AutoWeb continues to expand used-car acquisition platform
AutoWeb has taken its CarZeus vehicle acquisition business to a third market: Houston.
CarZeus buys cars directly from consumers and resells them in the wholesale market.
AutoWeb purchased CarZeus from founder Phil Kandera and McCombs Family Partners in August.
The platform’s first market was San Antonio. In November, AutoWeb expanded CarZeus to Austin, Texas. It is serving the Austin and Houston markets remotely at the San Antonio location until physical locations are added in those cities.
“AutoWeb’s approach of leveraging our consumer audience for vehicle acquisition has had a consequential impact on the unit economics of the business in the markets where we offer this service, which is why we are excited to push ahead with another market for our vehicle acquisition business in Texas,” AutoWeb president and chief executive officer Jared Rowe said in a news release.
“This expansion not only allows us to cater to the needs of consumers in another important community for CarZeus, but it also reflects what we believe is our highly efficient and scalable ability to engage and curate an audience of those intent on selling their vehicles,” Rowe said.
He later added: "It appears that consumers are increasingly drawn to our approach of vehicle acquisition.
“In addition to connecting with them using their individual engagement preferences, we focus on the transaction at hand instead of trying to sell them another car — and this shared goal ultimately enables us to better serve them,” Rowe said. “We believe that this audience appreciates the streamlined process CarZeus provides, with the ability to leave an appointment with money in hand.”