Press Release

December 3, 2020

Online used-car platform heycar expands to Spain

Third market after Germany and the United Kingdom

SEAT holds stake in new heycar company in Spain

Goal: One or two new markets every year

Berlin, Braunschweig, Barcelona, 3 December 2020. The online used-car platform heycar is expanding into the Spanish market, where prospective buyers can now find used vehicles with warranties under After taking on Germany and the United Kingdom, heycar has now set itself the further goal of attacking established competitors in the used-car market in Spain. The heycar brand is operating in Spain under the umbrella of Mobility Trader Spain S.L., a company in which the heycar Group (Mobility Trader Holding GmbH) holds 75.1 percent of the shares and SEAT S.A. holds 24.9 percent. The shareholders of the heycar Group are Volkswagen Financial Services AG, Volkswagen AG and Daimler Mobility AG.

"The Spanish market is an important step in our internationalization. We are particularly pleased that with SEAT as a partner we have gained a brand with firm local roots and therefore a high level of market expertise for our Spanish company," says Florian Schlieper, CEO of the heycar Group. He continues: "In the coming years, we want to establish ourselves in Europe as the leading platform for used vehicles in the quality segment and further develop automobile sales by acting as a strong partner for dealers, manufacturers and captives. Our clear objective is to open up one or two new markets every year with heycar."

heycar is starting up in Spain with the goal of improving transparency and trust in the used-car market. Vehicles from all major automobile brands are offered on the online platform through partnerships with quality dealers. As in Germany, all vehicles come with a warranty, are younger than eight years old and have less than 150,000 kilometers on the clock.

"We are very pleased that we are now also launching heycar in Spain. Our market analysis has shown that this is exactly the right place to introduce a digital used-car platform that offers high-quality vehicles with a warranty," says Fedor Artiles, CEO of heycar Spain. He adds: "We are entering the Spanish market to change the status quo here by creating a more transparent, clearer and better used-car market for both dealers and customers with a digital multi-brand platform."

heycar started up in Germany in October 2017 and in the United Kingdom in August 2019. Today, the portal has more than 300,000 used cars on offer in Germany and more than 130,000 in the UK.

Information for editors:

The heycar Group (Mobility Trader Holding GmbH) brings all heycar national subsidiaries together under the roof of one parent company. Its shareholders are Volkswagen Financial Services AG, Volkswagen AG and Daimler Mobility AG. heycar is the fastest-growing platform for quality used cars in the European automobile sector. Since 2017, heycar has been offering its customers a user-friendly and ad-free online platform for inspected and approved used vehicles of all categories and from all well-known brands. The services are deeply integrated into the financing solutions offered by the partners. heycar's goal is to revolutionize the way people buy and experience cars. heycar is data-driven and always puts its customers at the center of its activities. The company is active in Germany, the UK and Spain and is driving its expansion into new markets. Altogether, heycar employs more than 250 people. heycar is headquartered in Berlin, the CEO of the heycar Group is Florian Schlieper and its CFO is André Warmuth.

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,571 employees worldwide – including 7,414 alone in Germany. Volkswagen Financial Services report total assets of around EUR 223.5 billion, an operating result of EUR 2.96 billion and a portfolio of around 21.5 million current contracts (as at: 31.12.2019).

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