel vehicles should be charged for driving in densely populated areas
• Two thirds (66%) are not aware that a CAZ is being introduced in Birmingham on 1st June

Despite continuous media coverage over the last year about Clean Air Zones (CAZs), one fifth (21%) of UK motorists have no idea what a CAZ is, while one in three (31%) motorists in Birmingham are unaware that a CAZ is being introduced to their city on 1st June, according to research from Motorway, the online marketplace for used cars.

Clean Air Zones have been introduced in both London and Bath already and will launch in Birmingham, on 1st June 2021. They are one of several measures introduced to reduce pollution in the nation’s worst-affected areas. However, 21% of UK motorists are unsure of how they work, or how they may be affected by their introduction. And two thirds (66%) are unaware that a CAZ is being introduced in Birmingham next week.

Only 12% know what the minimum standard for their vehicle is and just 16% know how to check if they will be charged when driving through a Clean Air Zone. While this figure rises to 20% among Birmingham drivers, it still shows incredibly low awareness considering the Birmingham CAZ launches in less than a week.

Every CAZ is different – tailored to the area and the aims it wishes to achieve. But, in principle, they split opinion. While 44% agree that high-polluting petrol and diesel vehicles should be charged for driving in densely populated areas, 33% disagree and 23% sit on the fence.

Whatever the case, a prediction can be made that the zones will do their job – 36% said they would avoid travelling by car, van or motorbike if given an additional charge, while 21% would consider selling their petrol or diesel vehicle in favour of a greener, electric vehicle. In fact, almost a quarter (22%) of UK motorists said they were very likely to buy an electric vehicle while 30% said they were somewhat likely.

Alex Buttle, Director at Motorway, says:

“Clean Air Zones are popping up all over the country. First in London with ULEZ, then a CAZ in Bath, and now Birmingham. However you feel about them, if the car you’re driving means you’ll be charged when you enter the CAZ, then selling it may be an obvious choice to save money – especially while the used car market is so strong and prices of non-compliant cars are expected to fall this year for these types of cars.

“The used car market is booming right now, due to a real lack of new cars coming to market, so car owners may want to strike while the iron is hot. Whether you go all-in on an electric vehicle or opt for a CAZ-compliant lower-emission petrol or diesel car there’s an incredible choice available whatever your price range and style.”

Amanda Stretton, motoring expert said:

“The Birmingham CAZ has been the subject of much debate over the last year, both on a national and local level. So it’s pretty shocking that only 1 in 3 drivers in Birmingham have any idea that it’s coming into force on Tuesday! Add to that the 21% of UK motorists who don’t even know what a CAZ is! Clearly more needs to be done to educate people before they get a nasty surprise when they drive into a city operating a CAZ. It’s also important to remember that these changes to driving in big cities affect everyone – for both air quality and to inform people about any future choices they may make when it comes to buying a car.”

Drivers can use this online vehicle checker from The Department for Transport to see if they will be affected by the Bath or Birmingham CAZ, or this checker to see if they will be affected by the ULEZ in London.