AutoWeb, Inc. expanded its CarZeus vehicle acquisition business into the Houston, Texas market. The expansion comes three months after the company's expansion into the Austin community and marks its third major market presence for AutoWeb's vehicle acquisition operations in the state. In addition to impacting new vehicle production and inventory, COVID-19 has changed many consumer preferences, with a growing trend of unbundling vehicle trade-ins from the car shopping process.

This structural change in the industry aligns well with AutoWeb's growing vehicle acquisition business, which offers sellers a customer-centric service that caters to these evolving behaviors while serving the needs of retail dealers. The company's vehicle acquisition business purchases vehicles directly from consumers and resells them through wholesale channels to deliver improved value to both dealers and consumers. AutoWeb's expansion of this offering into Houston brings consumers in this community a new option to dispose of their current vehicles and enables AutoWeb to serve more consumers seeking to do so on their terms. With a focus on delivering an exceptional customer experience, the service enables consumers to engage with CarZeus via text or their preferred communication method, schedule an appointment time that accommodates their schedule and receive same-day payment—providing a check for their vehicle on the spot.

AutoWeb acquired the assets of CarZeus, a used vehicle acquisition platform, effective August 1, 2021. Since the acquisition, the company has focused on improving operational efficiency and effectiveness, and expanded beyond CarZeus' original San Antonio market and into Austin in late November 2021. The company is currently servicing the Austin and Houston markets remotely from the company's San Antonio location pending the addition of physical locations in those markets.