Investing.com - The light and heavy vehicle dealership network Automob debuts on the Brazilian stock exchange this Monday, December 16, with more than R$13 billion in gross revenue. The company will be listed after Vamos (BVMF:VAMO3), from the Simpar group (BVMF:SIMH3), to complete its corporate reorganization. With ticker AMOB3, the shares were up 217% at 11:22 a.m. (Brasília time), quoted at R$0.54.
The company claims to be the largest dealership group in Brazil, with a robust portfolio of brands, products and services. The new company has 188 stores in 12 states, 5.2 thousand employees, an EBITDA of R$439 million and net revenue of R$12.1 billion, according to an overview of the third quarter of this year.
"There are 35 brands, with dealerships for cars, motorcycles, trucks and agricultural machinery. We are born big, diversified, with a unique portfolio," says Automob's CEO, Antonio Barreto. Among the 28 light car brands available in 126 stores are BMW, Toyota, Jaguar, Mini, Jeep, Fiat and Volvo, among others. For heavy vehicles, there are 7 brands, including Komatsu and Fendt, in 62 stores.
The company's market inspiration, according to Barreto, is the United States. "We use the American market very much as a reference to learn from," he points out, indicating that the model still needs to grow in Brazil, but can be inspired by regions that are considered more mature in this field.
In addition, the company is monitoring the ongoing monetary tightening cycle and how higher interest rates might affect business. "Even though the interest rate moment may have some impact, we are still selling an essential product in the customer's life," argues the CEO, indicating that the company will seek to diversify revenues, also focusing on after-sales services, such as insurance and armor.
Read the full story at: Automob (AMOB3) debuts on B3 - see the CEO's main goals By Investing.com