According to the CEO and Founder of automotive portal CarGurus.com Langley Steinert, his new venture will soon be number one in the online car retail industry.
In the last 12 months the company experienced an 11-fold increase in visitors - from 100,000 to 1.1M.
In an interview with AM Online Steinert said that "profitability isn't an issue" and CarGurus will continue to go from strength to strength.
"Thanks to the fact that we are a private company we don’t have to worry so much about revenue and profitability,” he said.
“Over 15 years operating in the US we are the clear market leader and we can really afford to fund our UK push through that and, because we’re not a public company, we don’t have shareholders breathing down our necks.”
“Our aim is to bring the principals of transparency that were the hallmarks of TripAdvisor to the UK automotive sector and to become the market leader here, as we are in the US.”
Steinert said that CarGurus would bring “transparency” to the UK car retail market, both for dealers and consumers.