Automotive Holding, previously known as PromoGroup, has been operating for over 40 years in the automotive sector and is specialised in the B2B cars and motorcycles international commerce.
PromoGroup was founded in 1978 and since 1984 has become a multi-brand trader in many European areas.
Import-export offices were opened in the USA in 1993 with a view to improving the company purchasing power and to widening its offer by acquiring alternative products that were hard to find in Europe. Starting from 2000 PromoGroup established itself as one of the major trading players in the EU markets.
The first decade of the 00’s saw PromoGroup’s business flourish with an average of 8.000 vehicles sold per year. The company had its peak in 2007/2008 with 12.000 vehicles sold, which resulted in 400.000.000 € revenues. During that time the company had three logistics offices, located in strategic European areas, in order to fulfill the buying and resales process.
In 2010 PromoGroup became partner with one of the most important rent-a-car companies, operation which resulted in the opening of 7 sales offices in Northern Italy.
In 2012, as a consequence of the economic crisis that affected the whole western world and that posed a threat to almost every company, PromoGroup was sold to an American Group. Automotive Holding was born to a part of PromoGroup and mostly focused on premium vehicles and on emerging markets (in particular the Eastern ones) managing to sell approximately 2.000 vehicles per year between 2013 and 2019.
Starting from 2020, due to the pandemic which has tampered with the market demand and with the growth of the aforementioned Eastern markets, Automotive Holding is back to its core business, which consists in selling mass-market vehicles especially in the EU area. The output of this whole process is shown in the sales of circa 4.000 vehicles per year and in the consolidation of its client portfolio.
Always open to challenges, Automotive Holding will not back down from this new scenario aggravated by the pandemic and is fully prepared to resort to its experience in order to strengthen existing commercial relationships and to form new ones.
According to its personnel, Automotive Holding major strengths are:
- Strong networking relationships developed in over 40 years
- In-depth knowledge of the specific characteristics, commercial issues and techniques of the automotive market
- Decision-making speed
- Being always up to date on the market dynamics
- Financial soundness