Revenue at France-based digital auto retailer Aramis Group rose by 20.0% year on year (y-o-y) to €527 million ($566 million U.S.) in the three months to December 2023 (Q1 FY 2024). 

It sold a total of 26,442 vehicles to private customers during this period, which represented y-o-y growth of 31.9%, according to a report published by the company.

Aramis operates in six European markets (France, the U.K., Italy, Spain, Belgium and Austria), and revenue increased in all of them except Spain during the quarter.

The company did not comment on its margins or profitability, but it did note that the average selling price of refurbished vehicles had fallen by 3.0% y-o-y in Q1 FY 2024, “reflecting both mix effects and the impact of the erosion of selling prices in the used vehicle market in general. The decline of the latter has notably accelerated in the United Kingdom since September.”

Clicars, Aramis’ Madrid-based subsidiary, saw revenue decline by almost a fifth (19.7%) y-o-y to €74.5 million in Q1 FY 2024. During the quarter, Clicars opened physical showrooms in two Spanish cities — Madrid and Zaragoza.

Aramis noted that “[Clicars] continues its transition. Since last summer, the company has been particularly focused on establishing a reasoned territorial presence in Spain, shifting its mix towards more accessible vehicles and improving the refurbishing processes at its Villaverde center. A return to a growth trajectory is expected for the second half of 2024.”

In contrast, France (where it operates as AramisAuto) and the U.K. (CarSupermarket) saw revenue rise by 24.0% and 36.9% to €231 million and €102 million, respectively. 

While revenue soared 7x in Italy, this was from a very low base. BrumBrum, Aramis’ Italy-based subsidiary, had revenue of just €6.6 million in Q1 FY 2024. 

According to a Aramis Group co-founders Nicolas Chartier and Guillaume Paoli, “Aramis Group continues its growth trajectory in 2024 and consolidates its European leadership, despite a market that remains somewhat uncertain.”

“Thanks to the strong commitment of its teams and the anti-fragile business model developed since the Group’s inception 22 years ago, it has once again been able to react quickly to market changes and benefit from shifts in its environment.” 

Aramis is 70% owned by car manufacturer Stellantis Group. Based in Amsterdam, the latter was formed in 2021 by the merger of PSA Group and Fiat Chrysler. 

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