Stellantis has invested in Africar Group to create Auto24, a start-up dedicated to the trade of used vehicles, which begins its activities in Côte d’Ivoire in September.
Africar Group and Stellantis announce the launch of Auto24 activities in Abidjan, Ivory Coast. Auto24 is a company selling used cars to individuals that provides innovative solutions guaranteeing the transparency and security of transactions.
With an African population expected to reach 1.7 billion by 2030 and a car fleet estimated at 50 million units, Stellantis has taken a stake in Africar Group to create Auto24 and capitalize on the potential of this market.
This investment is a new cornerstone in Stellantis’ overall strategy to develop its portfolio of mobility solutions and optimize the customer experience. It is also a concrete illustration of the application of Dare Forward 2030, in one of the 7 growth businesses targeted by the plan.
Operating in more than 40 countries in sub-Saharan Africa, Africar Group is the African leader in automotive advertisements on the Internet. Over the past five years, Africar Group has enabled over 25 million used car buyers and sellers to complete transactions.
Axel PEYRIERE, co-founder and CEO of Africar Group, said: “After more than five years of collaboration with car manufacturers, distributors and other key players in the industry, we have developed a leading digital solution operational in all of sub-Saharan Africa. Auto24 is launched today to boost the confidence of African customers in the used vehicle market.
A great challenge that will allow you to have a safe, practical, reliable and pleasant experience of buying or selling used vehicles. »
Xavier Duchemin, SVP Business Unit UV at Stellantis said: “This investment in Africar Group to create Auto24 reinforces our strategy to grow the used vehicle business on a global scale, in a bold, pragmatic and agile way. This new entity will follow the same pattern as Stellantis’ other investments in the used vehicle ecosystem. Indeed, the founders will be able to accelerate the development of their activity, relying on Stellantis while maintaining the inventiveness, energy and agility characterizing start-ups”
In Africa and the Middle East, Stellantis is currently the third car manufacturer that aims to become the market share leader, with more than one million new vehicles sold per year by 2030.
“In sub-Saharan Africa, Stellantis offers the largest network coverage in the automotive industry with nearly 124 sales and service points. Today, the partnership with Africar Group and the launch of its subsidiary Auto24 will allow us to expand our offer of mobility solutions that meet the needs of our customers in Africa,” said Mr. Samir CHERFAN, Stellantis Middle East and Africa Chief. Operating Officer.