Clare White, marketing Manager at Network Q, said that the PSA Group-owned manufacturer expected that offering online motor finance would drive higher unit sales for dealers as well as increasing penetration of Vauxhall Finance products.
Last month, Oxbotica announced a 14 million pound ($18.3 million) investment round led by AXA SA, the insurance group, IP Group, and Parkwalk Advisors, which backs companies that are spun-out of universities.
The company, which allows private cars to be rented via online and mobile interfaces, announced its U.K. launch on Monday. Currently, Turo has over eight million users throughout 5,500 cities in 56 countries, one-third of that eight million having joined in 2018 alone.
Daimler will ensure a capital increase for heycar and in return will acquire a 20% stake in Mobility Trader Holding GmbH, which operates the heycar platform in Germany via its subsidiary, Mobility Trader GmbH.