Carzam made more than $20.5 million in sales in just eight weeks since it started selling used cars only through the web.
Since December, more than 1,600 cars have been sold at Carzam.co.uk as more and more people prefer to buy things online.
In its first year, the company expects to sell 20,000 vehicles and earn £250 million.
The company’s over 100-person workforce is likely to grow in the following months.
Auto investor John Bailey, formerly president of Cox Automotive, and used automobile dealer Peter Waddell, CEO of Big Motoring World, co-founded Carzam.
They gathered a team of industry specialists and over 1,000 stock vehicles to start the business. As a result, they’ve kept up with demand by increasing stock volume.
A better way to buy a car is already changing the business, says Peter Waddell. Carzam puts the consumer first. No ‘sell’ – the customer is the salesperson. They are in charge.
That’s how people buy now. There’s no reason why the automobile business can’t keep up with internet retail.
It is build to value the customer and is transparent and efficient.
What could be easier than shopping from home and having your automobile delivered the next day? It’s as easy as shopping on Amazon.
“Online sales will take a larger share of the annual 8 million used car transactions in the UK. In six weeks, we sold 1,000 automobiles. We intend to scale up the firm and grow our market share quickly.”
Carzam Users Now Browse 360-Degree Trips
Carzam users can browse a growing inventory of 360-degree excursions. From the company’s Peterborough preparation centre, each automobile is safely examined and prepared to high standards. Carzam’s website also allows for financing and part-exchange. Contact-free delivery is possible within 24 hours. If unsatisfied, customers can return the car within two weeks.
Carzam customers have spent an average of £12,800 on their automobiles, with an average age of 3.6 years. The fastest delivery time was 22 hours after placing the order. So far, 97% of clients have kept their autos for two weeks.
Carzam’s CFO Michael Buxton Said:
“Carzam was founded in response to changing buyer expectations. We have developed a business model that addresses market inefficiencies to remain price competitive.
“Consumers have been shifting to online outlets for some time. Unfortunately, the Covid-19 epidemic exacerbated rather than caused this predicament.
“With dealerships closed, new automobile sales slumped 40% year-on-year in January. However, the value and convenience of buying a secondhand car online have captivated consumers.
“Only clever buying can provide an attractive price. So, Carzam has built data-driven systems that decide the price we will pay for any car.
“The Carzam team has the contacts to obtain cars that meet our customers’ specifications at competitive prices. As we grow, we will need to add more cars to our inventory.“
Talking About Interested Funding Investors:
Carzam is now in talks with potential investors for its next round of funding. Carzam will attempt to grow its customer contact centre workforce and handle cars as they arrive.
A crew of mechanics and finishers is expanding their use at the Peterborough car preparation centre. Each vehicle is thoroughly explore. Any automobile with less than eight months left on its current MOT gets a new one.
Two new preparation centres are proposed for England, one in the north and one in the south. Once work begins later this year, the first new location will open in early 2022, once work starts later this year. It might increase Carzam’s employee count to above 500. Click and collect automobiles are available in Corby, Northamptonshire, and Stratford, East London.
“Peter Waddell” Officially Declared:
“Consumers trust online purchases from reputable merchants. Carzam has quickly become a reliable source for used automobiles.
“Our customer-centric strategy is competitive, profitable, scalable, and represents the future of the UK used car business.
“To capitalize on this early success, we will continue to enhance the model with client feedback, creating additional jobs for the industry our entire team loves.“