Stellantis invest in Africar Group to create Auto24, African used vehicle start-up

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Auto24, new subsidiary of Africar Group, launches its
activities in Ivory Coast
• Africar Group is a class leading and multi country digital
automotive marketplace across Sub-Saharan Africa
• Stellantis investment aims at accelerating its used vehicle
(UV) business on the buoyant African UV market
• Auto24 is a faster and safer way to buy and sell used vehicles
in Africa
September 12, 2022, Africar Group and Stellantis announce the launch of
Auto24 activities in Abidjan, Ivory Coast. Auto24 is a direct to consumer
used car company that brings new, innovative solutions ensuring
transactions are conducted in a transparent and secure way.
With the African population set to reach 1.7 billion by 2030 and a carpark already at 50 million units1
, Stellantis has taken a stake in Africar
Group to create Auto24 and take advantage of this market potential.
This investment is a new building block in the global strategy of
Stellantis to develop its mobility solution portfolio and reinforce its
commitment to customer centricity. It is also an illustration of the plan
Dare Forward 2030, in one of the seven accretive businesses targeted
by Stellantis.
Operating in more than 40 countries in Sub-Saharan Africa, Africar
Group is Africa’s leading online automotive marketplace network. During
the last five years, it has enabled over 25 million car buyers and sellers to
1 Extrapoled from OICA report :
– 2 –
trade used cars through its online channels.Axel PEYRIERE, co-Founder
& CEO of Africar Group said, “After more than five years of working with
automotive manufacturers, distributors and other key players in the
industry, we have developed a class leading, multi country digital
automotive solution across Sub-Saharan Africa. Auto24 is being
launched today with the aim to buttress the confidence of African
customers in the used vehicle market. A great challenge that will allow
to have a secure, convenient, trustworthy and enjoyable buying or
selling used vehicle experience.”
Xavier Duchemin, Senior Vice President of the Pre-Owned Vehicles
business unit at Stellantis declares: “This investment in Africar Group to
create Auto24, re-enforces our strategy to grow our used vehicle
business activity globally in a bold, pragmatic and agile way. It will follow
the same blueprint as per the other Stellantis investments in the used
vehicle ecosystem. The founders will accelerate the development of their
activities while capitalizing on Stellantis yet maintaining
the inventiveness, energy and agility that characterizes start-up
In Middle East and Africa, Stellantis is the third OEM aiming to become
the leading automotive group in the region with over 1 million new
vehicles sold per year by 2030.
“In Sub-Saharan Africa, Stellantis offers the largest network coverage of
the automotive industry with close to 124 points of sales and
maintenance. Today, the partnership with Africar Group through its
subsidiary Auto24 will allow us to expand our offer of mobility solutions
that widely meets the customer needs in Africa.” said Mr. Samir
CHERFAN, Stellantis Middle East & Africa Chief Operating Officer.



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