carsales.com has acquired a controlling shareholding in Chileautos (www.chileautos.cl), the number one automotive classifieds website in Chile. Through this transaction, carsales acquired an 83% stake in Chileautos, with the existing owners retaining the remaining 17% stake.
As has been the case in our other international acquisitions, these things don’t happen overnight and has been the result of over 18 months of working through the process to get the right outcome. Our team at carsales has done a great job once again.
Why Chileautos? Chileautos is the clear number 1 online automotive website in Chile in all metrics and we believe is in a great position to benefit from carsales IP and technology to have a positive effect on our international portfolio.
Why Chile? Firstly, we can start to capitalise on the work we are doing in Mexico in rolling out our technology in Spanish to achieve economies of scale. Secondly, Chile has been the strongest country in South America by GDP per capita to offset its relative size to Brazil and Mexico.
I am excited at this development in our international portfolio and I am really looking forward to working with the Chileautos business. An added bonus is now having a base in Santiago in between São Paulo and Guadalajara….