17 Nov 21
News

AUTO1 hits €1.3 bn turnover in Q3

Germany-based used-car specialist AUTO1 Group achieved a turnover of €1.26 billion in the third quarter of 2021, an increase of 64% year on year. In Q3 2021, the company sold more than 11,000 vehicles via Autohero, its online platform for used-vehicle sales to private customers. The company manages other online platforms, including auto1.com, wirkaufendeinauto.de, and national variations of the latter. 

Gross group profit in the past quarter amounted to €116 million – net profit has not yet been announced. In 2020, AUTO1 Group suffered losses of €143 million, in 2019: €121 million. In February, the company went public, achieving a market capitalisation of €11 billion.

Responding to its better than expected quarterly result, the company adjusted its turnover forecast for the whole year upward, from €4.5 to €4.6 billion. 

AUTO1 Group claims to be Europe’s leading digital automotive platform for buying and selling used cars online. It offers used vehicles in more than 30 countries, across more than 80 brands, and at a wide range of price points. In 2020, AUTO1 sold over 450,000 vehicles via its websites and apps.

Earlier this month, AUTO1 won the Fleet Europe Remarketing Award at the Fleet Europe Summit 2021 in Brussels (pictured).

Image: Benjamin Brolet 

 


 

Authored by: Frank Jacobs