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Kamux Corporation, Press Release, 30.8.2024 at 10:00
HÄMEENLINNA, Finland, Aug. 30, 2024 /PRNewswire/ -- Kamux, an omni-channel company specialized in preowned cars and related integrated services, and Secto Automotive have today agreed on a long-term cooperation concerning leased vehicles returning to Secto Automotive and services to Kamux's B2B customers. Going forward, Kamux is Secto Automotive's partner for returned leasing vehicles and will sell to its customers the approximately 3,500 vehicles that are returned annually to Secto Automotive. In addition, Secto Automotive will be the leasing partner for Kamux's B2B customers for relatively new passenger cars and commercial vehicles. The companies have also agreed on a transfer of business, in which Secto Automotive's two showrooms selling used cars and their personnel will be transferred to Kamux. The completion of the arrangement is subject to approval by the Finnish Competition and Consumer Authority.
Secto Automotive is a Finnish-owned entrepreneur-led B2B car leasing operator founded in 2007, which is a pioneer in low-emission driving in Finland. The annual revenue of Secto Automotive's used car business in 2023 was approx. EUR 78 million and it has 14 employees who will transfer to Kamux as old employees. Secto Automotive's used car showrooms that will be transferred to Kamux are located in Espoo and Vantaa, Finland. The business will become part of Kamux Finland.
Tapio Pajuharju, CEO of Kamux Corporation: "Centralized sourcing of cars in larger batches is an important part of improving our operational efficiency which is at the core of our strategy, and visibility into the returning fleet improves forecasting. The cooperation agreement signed with Secto Automotive is an excellent example of the concrete actions that we are taking to achieve our long-term targets."
Jani Koivu, Managing Director of Kamux Finland: "A warm welcome to Secto's sales staff - the addition of two showrooms and capable staff will further improve our position in the greater Helsinki area. With the agreement that we've just signed, we will get approx. 3,500 relatively new and regularly serviced cars for sale every year, allowing us to offer our customers an even more comprehensive range of low-emission cars that are interesting to Finns and suitable for Finnish conditions. In addition, the leasing cooperation is a great addition to our service offering and I am sure that it is of great interest to many of our B2B customers."