The parent company of autos vertical Biltorvet, which competes with EBay-owned Bilbasen, continued to grow in 2019. Auto IT reported a 3.1% increase in gross profit to DKK 39 million ($5.9 million).

Auto IT reported profits of DKK 1 million for 2019. The company also saw a 7.4% increase in payroll costs after increasing its staff from 49 people in 2018 to 54 this year.

In the annual report, Auto IT said that it has bought back shares in the company from dealers that have closed their business or requested to sell their shares. Auto IT now owns 1.95% of its own shares.

Auto IT, which is dealer-owned, said it is currently experiencing an increase in ad sales, but is otherwise unsure of  the economic consequences of the Covid-19 pandemic.

AutoUncle, another EBay competitor in Denmark, had a strong 2019, turning a profit for the first time. According to its annual report, gross profit increased 82% to €2.1 million. The company also showed a net profit of €194,815, compared to a loss of €41,958 in 2018.

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