| Auto24, a subsidiary of African Group, has started its operations in Ivory Coast. Africar Group is a class—leading digital automotive marketplace operating in several countries in sub-Saharan Africa. Stellantis’ investments are aimed at accelerating its used car sales business in the dynamically developing African market. Auto24 is a faster and safer way to buy and sell used cars in Africa. African Group and Stellantis announce the launch of Auto24 in Abidjan, Ivory Coast. Auto24 is a company working directly with consumers of used cars, which offers new innovative solutions that ensure transparency and security of transactions.
With Africa’s population reaching 1.7 billion by 2030 and a fleet of cars already totaling 50 million units, Stellantis acquired a stake in the African Group to create Auto24 and take advantage of this market potential. This investment is a new element of Stellantis’ global strategy. Xavier Duchemin, senior vice president of the used car business unit at Stellantis, states: “This investment in the African Group to create Auto24 reinforces our strategy to expand our used car business worldwide in a bold, pragmatic and flexible way. It will follow the same plan as Stellantis’ other investments in the used car ecosystem. The founders will accelerate the development of their activities, benefiting from Stellantis, while maintaining the ingenuity, energy and flexibility that characterize start-up companies.” |
Stellantis invests in African Group to create Auto24, an African used car startup
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