Posted on Oct. 27, 2021, 2:30 p.m.Updated Oct 27, 2021, 2:44 PM
Investors are firmly betting on the online sale of used cars. Since the start of the year, several “unicorns” positioned in the second-hand market have raised billions of euros – even if the vast majority of them have not yet made a single penny in profit. They are called Auto1, Cazoo, Cinch, CarNext, or even AramisAuto, and want to replicate the success of the American Carvana, created in 2012 and today valued more than $ 50 billion on Wall Street.
The German Auto1 (Auto1.com, Autohero, vendezvotrevoiture.fr) thus raised 1.8 billion euros when it was floated on the Frankfurt Stock Exchange last February. A month later, the British Cazoo, born barely three years ago, was listed on the New York Stock Exchange through a merger with a SPAC (special purpose acquisition company), raising $ 1.6 billion.