Stellantis, a company that makes cars, has invested into Africar Group, a digital automotive market in Africa, to start up Auto24, a business that sells used cars in Abidjan, Ivory Coast.
Auto24 is a direct-to-consumer used car company that makes it easier and safer for people to buy and sell used cars by offering new and innovative ways to do business and making sure all transactions are clear and safe.
Africa’s population is expected to reach 1.7 billion by 2030, and there are already 50 million cars there. Stellantis wants to take advantage of this market potential and increase its share of the used car market by investing in Africar Group, a leading online automotive marketplace that has helped over 25 million people buy cars through its online channels in Africa, to create Auto24.
Stellentis says that its investment in Africar Group to create Auto24 will help it stick to its plan to grow its used vehicle business around the world in a way that is bold, practical, and quick, just like its other investments in the used car market.
Stellantis has the most extensive network coverage in Sub-Saharan Africa, with about 124 sites of sale and maintenance.
Stellantis Middle East & Africa’s Chief Operating Officer Samir CHERFAN said in a statement, “Our partnership with Africar Group, through its subsidiary Auto24, will allow us to offer more mobility solutions that meet a wide range of customer needs in Africa.”