Carwow is selling its operation in Germany to mobile.de for an undisclosed sum. The deal is subject to regulatory approvals.
The deal will allow Carwow to focus its resources on the UK and Spain while allowing mobile,de to se its considerable local resources to expand the business.
In a joint statement the two entities said the deal is “intended to support greater investment in the German market, accelerate innovation and create broader, more effective opportunities for dealers and OEM partners across new-car, leasing and used-car sourcing.”
The latest accounts for Carwow see the company making losses of £20.1m on turnover of £85.1m for 2024.
The UK accounted for £64.7m turnover and Spain and Germany generated £20.4m. The Germany YouTube subscriber list almost doubled that year from 105,000 to 202,000.
Carwow.de will retain its brand, team, leadership and distinct business model, with Philipp Sayler von Amende continuing to lead Carwow GmBH. Existing dealer, OEM and additional business relationships will remain unaffected, and Carwow.de’s auction product will continue to serve dealers sourcing used vehicles from consumers across Germany.
Until regulatory clearance is received, mobile.de and Carwow Germany will operate on a fully standalone basis, with no operational integration. Upon closing, Carwow.de will receive a perpetual licence to use the Carwow brand rights in Germany.
John Veichmanis, CEO, Carwow Group: “This partnership marks a significant milestone for our business.
“We are incredibly proud of what we have built in Germany since launching 10 years ago and are pleased to have found the right partner in mobile.de that will steward the brand in Germany. This shift allows us to sharpen our focus as we continue to innovate and accelerate our growth in the UK and Spain.”
Ajay Bhatia, CEO, mobile.de, said: “Carwow has built something genuinely impressive in Germany — helping dealers and OEMs sell new cars through a transaction-focused customer journey that goes well beyond traditional listings.
“Its strong focus on leasing, combined with its expertise in new-car search, configuration and Build-to-Order journeys, is exactly the kind of capability we want to invest in. We are committed to supporting Carwow.de in continuing to do what it does well, with the full support of mobile.de behind it.”
