Information on the target
ConectCar has acquired 100% of the shares of iCarros, a leading automotive classifieds platform previously owned by Itaú Unibanco. The acquisition agreement was formalized on June 11, 2026, marking a significant strategic move for ConectCar. With approximately 6 million monthly visitors, iCarros adds substantial value to ConectCar's ecosystem, enhancing its presence in the automotive consumer journey.
iCarros operates as a bilateral intermediation platform, connecting buyers and sellers of new, used, and pre-owned vehicles. The platform boasts a commercial base of over 15,000 stores and 3,000 dealerships, primarily focusing on the C2C segment, which facilitates direct transactions between individuals. Prior to the acquisition, Itaú Unibanco had begun phasing out the B2C segment aimed at retailers.
Industry overview in the target’s specific country
The digital automotive market in Brazil is characterized by a fragmented competitive landscape, with iCarros holding approximately 6% of active listings. The market is dominated by OLX Autos, which commands a 30% share, followed by Webmotors at 18%. Other players, including Mercado Livre Veículos, Mobiauto, and Na Pista, each hold 13%, contributing to the overall competitive dynamics of the sector.
This fragmentation is indicative of a highly competitive environment where no single player can operate independently of competitors and customers. The presence of established entrants, such as Mercado Livre, which has already ventured into the automotive vertical, further intensifies the competition. Generalist platforms also pose a threat, as they integrate various services that appeal to the same consumer base.
As the automotive market continues to evolve, the pressure from these consolidated entrants is likely to increase, compelling existing players to innovate and adapt. The strategic acquisition of iCarros by ConectCar is a response to these market dynamics, positioning the company to leverage synergies between vehicle purchasing and usage services.
The rationale behind the deal The acquisition of iCarros aligns with ConectCar's strategy to expand its footprint in the automotive consumer journey, transitioning from merely facilitating vehic…