Stellantis, Global Automaker and Mobility Provider Funds Africar Group to Establish Auto24, African Used Vehicle Startup

Auto24 is a direct-to-consumer used automobile firm that introduces new, creative technologies to ensure transactions are carried out in a transparent and secure manner.

Auto24 is an African used vehicle startup, Africar Group, and Stellantis announce the opening of Auto24 activities in Abidjan, Ivory Coast.

By 2030, there will be 1.7 billion people living in Africa, and there are already 50 million cars parked there. Stellantis has acquired a stake in Africar Group in order to launch Auto24 and tap into this market opportunity. This investment is a new pillar in Stellantis’ overall plan to expand its portfolio of mobility solutions and solidify its dedication to client centricity. Additionally, it serves as an example of the Dare Forward 2030 plan in one of Stellantis’ seven targeted accretive industries.

Auto24 is a direct-to-consumer used car company that uses innovative new technology to make sure transactions are conducted securely and openly. The launch of Auto24 operations in Abidjan, Ivory Coast, has been announced by Africar Group, Stellantis, and used car startup Auto24 in Africa.

Africa will be home to 1.7 billion people by 2030, and there are already 50 million parked cars there. To create Auto24 and seize this market potential, Stellantis purchased a stake in Africar Group. This investment forms a new pillar in Stellantis’ overall strategy to increase the number of mobility solutions it offers and to demonstrate its commitment to client-centricity. It is also an illustration of the plan Dare Forward 2030, in one of the seven accretive businesses targeted by Stellantis.

The Africar Group is the continent’s largest network of online vehicle marketplaces, operating in more than 40 Sub-Saharan African nations. During 25 million car buyers and sellers have been able to exchange used cars through its web platforms over the past five years. “After more than five years of working with vehicle manufacturers, distributors, and other important stakeholders in the sector, we have established a class-leading, multi-country digital automotive solution across Sub-Saharan Africa,” stated Axel PEYRIERE, co-Founder and CEO of Africar Group. The goal of today’s launch of Auto24 is to increase African consumers’ trust in the used car market. a significant task that will enable a safe, practical, reliable, and pleasurable used automobile buying or selling process.

“This investment in Africar Group to create Auto24, re-enforces our objective to grow our used vehicle business activity globally in a bold, pragmatic, and agile way,” says Xavier Duchemin, Senior Vice President of Stellantis’ Pre-Owned Vehicles business unit. It will proceed according to the same plan as the other Stellantis investments in the ecosystem surrounding secondhand cars. While leveraging Stellantis, the creators will quicken the growth of their initiatives while retaining the creativity, vigor, and adaptability that define start-up businesses.

Stellantis is the third OEM in the Middle East and Africa with the goal of dominating the automobile industry in the region by 2030 with over 1 million new car sales annually.

“With about 124 places of sales and maintenance, Stellantis has the automotive industry’s broadest network coverage in Sub-Saharan Africa. According to Mr. Samir CHERFAN, Chief Operating Officer of Stellantis Middle East & Africa, “Today’s agreement with Africar Group through its subsidiary Auto24 will allow us to expand our range of mobility solutions that broadly fits the consumer needs in Africa.