AUTO1 Group launches digital floorplan financing solution for partner dealers
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EQS-News: AUTO1 Group SE
/ Key word(s): Product Launch
AUTO1 Group launches digital floorplan financing solution for partner dealers
Enhancing the digital car buying experience for merchants AUTO1 Financing enables dealers to seamlessly add the financing solution to the vehicles they purchased on the AUTO1.com platform as part of their digital customer journey. After purchasing cars, merchants can choose to finance them with one click and instant approval, making it the most convenient solution on the market. With its new digital product, AUTO1 Group has reimagined inventory financing to make it the most simple, convenient and transparent solution for dealers. Used car dealers will receive their cars and documents much faster than through external floorplan financing. The digital offering currently is available to select dealers across Germany, France, Spain and Austria, with more than 500 merchants already financing. AUTO1 Group aims to continue the rapid growth trajectory by rolling out to more merchants and markets throughout the year. AUTO1 Financing as strong future revenue and profit driver By providing used car dealers with a seamless and efficient financing solution, AUTO1 Group is increasing sales and improving dealer loyalty. “AUTO1 Financing is a very attractive business for us on a stand-alone basis. Enabling dealers to build larger inventories with AUTO1 Financing and as a result buy and sell more vehicles will be a strong future revenue and profit driver for us and will contribute significantly to our growth,” said Markus Boser, CFO of AUTO1 Group. “With the recently launched AUTO1 Financing we give used car dealers the means and flexibility they need to grow their business faster with us. We’ve received overwhelmingly positive feedback from our partners already and we are certain that being a reliable and strong financing partner for our dealers will deepen our relationships with them,” said Christian Bertermann, CEO & Co-Founder of AUTO1 Group. AUTO1 Group has entered into a EUR 125 million asset backed securitisation (ABS) program to refinance the receivables generated through AUTO1 Financing, with BNP Paribas as Senior Note Purchaser. The ABS is set up to be upsized and to cover additional markets going forward. 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 online. 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 car online. AUTO1 Group is operating in over 30 countries and generated a revenue of EUR 6.5 billion in 2022. 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
Christine Preyer Director Communications & PR Phone: +49 (0)175 64 59 192 Email: press@auto1-group.com Investor Relations contact Marc Schellenberger Head of Investor Relations Phone: +49 (0)30 - 2016 38 213 Email: ir@auto1-group.com
01.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | AUTO1 Group SE |
| Bergmannstraße 72 | |
| 10961 Berlin | |
| Germany | |
| Internet: | https://www.auto1-group.com/de/ |
| ISIN: | DE000A2LQ884 |
| WKN: | A2LQ88 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1827471 |
| End of News | EQS News Service |
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1827471 01.02.2024 CET/CEST
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