Deutche Motors has signed a contract to acquire 100% of Sajik Auto Land, a large used car trading complex based in Busan. The total acquisition amount is 45 billion KRW, and Sajik Auto Land will become a subsidiary of Deutche Motors.
Founded in 2015, Sajik Auto Land is a premium used car complex located near Sajik Sports Complex in the Yeonje District of Busan. Covering an area of 16,434 square meters (approximately 4,971 pyeong), with a total building area of 19,021 square meters (about 5,753 pyeong), it houses 58 dealerships displaying over 1,500 vehicles.
Additionally, it hosts various accompanying facilities, including financial institutions, insurance companies, and the used car department of BMW. Last year, it generated revenue totaling 4.1 billion KRW from rentals and commissions, with an operating profit of 1.3 billion KRW.
Hyuk-min Kwon, CEO of Deutche Motors, stated, “To expand our business knowledge and service capabilities accumulated from operating the large trading complex Deutche Auto World in Suwon, we have been continuously considering the acquisition of major trading complexes in the Busan and Gyeongnam areas. Starting with the acquisition of Sajik Auto Land, we aim to create a national network for the used car trading platform and further enhance the synergies across all subsidiaries of the group.”
Having grown through the distribution of premium brand imported cars, Deutche Motors is expanding its strategy to strengthen the used car sales platform and broaden its new business scope. Leveraging its newly launched online brokerage platform ‘Charancha,’ along with acquiring Sajik Auto Land, one of the largest complex facilities globally, it is expected to yield significant synergies in the used car trading sector.
Charancha, a specialized integrated mobility platform company and a subsidiary of Deutche Automobile Group, anticipates a synergistic and accelerated growth effect from the acquisition of Sajik Auto Land, combining its offline infrastructure with the online used car platform. Through this acquisition, it aims to expand the coverage of its newly launched ‘Charancha Home Service’ and enhance the number of certified used cars within the Charancha service, making it easier for customers to purchase trustable used cars. The company aims to enhance customer satisfaction and increase its influence within the used car platform market.
Lee Sang-jin daedusj@autodiary.kr