Automotive manufacturer Stellantis invests in Africar Group to launch its services in Ivory Coast

IVORY COAST – Stellantis, a multinational automotive manufacturing corporation, has invested in the Africar Group, the first automotive marketplace in Africa, to launch Auto24 activities in Abidjan, Ivory Coast.

Auto24 is a direct-to-consumer used car company that brings solutions to help ensure transactions are conducted in a transparent and secure way.

With the African population set to reach 1.7 billion by 2030 and a car- park already at 50 million units, Stellantis has taken a stake in Africar Group to create Auto24 and take advantage of this market potential.

This investment is a new building block in the global strategy of Stellantis to develop its mobility solution portfolio and reinforce its commitment to customer-centricity. It is also an illustration of the plan Dare Forward 2030, in one of the seven accretive businesses targeted by Stellantis.

“This investment in Africar Group to create Auto24, re-enforces our strategy to grow our used vehicle business activity globally in a bold, pragmatic and agile way,” Xavier Duchemin, senior vice president of the pre-owned vehicles business unit at Stellantis, said.

“It will follow the same blueprint as per the other Stellantis investments in the used vehicle ecosystem. The founders will accelerate the development of their activities while capitalising on Stellantis yet maintaining the inventiveness, energy and agility that characterises startup companies.”

Africar Group operates the largest online automobile marketplace network in Africa, serving customers in more than 40 countries across Sub-Saharan Africa. Over the past five years, it has helped more than 25 million people purchase and sell pre-owned automobiles online.

“After more than five years of working with automotive manufacturers, distributors and other key players in the industry, we have developed a class leading, multi country digital automotive solution across Sub-Saharan Africa,” Axel PEYRIERE, co-Founder & CEO of Africar Group said.

“Auto24 is being launched today with the aim to buttress the confidence of African customers in the used vehicle market. A great challenge that will allow to have a secure, convenient, trustworthy and enjoyable buying or selling used vehicle experience.”

Stellantis aspires to sell more than one million new automobiles annually throughout the Middle East and Africa by the year 2030, making it the third Original Equipment Manufacturer (OEM) with this goal.

“In Sub-Saharan Africa, Stellantis offers the largest network coverage of the automotive industry with close to 124 points of sales and maintenance,” said Mr. Samir CHERFAN, Stellantis Middle East & Africa Chief Operating Officer.

“Today, the partnership with Africar Group through its subsidiary Auto24 will allow us to expand our offer of mobility solutions that widely meets the customer needs in Africa.”

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