BERLIN (dpa-AFX) - Online used car dealer Auto1 was able to curb its loss somewhat last year. The bottom line was a minus of almost 246.6 million euros, according to the annual report published on Wednesday. In 2021, it was still around minus 374.1 million euros. High used car prices in a poor economic environment had slowed the Berlin-based company's business in 2022. The used car market had slumped by 17 percent in Europe in 2022 - and by as much as 20 percent in Germany.

However, CEO and co-founder Christian Bertermann sees the company on course. In 2023, he wants to become more profitable, especially in day-to-day business. "This year, we are laying the foundations for long-term profitable growth, while continuing to invest in all core areas in parallel," he said at the end of February when presenting preliminary figures./lew/stk