Can you elaborate on the dealership level regarding the four different dealer subscription packages? Specifically, the different features, which ones are most valued, and the pricing of each package? We have information on the C2C packages but lack details on the B2B specific traits.

I don't have all the details, but the objective was to upsell dealers to the highest packages. We aimed to lower the value of the lowest packages by removing functionalities and adding them to the highest packages to create value. When I was there, we changed the visibility on the website for dealers paying more. Dealers with the highest packages had a better chance of appearing on page one, similar to Google's model. If you want your car to appear on page one, you need the highest packages. Otherwise, the reach, clicks, and leads will be lower with the lowest packages. That was the biggest differentiator.

What is the average cost per lead per listing at the B2C level?

If I am not mistaken, the cost per listing was between 30 and 50 francs. It depended a lot on the dealers. What we realized is that smaller dealers were paying too much compared to the larger dealers, who received significant rebates. We tried to rebalance that to ensure fairness among dealers. It was a process that took a few years because it wasn't easy. We increased prices more for the larger dealers than for the smaller ones to achieve a fair balance.

Did you notice any churn due to SMG increasing prices annually? How do you view the capacity to raise prices? How much room is there for price increases for dealers and in the C2C channel?

The brand position of AutoScout is so strong that there are still many opportunities to monetize. Due to AutoScout's strength in the market, the churn rate is extremely low. Dealers may complain and not accept changes, but they do not leave because they need AutoScout to sell their cars.