Spain-based digital auto retailer Clicars had revenue of €370 million in FY2022, up 79% year on year (y-o-y), according to a filing made with Spain’s company registry (Registro Mercantil), newspaper El Economista reports.
90.8% of its revenue (€336 million) came from the sale of vehicles and 8.8% (€32.7 million) from commissions and other services, while income from other sources amounted to €1.09 million.
However, in the six months to March 2023, revenue declined by 2.6% y-o-y, to €182 million, likely reflecting deteriorating conditions in the used car market in Spain amid a slowing economy and rising interest rates.
Clicars lost €2.2 million ($2.4 million U.S.) during the 12 months to September 2022 (FY2022).
As of the end of September 2022, the company’s headcount stood at 668, rising by more than a quarter (from 505) over the previous 12 months.
Meanwhile, it took Clicars an average of 43 days to sell a car (from the time it acquired it) during FY2022. During FY2022, the company increased to size of its reconditioning facility from 40,000 square meters to 70,000 square meters.
Clicars was fully acquired by Aramis Group in May last year. While financial terms were not disclosed, Europa Press reported at the time that the value of the transaction exceeded €100 million, citing “sources familiar with the deal.”
Based in Paris, Aramis had been Clicar’s majority shareholder since 2017. Aramis itself 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 digital auto retail brands in a number of other European markets, including AramisAuto (France), CarSupermarket (U.K.), BrumBrum (Italy) and Cardoen (Belgium).