PARIS--(BUSINESS WIRE)--Regulatory News:
This alliance confirms the PSA Group's (Paris:UG) ambitions in the used-car business. For autobiz, it rewards the work accomplished over the past decade in helping car manufacturers and distribution groups implement turnkey solutions for online automotive and trade-in pricing.
autobiz SA announces the acquisition of a stake by the PSA Group. This acquisition of a minority stake reinforces the close links that have long existed between the two companies as evidenced by the Reprise Cash By Peugeot and Reprise Citroën websites developed by autobiz in several European countries.
This closer association will make it possible to fast-track joint business activities abroad, in Asia and South America in particular. It does not pose a challenge to the autonomy and independence of autobiz, which has created teams dedicated to the PSA Group's projects that are completely separate from those that service the company's other customers.
Under the "Push to Pass" plan, the PSA Group has established the objective of becoming a global player on the used-car market and this alliance with autobiz is a component of this strategy. It follows on the heels of the car manufacturer's acquisition of a stake in Aramisauto.
autobiz's pricing is currently available in nearly 30 countries. Its reliability has made it a benchmark for car manufacturers, distributors and leasers, for whom price-based management has become a priority. autobiz has become a major player in Big Data in its industry on the strength of its unique expertise in pricing. The company is currently developing a consulting business for industry professionals and offers its technology to all its customers throughout Europe.
Based in Suresnes, France, the company now has close to fifty employees distributed throughout France, Germany, Spain and Italy.
“The strengthening of our partnership with autobiz is part of our
development strategy for the used-car market, which will particularly
rely on the expertise developed by autobiz in the field of Big Data”
declared Marc Lechantre, Vice-President of the PSA Group's Used-Car
“The PSA Group is a long-standing partner of autobiz. Its decision to fully integrate us into its strategic objective of becoming a global player on the used-car market is a sign of trust for the future” noted Christophe Louvard, CEO of autobiz.
autobiz SA is a worldwide leader in automotive pricing. Since 2004, the company offers a range of tools to develop the used car business for distribution, leasing and auto insurance professionals. It also operates automotive trade-in services for individuals in Spain, France and Italy. Each year, autobiz SA allocates 15% of its revenue to R&D and has been collaborating with researchers from the Universite Paris-Sorbonne since 2010.
About PSA Group
With sales and revenue of €54 billion in 2015, the PSA Group designs unique automotive experiences and delivers mobility solutions that provide freedom and enjoyment to customers around the world. The Group leverages the models from its three brands, Peugeot, Citroën and DS, as well as a wide array of mobility and smart services from its Free2Move brand, to meet the evolving needs and expectations of automobile users. The French automobile manufacturer PSA is the European leader in terms of CO2 emissions, with average emissions of 102.4 grams of CO2 per kilometer in 2016, and an early innovator in the field of autonomous and connected cars, with 1.8 million such vehicles worldwide. It is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia. Find out more at groupe-psa.com/en.
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