Carmony was founded in 2008 and quickly established itself as one of the UK’s leading used car dealers on the web.
The company is owned by Manheim Europe, which is the same company that also owns Motors.co.uk. On the website http://www.carmony.co.uk, people can find a huge range of used and nearly-new cars to choose from, but the used car market is a highly competitive market and more and more websites now offer a “used car for sale” section, which is why Carmony has decided to reinvent itself with a huge rebrand.
When the company was founded in 2008, its main focus was to sell a huge variety of used cars for pretty much every budget but as time went on, more and more websites were offering the same thing. Auto Traders for instance is another major digital car trader and they target every man and their dog.
Even sites that do not specialise primarily in cars but in second hand sales often have a car section. One prime example of this is Gumtree. This website was created in 2000 for people coming to London from Australia, New Zealand and South Africa, who were looking for a place to stay or second hand furniture. Now Gumtree has about 8 million visitors every month and it’s become a very popular site for second hand items, including cars. It is thus easy to see that it is getting harder to distinguish oneself in such an overrun market.
That’s why Carmony will soon shift the focal point from budget used cars to more prestigious used cars including Audi and Lexus. They want to move away from their bargain-image and establish themselves as a serious contender in the premium car market. The target market will be all those people out there who are looking to buy a car in the price range of £25,000 and up. There are not many traders out there yet who have made use of this niche and many that do operate on a very local scale. By using this niche, Carmony are getting their foot in the door early and they stand a good chance of benefiting from their first mover advantage.
Rather than drowning in the ever-growing competition, Carmony are taking the necessary steps to reinvent themselves and prevail in the fierce used car market. Their rebrand comes at a great time and it’s a great opportunity for the company to secure a big part of a niche market.