CarsOnTheWeb | Company background
CarsOnTheWeb is an online auction website for the car trade. The company sells end-of-life leasing vehicles, commercial vehicles and stock cars from leasing companies, car traders, fleet owners and car rental companies to professional car dealers across Europe, with most sales done to Central and Eastern Europe. This qualifies CarsOnTheWeb as an operator in the vehicle remarketing market. The selection of used vehicles includes passenger cars, vans and light trucks, damaged cars and wrecks of all makes and models. On average, vehicles are 3 to 5 years old and have 100,000 to 160,000 km under their belts. 25% are more recent vehicles.
CarsOnTheWeb organized its first online auctions in Belgium in December 2004. Since then the company has opened offices in Germany, France, Italy and The Netherlands and has known a steady growth in terms of volumes and profitability. Today, with 140 employees, sales of 42.000 units per year and a customer base of more than 40,000 registered buyers in approximately 50 countries, CarsOnTheWeb has become one of the leading online car auctions in Europe.
Position in remarketing chain
The basic proposition of CarsOnTheWeb is to bypass the multiple layers of middlemen typically found in the used vehicle remarketing industry, and to minimize the distance between buyers and sellers. Less middleman margins result in a lower purchase price for buyers and a higher selling price for sellers.
CarsOnTheWeb has a unique business model that differentiates it from other vehicle remarketing parties. Unlike traditional platforms where buyers and sellers meet, CarsOnTheWeb acts as a party in between buyers and sellers. CarsOnTheWeb gathers market prices via an auction system, transfers the highest bids to the sellers, who then decide. As soon as the sale is closed, CarsOnTheWeb proceeds in buying the vehicle from the seller, and in selling the vehicle to its buyer. To name a few of the advantages of our approach:
• 1 partner to deal with, 1 platform, 1 way-of-working, 1 process and 1 pricing model
• Complete administrative settlement and smooth cross-border delivery
• Customer service online via MyCOTW and by phone via skilled customer service team (own language)Images Press Kit