The online used car dealer Auto1 is further reducing its sales expectations for the current year. The company, which is listed in the SDax, announced on Wednesday in Berlin that the aim was to sell around 655,000 vehicles. That corresponds to the lower end of the target range, which the upper brand Auto1 had capped at 725,000 units in August. However, sales should at least reach the middle of the previous forecast at 6.5 to 6.7 billion euros. In addition, the operating loss before interest, taxes, depreciation and amortization adjusted for special items (adjusted Ebitda) should continue to be two to three percent of sales. This corresponds to a minus of between 155 and 175 million euros.
In the third quarter, Auto1 increased sales by almost 36 percent to a good 1.7 billion euros compared to the same period last year. The gross profit – the sale proceeds minus the purchase price – rose by a good six percent to 123.4 million euros. The operating loss (adjusted Ebitda) nevertheless rose by a good 42 percent to 35.2 million euros. The bottom line was that the deficit grew by 58 percent to 55.1 million euros.