Revenue at Madrid-headquartered digital auto retailer Clicars fell by 2.6% year on year (y-o-y) during the six months to March 2023 (H1 FY2023), according to the latest financial reporting from parent company Aramis Group. 

This decline came amid deteriorating market conditions: According to data from Adevinta Spain’s Coches.net auto vertical, the average price of used cars in Spain fell in both February and March this year — with the former month marking the first decline in 29 months. 

In March, average used car pricing in Spain fell by 2.7% y-o-y — the steepest decline in almost nine years — as local consumers found themselves squeezed between rising interest rates and still-elevated inflation. 

Moreover, this downward trend continued into April, when average used car pricing fell 2.1% y-o-y.

More broadly, it is worrying for Clicars — and perhaps for digital auto retail in Spain as a whole — that the company’s volume growth appear to have stalled.

Founded in 2015, Clicars was fully acquired by France-based Aramis in May 2022. 

Aramis is 70% owned by car manufacturer Stellantis Group, which was formed by the merger of PSA Group and Fiat Chrysler. Apart from Clicars, Aramis has five other digital dealer/car supermarket brands: AramisAuto (France), CarSupermarket (U.K.), Cardoen (Belgium), BrumBrum (Italy) and OnlineCars (Austria). 

Aramis sold a total of 43,992 cars (28,579 refurbished and 5,413 pre-registered) in H1 FY2023, but it did not provide a breakdown of sales by country. This represented y-o-y growth of 6.7%.

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