Profit from the beginning of this year into September from online auctions of used cars sold through dealerships in Brazil tripled when compared to the same time span as last year.
While e-auction revenue in the nine-month period doubled to 22bn reais (approximately $5.7 billion) from 11bn reais (approximately $2.8billion), profit nearly tripled to 282mn reais (approximately $73 million) from 98mn reais (approximately $25 million), according to a study carried out by vehicle re-marketing firm and B2B platform provider Auto Avaliar on 2,500 dealerships and 30,000 multi-brand retailers.
The average transaction value was 28,700 reais per car compared to 26,000 reais (approximately $6,700) last year.
“The overall profitability of dealerships doubled with the online transfer of used vehicles, being driven by efficient management and the effective control of operations,” says Auto Avaliar CEO JR Caporal.
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