Stellantis invests in African Group to build Auto24, an African used car startup

Stellantis invests in African Group to build Auto24, an African used car startup

Auto24, a new subsidiary of the African Group, launches in Côte d’Ivoire and is a faster and safer way to buy and sell used cars in Africa.

ABIDJAN, ABIDJAN, IVOIR COTE, September 14, 2022 /EINPresswire.com/ — African group as well as stellantis announce the launch Auto24 events in Abidjan, Ivory Coast. Auto24 is a direct-to-consumer used car company that delivers innovative new solutions to ensure transparency and security in transactions.

With Africa’s population expected to reach 1.7 billion by 2030 and a fleet of 50 million vehicles, Stellaantis has acquired a stake in the African Group to create Auto24 and capitalize on this market potential. This investment is a new element of Stellantis’ global strategy to grow its portfolio of mobility solutions and strengthen its commitment to customer centricity. It is also an illustration of the Dare Forward 2030 plan in one of the seven high-growth businesses targeted by Stellantis.

Operating in over 40 countries in sub-Saharan Africa, the Africa Group is Africa’s leading network of online automotive marketplaces. Over the past five years, it has allowed over 25 million car buyers and sellers to trade used cars through its online channels. Axel PEYRIER, co-founder and CEO of Africar Group, said: “After more than five years of working with car manufacturers, distributors and other key players in the industry, we have developed a class-leading multi-country digital automotive solution in sub-Saharan Africa. Africa. Auto24 is launching today to build African customer confidence in the used car market. A great challenge that will allow you to have a safe, convenient, reliable and enjoyable experience of buying or selling used cars.”

Xavier Duchemin, Senior Vice President, Used Car Business at Stellantis, states: “This investment in African Group to create Auto24 reinforces our strategy to expand our used car business globally in a bold, pragmatic and flexible way. It will follow the same roadmap as other Stellantis investments in the used car ecosystem. The Founders will accelerate their growth by capitalizing on Stellantis while retaining the ingenuity, energy and agility that characterize start-up companies.”

In the Middle East and Africa, Stellantis is the third OEM aiming to become the region’s leading automotive group with over 1 million new vehicles sold annually by 2030.

“In sub-Saharan Africa, Stellantis offers the largest automotive industry network with nearly 124 sales and service locations. Today, partnering with the African Group through its subsidiary Auto24 will enable us to expand our offering of mobility solutions that broadly meet the needs of customers in Africa.” said Mr. Samir CHERFAN, COO of Stellantis for the Middle East and Africa.

Deborah Cutuan
AUTO24.Africa
[email protected]
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