PSA Group has acquired a stake in Autobutler, an online platform for car repairs. No financial terms were disclosed. Autobutler’s backers include Index Ventures.
PARIS–(BUSINESS WIRE)–Regulatory News: The acquisition of an equity interest in this new business strengthens the PSA Group’s (Paris:UG) multi-brand aftermarket offering, particularly for “smart buy” customers seeking the best value for money. It will also help the Group to develop business in its own networks, expand its customer base, attract new independent auto repair shops, and improve its expertise in digital aftermarket services.
Launched in 2010, the Autobutler online platform has already allowed nearly 300,000 customers in four European countries to get an online quote for vehicle maintenance and repair. Users simply enter their car model, location and the type of work they want done, and receive corresponding offers and quotes from three garages located near their home.
This type of service meets new needs from customers, who are increasingly turning to the Internet to compare prices and services before entrusting their vehicle to a garage. PSA’s investment will go hand in hand with expansion of the business into new countries.
In its Push to Pass strategic plan, the Group set the two-pronged objective of being a benchmark carmaker and becoming customers’ favourite supplier of mobility services.
Commenting on the transaction, Jean-Baptiste de Chatillon, Chief Financial Officer of the PSA Group, said: “This investment is particularly well aligned with our Push to Pass strategy. It will help us to shake up existing paradigms and adjust our business so that we can better meet the needs of our customers, offer them a full range of mobility-related services and tap new growth markets.”
The co-founders of Autobutler, Peter Zigler and Christian Legêne, said: “The future in the automotive industry is digital. For the last six years we have proven that car owners are ready to go digital in the search for reputable garages. With PSA’s focus on digitalisation and their Push to Pass strategy we see great synergies and believe the alliance is a good match which will help Autobutler become Europe’s number one platform for online workshop repairs offering the best transparency and trust”.
About PSA Group
With its three world-renowned brands, Peugeot, Citroën and DS, the PSA Group sold 3 million vehicles worldwide in 2015. Second largest carmaker in Europe, the PSA Group recorded sales and revenue of €54 billion in 2015. The Group confirms its position of European leader in terms of CO2 emissions, with an average of 104.4 grams of CO2/km in 2015. With a fleet of 1.8 million connected vehicles on the road worldwide, the Group is on the cutting edge of innovation in this field, and is expanding its services as a mobility provider. It is also involved in financing activities (Banque PSA Finance) and automotive equipment (Faurecia). For more information, please visit groupe-psa.com/en
Founded in Denmark in 2010 by Christian Legêne and Peter Zigler, Autobutler is one of Europe’s leading online marketplaces for auto repairs offering car owners an easy way to get competitive quotes from quality garages for any kind of car repair, offering transparency and trust in an otherwise puzzling industry. It currently has a network of garages and customers in Denmark, Sweden, UK and Germany.
Communications Division – www.groupe-psa.com/en