AUTO1 Group expands its inhouse Merchant Financing solution to Belgium and the Netherlands
- AUTO1 Financing is now available to partner dealers in Belgium and the Netherlands after the remarkable success in Germany, France, Spain, and Austria.
- Increased availability is driving further growth and profitability for AUTO1 Group.
Berlin, October 31, 2024 – AUTO1 Group SE, Europe's leading digital automotive platform for buying and selling used cars, today announced the expansion of AUTO1 Financing to Belgium and the Netherlands. The group’s innovative inventory financing solution empowers partner dealers to grow their business by enabling them to purchase from AUTO1.com, Europe’s largest wholesale platform for used cars, without their own equity.
Revolutionizing the digital car buying experience
AUTO1 Financing seamlessly integrates into the AUTO1.com platform, allowing dealers to add financing to their vehicle purchases with a single click and receive instant approval. This makes it the most convenient and transparent solution on the market, significantly enhancing the digital customer journey for merchants. Dealers benefit from faster access to vehicles and documentation compared to traditional external floorplan financing methods since delivery is initiated instantly without waiting for the payment.
By providing a seamless and efficient financing solution, AUTO1 Group is poised to increase sales and strengthen dealer loyalty. \"AUTO1 Financing represents a highly attractive business opportunity for us and will be a significant driver of future revenue and profit growth for us\" said Markus Boser, CFO of AUTO1 Group. \"I am proud of our team for successfully launching AUTO1 Financing in two additional markets and enabling more partners to purchase more cars from us, increase their profits and organically grow together with us.\"
Christian Bertermann, CEO & Co-Founder of AUTO1 Group, added: “With over 1,700 partner dealers in Q2 already utilizing our AUTO1 Financing service across markets, we are excited to enhance our commitment to Dutch and Belgian partners by offering them even more speed and convenience with our digital financing solution.”[1]
Initially launched in Germany in the fourth quarter of 2023, AUTO1 Group’s Merchant Financing solution is currently available in France, Austria, Spain and now in Belgium and the Netherlands. AUTO1 Group is set to continue the rapid expansion of AUTO1 Financing throughout Europe and make it available to more markets and partners.
About AUTO1 Group
Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a used car. AUTO1 Group is operating in over 30 countries and generated a revenue of EUR 5.5 billion in 2023. Following its successful IPO in February 2021, the group's shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884.
For more information please visit www.auto1-group.com
Investor Relations contact
Philip Reicherstorfer
Group Treasurer
Phone: +49 (0)30 - 2016 38 213
Email: ir@auto1-group.com
Media Relations contact
Christine Preyer
Director Communications & PR
Phone: +49 (0)175 64 59 192
Email: press@auto1-group.com
[1]Pending CB sign off