News and Announcements
LatAm Autos Increases Lead as Mexico’s Auto Classifieds Portal
- Published July 31, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- LatAm Autos Ltd (ASX: LAA) remain to be the number one online classifieds in Mexico’s automobile industry with an increased growth in organic traffic at +70% organic traffic growth in Mexico, 34% organic traffic growth in Ecuador and 70% organic traffic growth in Peru.
- The closure of the Argentinian operations led to an almost 70% reduction in the company’s offline revenues.
The introduction of Depth Products to the company’s revenue model accounted for $0.4million in revenues.
LatAm Autos Ltd (ASX: LAA) reported an increase in the growth of its organic traffic specifically at +70% in organic traffic growth in Mexico, 34% organic traffic growth in Ecuador and 70% organic traffic growth in Peru.
The company believes that having the right people and providing the best workplace for them is a key to their success. LatAm Autos is headquartered in Quito, Ecuador but has over 150 employees across Latin America.
LatAm Autos, with a presence in six countries across the United States, is engaged in online classifieds and content platform for the automobile industry in Latin America. The company provides key information in the process of acquiring vehicles. Its goals are to facilitate transactions between buyers and sellers and in the process integrate the region’s auto industry.
The company achieved several milestones during the first half of 2017 regarding new revenue streams that are expected to allow the company to earn substantial revenues related to the finance, telematics, insurance and other car purchasing transactions.
These depth revenue streams are considered more attractive compared to traditional revenue streams from advertising and are expected to leverage the company’s dealership network as well as the visitors to its classifieds websites.
LatAm Autos reported an almost 70% reduction in the company’s offline revenues due to the closure of its Argentinian operations which accounted for a significant percentage of its print sources revenues. However, it was able to reduce its marketing expenses by 50% as a result of the closure of the Argentinian operations and the optimisation of its marketing expenses.
The company has recently signed a deal with two of Mexico’s most significant national dealer associations with a combined customer potential of 450 car dealers. It reported an increase in revenues in its core markets in Ecuador and Mexico and attributed this growth to the introduction of Depth Products namely MotorCredit, CarSync, General Insurance and Mechanical Guarantee.
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