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Jan 24 2022, 16:35 GMT
Auto Trader Group (AUTO) remains the dominant UK online used car marketplace for some 14,000 dealerships. While the used car market navigates uncharted waters, AUTO continues to add to the value proposition, with an average revenue per retailer (ARPR) of £2,199 at the H122 print, +13% on H120, and AUTO could be a key beneficiary of the transition to online. We initiate with a ‘Neutral’ rating and a 700p price target.