Peugeot buys used car retailer in diversification push
PSA Group, the maker of Peugeot, Citroen and DS cars, said on Monday it was buying a stake in a French online second-hand car retailer as it expands into new areas of business.
The carmaker is in exclusive talks with multi-brand car retailer Aramisauto to purchase a 30 percent holding, before injecting more cash through a capital increase to secure a majority stake, PSA said. Financial terms were not disclosed.
The deal will unlock "strong growth potential in a second-hand market that is twice the size of the new car market, but where we currently have little presence," said Marc... read more
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