In February AAA Auto Group N.V. announces the fall of the key financial indicators for 2007 due to a combination of strong growth in the cost of expansion on the one hand and a slump in sales in the used car market on the other hand, who has been in the 4 quarter. The Company announces major cost savings program in order to regain the profit of the Company.
New branch in Prievidza (Slovakia).
AAA AUTO Group extends deadline for exchange for another car for 3 days.
AAA AUTO has already provided Carlife insurance to more than 160,000 clients.
Mobile buying started in all countries with AAA AUTO car centers.
The Board decided in April to sell subsidiary companies of General Automobil and HK Partner dealing with the sale of new cars.
The capital of AAA AUTO a.s.(Inc), and its subsidiary AAA Auto Group N.V., was doubled.
The group penetrated into the top ten largest car distributors in Europe.
A luxury AAA Auto showroom opened in Pilsen.
A new trademark AAA PREMIUM AUTO started offering as good as new vehicles with superior services.
AAA AUTO climbed 28 spots in the prestigious chart of CZECH TOP 100 companies.
The board decided to close down the Polish division of AAA AUTO, due to the import of low-quality second hand cars from EU into to the market.
David Thorley took over the post of financial director (CFO) of the group AAA AUTO.
AAA AUTO starts in September a new and clearer website as a key telemarketing instrument through which sells more than half of all used cars of group.
AAA AUTO opens in September new car center in Hradec Kralove.
AAA AUTO Call Center celebrated in October 10th Anniversary, which in his lifetime sold over 350 thousand of vehicles.
AAA AUTO Group decided in the beginning of Novemberto sell some of its existing properties in Hungary. Hungary is experiencing a significant drop due to the financial markets crisis. Early December were closed two offices in the cities of Pécs and Szeged.
In November, AAA AUTO has sold 450th car in its 16 year old history.
In December, starts AAA AUTO to buy worthless old cars, falling within the obligation to pay emission charges and provides a bonus of CZK 5,000 when buying a used car with a trade-in. Elderly cars will be in cooperation with specialized firms ecologically recycled.
The Board in December approved a change of tax residence of the Company.
AAA Auto Group N.V. will be moved at 1st of January 2009 from the Netherlands to the Czech republic.
Prices of used cars fell in the Czech republic during 2008 an average of 10 to 25 percent due to lower prices of new cars and in relation to the economic downturn. A similar decline in prices was recorded in other countries of Central Europe.
AAA AUTO Group sold in the first half of the year over 35,400 vehicles.
The AAA AUTO group signed a contract with an advisor due to its entry in to the Russian market.