Germany-based online used-car dealer Auto1 will grow more strongly than anticipated in 2022, with annual turnover now forecast to be €6 billion to €7 billion ($6.1 billion to $7.2 billion U.S.), the company announced in Berlin, versus the previous expectation of €5.7 to €6.8 billion. The gross profit margin and margin for the operating result were confirmed at €470-580 million and between -2.0 and -3.0%, respectively.
The company’s AutoHero platform has helped Auto1 generate more profit, said Auto1 CEO Christian Bertermann. The retail brand’s gross profit per unit sold rose to over €1,000 in the second quarter. According to Bertermann, this target, which was set at the time of the company’s IPO, was reached a year earlier than expected. Auto1 also increased the number of vehicles it has sold to 166,147.
Auto1 Group is, according to its own information, Europe’s leading digital platform for buying and selling used cars online. It offers services for consumers and professional car dealers across Europe to trade used cars through its platforms. The Berlin-based company sells secondhand cars in more than 30 countries. It was founded in 2012 by Christian Bertermann and Hakan Koc.