Carwow increased group revenue by 22% to a record £104.2 million in 2025, although continued investment in its technology and products contributed to a £7.6m adjusted EBITDA loss.
Revenue for the yr ended 31 December rose from £85.1m in 2024 as more consumers used the net marketplace to research, buy, lease and sell vehicles.
Marketplace income generated by the Get Your Automotive and Sell My Automotive operations increased by 26% to £74.3m, making it the principal driver of group growth.
The business operated across the UK, Germany and Spain in the course of the yr, with the UK remaining its largest market and the major focus for further platform development.
Marketplace income rises 26%
Carwow said it expanded its UK used automotive proposition during 2025 and added more leasing options to its consumer marketplace.
It also introduced Carwow Wallet and Carwow Collects 2.0, while investing in latest dealer and manufacturer tools. Development work included artificial intelligence applications intended to enhance the accuracy and efficiency of distant vehicle appraisals.
The corporate’s content operations generated 2.2 billion views across its markets in the course of the yr. Its UK YouTube channel reached 10.8 million subscribers.
John Veichmanis, chief executive of Carwow Group, said: “Breaking through £100m is an enormous milestone for Carwow. Our business is flying; more individuals are coming to Carwow not only to research their next automotive, but to sell the one they’ve, compare their options and get their next one, whether meaning buying latest or used, financing or leasing.
“The automotive market has never offered drivers more selection, but more selection can even mean more complexity. Recent brands are arriving at pace, reasonably priced electric cars are changing consumers’ practical lifestyle and financial considerations, and the old ways of shopping for and selling cars are being disrupted. That plays on to what Carwow does best: giving people the boldness to make certainly one of their biggest purchasing decisions.
“We’ve spent years constructing an audience that loves cars and a marketplace that truly helps people change them. Bringing those two things together is what makes Carwow different, and the UK is where we’re pushing that model furthest.”
Investment keeps EBITDA negative
Despite the revenue growth, Carwow remained loss-making on an adjusted EBITDA basis, reporting a £7.6m deficit for 2025.
The corporate attributed the result to continued spending on technology and product development because it expanded its used automotive, leasing and appraisal capabilities.
Carwow’s adjusted EBITDA measure excludes its non-cash share-based payment charge and costs related to its enterprise debt loan.
The corporate said it could now use the UK market to proceed developing its platform for consumers, dealers and vehicle manufacturers.
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