Autoquake Revenue and Competitors

Autoquake.com is a UK-based e-commerce company selling used cars direct from fleets to consumers, cutting out the traditionally high-margin car dealers. Autquake was founded in 2005 in reaction against the lack of transparency and dismal customer experience that is expected in the used car industry. The company is backed by two leading venture capital firms: Accel Partners and Highland Capital Partners. By sourcing cars direct from leasing and fleet companies, Autoquake.com effectively cuts out the middleman, disintermediating the high costs, high margins car dealers and offering consumers average savings of 10% compared to traditional car supermarkets. At the same time, fleets get better return on their assets. On Autoquake.com, each car available for sale is described extensively on the website, with 40 high quality pictures and scans of any relevant documents (MOT, V%, log books, etc.). Cars are thoroughly described, and if a car has any cosmetic damage, it will be emphasized through the "condition viewer". Combined with a 7-day money back guarantee, this makes online buying a safe and convenient option for used cars and allows one sale in three to be delivered unseen. Since June 2009, it is also possible for customers to pre-order cars that are due to come off-fleet in the next few weeks, enabling even greater savings for the consumers and greater flexibility for the fleet companies.