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Volkswagen’s Heycar sell 20 percent stake to rival Daimler

Updated September 18, 2018

Heycar, a platform for used cars which was started by Volkswagen last year has sold 20 percent of its stake to the auto giant Daimler,  Volkswagen said in a statement on 13th Sept 2018

Neither of the two companies has made the purchase public and Daimler is buying shares of the company through a capital increase at Mobility Trader Holding company, the operating company of Heycar in Germany through a subsidiary.

This move was initiated by the company so that it could compete with used car platform in Germany. Mobile.de and Autoscout.24 are the market leader in this segment.

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Jacob Doyle
About Jacob Doyle

I am a Chicago-born writer with a thirst for everything automotive. I live by a simple rule; travel far, work hard and never stop writing. If I am not writing away, you can find me wrenching on my 1989 Ram Charger or wrecking something with wheels.

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