Volvo invests in carwow to improve online sales

Volvo it is not only investing to become an electric brand by 2030. As we know, the automaker intends to change its sales strategy focusing more and more on online and on the direct relationship with customers and this includes the fact of “create a simple and smooth shopping experience for products and services, characterized by transparent prices and information on products, as well as clarity on delivery times through the online store on the website“.

With the aim of improving the online shopping experience, the automaker through its venture capital arm Volvo Cars Tech Fund has decided to make a strategic investment in carwowone of the leading online marketplaces for buying and selling cars.

It’s about a platform for the purchase of new cars and assistance to consumers in the online sale of their car which has undergone considerable development in recent years and is now one of the market leaders in the UK, Germany and Spain for online sales of new cars.

Through this investment, Volvo intends to gain valuable insights in areas such as online sales, customer acquisition and content creation, which will help facilitate the automaker’s transition to online and direct customer relationships.

In fact, Volvo and carwow were already working together. Specifically, the partnership includes partnerships for Volvo’s subscription service, as well as driving traffic and sales to Volvo and its retail partners. The investment just announced must also be seen as an extension of this partnership. Financial details of the investment were not disclosed. Lex KerssemakersVolvo’s chief commercial officer commented:

Third party marketplaces play a vital role in any consumer goods sector, which includes Volvo Cars’ competitive environment. We were one of the first automakers to commit to moving to online sales and, through this strategic partnership, we will learn to understand the dynamics of online shopping behavior. Our collaboration with carwow will help us and our retail partners to increase volumes and allow us to reach the goal we have set ourselves, which is to sell about half of our total volumes online by 2025.

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