Finland-based Alma Media will launch a new digital car auction service to let individuals sell their cars to dealerships. It will start operating in the first quarter of 2023.
According to company data, nearly 380,000 transactions between private sellers and car dealerships occur annually in Finland. The new service will let individuals reach dealerships all over the country, compare bids simultaneously, and make a deal with the selected dealership within 48 hours.
To put a second-hand car up for sale, the seller will need the registration number, mileage, and a few pictures. At first, only cars with under 200,000 kilometers on the clock and less than 10 years old will be accepted for auction. The service will be free of charge for individuals and will not oblige them to accept the best bid, said Alma Media in a blog post announcing the move.
It is not yet clear whether the new service will be launched on a separate site or on one already operated by Alma Media. The company owns two car verticals: NettiAuto.com, the largest auto site in Finland, and the automotive marketplace for car dealers AutotAlli.com.
Alma Media focuses on digital services and publishing. The company’s headquarters is in Finland, but it also operates in other Nordic countries, the Baltics and Central Europe. It is listed on the Helsinki Stock Exchange.