Automotive manufacturer Stellantis has bought a stake in online automotive marketplace Africar Group, subsequently launching a direct-to-consumer used car company, Auto24, in Abidjan, Côte d'Ivoire, in an effort to bring new and innovative solutions to enable transparent and secure transactions.

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

Stellantis’ investment in Africar Group is a new step 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.

Operating in more than 40 countries in sub-Saharan Africa, Africar Group is a major online automotive marketplace network in Africa. During the past five years, it has enabled over 25-million car buyers and sellers to trade used cars through its online channels.

Africar Group co-founder and CEO Axel Peyriere says that, after more than five years of working with automotive manufacturers, distributors and other key players in the industry, the group has developed a multi-country digital automotive solution across sub-Saharan Africa.

“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 a secure, convenient, trustworthy and enjoyable buying or selling used-vehicle experience,” he adds.

Stellantis pre-owned vehicles business unit senior VP Xavier Duchemin says the company’s investment in Africar Group to create Auto24 reinforces Stellantis’ strategy to grow its used vehicle business activity globally in a “bold, pragmatic and agile way”.

“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 start-up companies,” he says.

In Middle East and Africa, Stellantis is the third original equipment manufacturer aiming to become the leading automotive group in the region with over one-million new vehicles sold a year by 2030.

“In sub-Saharan Africa, Stellantis offers [a] large network coverage of the automotive industry with close to 124 points of sales and maintenance.

“Today, the partnership with Africar Group, through its subsidiary Auto24, will allow us to expand our offer of mobility solutions that widely meet the customer needs in Africa,” says Stellantis Middle East and Africa COO Samir Cherfan.