Auto1 Group co-founder Hakan Koç was re-elected to the company’s supervisory board and made chairman at its AGM on June 6. He replaces Gerhard Cromme.

“As a co-founder of Auto1, Hakan profoundly understands the used car business from all angles. He will accompany Auto1 Group with great expertise on its growth and profitability path. In his role as chairman of the supervisory board, he will make a key contribution for shareholders, customers and partner dealers,” Cromme stated.

Koç, who co-founded Auto1 Group with Christian Bertermann in 2012, served as the company’s co-CEO until November 2020, when he left the management board to join the supervisory board and support the executive team on a strategic level.

Sylvie Mutschler-von Specht was also re-elected to the supervisory board, while Strato AG CEO Claudia Frese and general partner Christian Miele joined it for the first time.

“We are very pleased that with Claudia and Christian we were able to win such renowned experts in their fields to our Supervisory Board. We are excited to welcome them and I look forward to their contributions,” Koç said.

According to its latest financial reporting, Auto1’s revenue fell by 3.4% year on year (y-o-y) to €1.5 billion ($1.6 billion U.S.) in Q1 2024.

Having recorded positive adjusted EBITDA for the first time in Q3 2023 and subsequently slipping back into the red in Q4, the company returned to the black in Q1 2024, recording an adjusted EBITDA of €17 million. This compared to adjusted EBITDA losses of €25.1 million in Q1 2023 and €4.5 million in Q4 2023.

Established in 2012 and a listed company since 2021, Auto1 is present in 30 countries and operates such consumer brands as WirKaufenDeinAuto in Germany and CompramosTuCoche in Spain (both of which literally mean “We buy your car”).

The company describes itself as “the largest wholesale platform for professional car dealers in Europe.”

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