Vision
We enable mobility – today, tomorrow and in the future.
Business Concept
MEKO is an International Corporate Group that operates and develops business in the automotive aftermarket. We focus on growth, collaboration, creating synergies and on driving sustainable and digital development in our industry. Our business concept is timeless and is based on enabling mobility – today, tomorrow and in the future – as technology develops and vehicles are used in new ways.
We meet the need for services and products for vehicle workshops and other companies through our market-leading concepts, distribution networks and our efficient logistics chain. Our concepts are also aimed at private and commercial vehicle owners where we meet the need for the service and repair of vehicles.
Market with potential
MEKO operates in the car aftermarket and is market leader in northern Europe with a presence in eight markets around the Baltic Sea, with a total of 75 million people and 35 million cars.
|
|
Denmark |
Estonia |
Finland |
Latvia |
Lithuania |
Norway |
Poland |
Sweden |
|
Population, millions |
5.9 |
1.4 |
5.6 |
1.9 |
2.9 |
5.5 |
36.8 |
10.5 |
|
GDP growth, % |
1.4 |
2.4 |
1.0 |
2.6 |
2.7 |
1.5 |
2.3 |
0.6 |
|
Number of cars, millions |
2.8 |
0.8 |
3.7 |
0.8 |
1.7 |
2.9 |
26.5 |
5.0 |
|
Average distance driven, km |
15.5 |
9.5 |
13.2 |
12.5 |
13.0 |
11.1 |
16.5 |
11.5 |
|
Cars >5 years, % |
74.0 |
89.5 |
86.0 |
92.3 |
93.1 |
76.6 |
91.6 |
81.4 |
|
Purely electric cars, % |
7.1 |
0.4* |
2.6 |
0.5 |
0.68 |
20.6* |
0.1* |
5.9 |
Source: Latest available data collected in February 2024 from Wolk, IMF, Statistics Denmark, Statistics Norway, Finnish Information Centre of Automobile Sector, Polish Investment & Trade Agency, Statistics Poland, Statistics Sweden, Statistics Estonia, Republic of Estonia Transport Administration, National Statistical System of Latvia, Regitra.
*Information on fully electric cars (%) for Estonia, Norway and Poland is in whole or in part based on data from 2022 as data is yet to be released for 2023
Global trends create new growth opportunities
As a rule, the need for maintenance and repair does not increase until the cars reach an age of five years. At the same time, new automotive technology and other global trends are creating new needs and expectations among the customers, including when it comes to digitalization, sustainability and availability. The need for new solutions and services, regardless of the age of the cars, provides an opportunity for existing actors to broaden and integrate their offers or for new actors to enter the market.
For us, It is important to have a strong understanding of how the market and our customers’ needs change and how we are affected by it. By making use of these driving forces, we create long-term and sustainable growth.
Digitalization of the customer journey creates integrated solutions, transparency and simplicity for both workshops and car owners. At the same time, it creates major opportunities for more efficient logistics through the shortening of value chains and optimization of logistics flows.
Analysis of data provides better understanding of the needs of workshops and car owners. By drawing conclusions from data, we can automate the flows and create tailor-made customer offerings.
Carpools, leasing and other kinds of car ownership are creating new customer needs and new business opportunities. For example, solutions for simplifying carpooling or the
In order to reduce the climate impact from the transport sector, there is currently a shift from fossil-fueled vehicles to electric and hybrid cars. New technology demands new expertise in the workshops and more flexible business models to create profitability as a result of fewer spare parts.
Modern technical equipment, which among other things helps the drivers to park and navigate, requires new expertise and calibration equipment in the workshops. An important new business to compensate for traditional cars with internal combustion engines in all likelihood decreasing in number in the future.
Data from connected cars can be used to develop new solutions that make life easier for drivers. This includes services that simplify the planning and maintenance of the cars and, in the longer term, remote maintenance.