Reverse new car auction platform AutoeBid is being relaunched with new features as it comes under new ownership.

Its new owners Acorn Money have launched ‘help me choose’ to assist drivers find their perfect vehicle and says it has invested heavily in user content.

Other new features will be unveiled at The London Motor Show in May.

AutoeBid was established 13 years ago and has helped customers successfully purchase more than £230 million worth of new vehicles at discount prices.

Acorn Money also owns the MotorPocket brand.

MotorPocket is a customer-focussed platform that helps clients secure vehicle finance and insurance.

Acorn Money chief executive Chris Greener said: “It is a very exciting time for the company and its customers with lots of exciting developments set to revolutionise the motor industry."

“As well as the ‘help me choose’ tool and our upcoming appearance at the London Motor Show, we have a number of exciting plans to transform the AutoeBid service while retaining our commitment to offering our clients the best possible price on a new vehicle.

“We will be hosting the latest motoring news content, reviews and videos so our clients can keep up-to-date with all the developments in the motoring industry and help them make their choice when it comes to upgrading their vehicle.”