Volvo Cars takes minority stake in carwow
09 May 2022|249 views
Volvo Cars has announced that it now has a strategic minority stake in the online automotive marketplace carwow, through Volvo Cars Tech Fund, Volvo Car's venture capital arm.
Volvo states the investment will allow it to gain valuable insights in areas including online sales, customer acquisition and content creation, which will be crucial as the it has recently announced plans to shift its sales onto an online model. Volvo is expecting up to 50% of its sales to be done online as soon as 2025.
The two firms also intend to embark on collaborations in the future that could see the development of a subscription service and new efforts to drive sales to Volvo Cars and its retail partners.
Carwow is said to have experienced considerable growth in recent years and is now one of the market leaders in the U.K., Germany, and Spain for online sales of new cars.
Volvo states the investment will allow it to gain valuable insights in areas including online sales, customer acquisition and content creation, which will be crucial as the it has recently announced plans to shift its sales onto an online model. Volvo is expecting up to 50% of its sales to be done online as soon as 2025.
The two firms also intend to embark on collaborations in the future that could see the development of a subscription service and new efforts to drive sales to Volvo Cars and its retail partners.
Carwow is said to have experienced considerable growth in recent years and is now one of the market leaders in the U.K., Germany, and Spain for online sales of new cars.
Volvo Cars has announced that it now has a strategic minority stake in the online automotive marketplace carwow, through Volvo Cars Tech Fund, Volvo Car's venture capital arm.
Volvo states the investment will allow it to gain valuable insights in areas including online sales, customer acquisition and content creation, which will be crucial as the it has recently announced plans to shift its sales onto an online model. Volvo is expecting up to 50% of its sales to be done online as soon as 2025.
The two firms also intend to embark on collaborations in the future that could see the development of a subscription service and new efforts to drive sales to Volvo Cars and its retail partners.
Carwow is said to have experienced considerable growth in recent years and is now one of the market leaders in the U.K., Germany, and Spain for online sales of new cars.
Volvo states the investment will allow it to gain valuable insights in areas including online sales, customer acquisition and content creation, which will be crucial as the it has recently announced plans to shift its sales onto an online model. Volvo is expecting up to 50% of its sales to be done online as soon as 2025.
The two firms also intend to embark on collaborations in the future that could see the development of a subscription service and new efforts to drive sales to Volvo Cars and its retail partners.
Carwow is said to have experienced considerable growth in recent years and is now one of the market leaders in the U.K., Germany, and Spain for online sales of new cars.
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