AUTO24.africa, a certified used car marketplace under Africar Group’s umbrella and supported by Stellantis, solidifies its market dominance in Africa through the acquisition of Kupatana, the foremost online classifieds platform in Tanzania. The purchase from Euroafrica Digital Ventures for an undisclosed amount, marks an expansion for AUTO24.africa in Sub-Saharan Africa, reinforcing its commitment to revolutionizing the African used car market.
Kupatana.com, a well-established brand in Tanzania and the country’s leading classifieds website adds substantial value to AUTO24.africa’s portfolio. Having previously merged with Zoom Tanzania, its primary competitor, Kupatana.com’s acquisition further bolsters AUTO24.africa’s influence in the region.
Africar Group, the driving force behind AUTO24.africa, has already established more than 50 automotive classifieds verticals across Sub-Saharan Africa. This acquisition solidifies Africar Group’s position as the undisputed leader in online automotive reach within the region, particularly in East Africa, a highly dynamic part of the continent.
Currently operating as a leading certified pre-owned marketplace in Côte d’Ivoire, Morocco, South Africa, Rwanda, and Senegal, AUTO24.africa is poised for expansion in 2024 into additional countries. The company offers innovative services, including warranties, insurance, and a 150-point inspection, catering to the increasing demand for quality and certified used cars among local consumers.
With Tanzania’s population of 65 million people and a forecasted GDP growth of 6.3% in 2024, it stands out as the fastest-growing market in the region. The marketplace aims to capitalize on this opportunity, leveraging its expertise and services when launching in Tanzania and the surrounding region later in 2024. Additionally, this aligns perfectly with the company’s vision, positioning it to tap into the immense growth potential of one of Africa’s most vibrant and expanding markets.
Read More: AUTO24 expands its used cars marketplace to South Africa, Rwanda, Senegal and Morocco
Auto24’s expansion introduces robust customer protections and financing options
Auto24, the innovative auto marketplace, is revolutionizing the African automotive landscape with a comprehensive package of buyer-friendly features. The platform now offers a remarkable five-day return policy, a six-month warranty, one-year maintenance, and one-year insurance plans for all automobiles.
The company expanded its footprint in September 2023, venturing into four new African markets: Morocco, Rwanda, Senegal, and South Africa. This expansion marked a milestone exactly a year after the startup’s launch in Abidjan, Côte d’Ivoire. The initial launch aimed to provide “reconditioned used cars” coupled with value-added services, including a five-day refund policy, a six-month warranty, and comprehensive one-year maintenance and insurance plans for all vehicles.
Axel Peyriere, the CEO and co-founder of Auto24, shared insights, stating that the expansion is to build on a “bullish” year. Morocco and South Africa were chosen for expansion due to their prominence as the two largest car markets on the continent. Auto24’s latest initiatives and market expansion underscore its commitment to providing unparalleled services and establishing its presence across diverse African regions.
It is addressing challenges in Africa’s car market, where a preference for new imported vehicles exists due to the lack of local production. However, affordability issues lead many to opt for used cars, presenting uncertainties for buyers.
Its parent company, Africar Group, has been a pioneer in online automotive classifieds in Sub-Saharan Africa since its founding in Australia in 2016. Africar operates and grows the largest network of automotive marketplaces in Africa. Available in more than 45 countries, and covering markets totalling more than 1 billion people, it has been helping millions of buyers and sellers of pre-owned vehicles to transact safer and easier over the last 5 years
Stellantis, as the main investor, continues to back AUTO24.africa in its journey which perfectly aligns with Stellantis’ plan DARE FORWARD 2030 by participating to expand our offer of mobility solutions to widely meet the customer needs in Africa. At Auto24’s launch in 2022, Xavier Duchemin, the Senior Vice President of Pre-Owned Vehicles at Stellantis, said the investment in African Group to create Auto24 reinforces its plan to grow its used vehicle business activity globally in a bold, pragmatic, and agile way.
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