19 Aug 19

Solid growth for CarNext.com in Q2

Solid growth for used-car platform CarNext.com – that’s the major highlight of its parent company LeasePlan’s results for 2019’s second quarter. The used-car platform’s B2C volume was up 35% to 15,700 vehicles, while the number of Delivery Stores grew to 37 in 22 countries. Retail sales were up 56%.

LeasePlan’s Car-as-a-Service (CaaS) business also grew – the serviced fleet was up 2.8% and gross profit for the underlying lease and additional services was also up, by 0.9%. 

The counterpoint to that good news was the fact that both LeasePlan’s net result and underlying net result were down on the quarter (to €32 and €141 million, respectively). 

Two major factors help explain those negative figures: a €14 million cost increase, largely related to increased investment in CarNext.com; and a strategic decision to stop developing the Core Leasing System, in favour of a Next-Generation Digital Architecture (price tag: €92 million). 

LeasePlan will continue to invest in CarNext.com to accelerate its growth and aims to operate it as a separate business unit within the group.

Authored by: Frank Jacobs