African Team Took Investment From Stellantis To Launch The Vehicle Company

African Group

In Ivory Coast, the new Africar Group subsidiary Auto24 begins operations. In Africa, using Auto24 to purchase and sell used cars is quicker and safer. With this investment, Stellantis hopes to expand its used vehicles (UV) business in Africa.

Stellantis

By 2030, there will be 1.7 billion people living in Africa, and there are now 50 million cars in the continent's parking lots[1]. Stellantis has acquired a stake in African Group to launch Auto24 and tap into this market opportunity. The investment is a component of Stellantis' overall goal to expand its range of mobility solutions and solidify its dedication to client centricity.

Sub- Saharan Africa

The largest network of online automobile marketplaces in Africa is called Africar Group. During 25 million car sellers and buyers have been able to exchange used vehicles through its web platforms over the past five years. The goal of today's launch of Auto24 is to increase African consumers' trust in the used car market. More than 40 nations in Sub-Saharan Africa are home to the Africar Group.

Stellantis investment

Stellantis is the latest OEM in the Africa and Middle East, with the goal of dominating the automobile industry in the region by 2030, including over 1 million new car sales annually. While leveraging Stellantis, the creators will quicken the growth of their initiatives while retaining the creativity, vigour, and adaptability that define start-up businesses.

Auto 24

Today's agreement with Africar Group and its affiliate Auto24 will enable us to broaden our selection of future mobility that cater to the demands of all African customers. commented Mr. Samir CHERFAN, Chief Operating Officer of Stellantis Middle East & Africa.