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Reliable information on cars
In all our activities, Kamux aims to adhere to good consumer sales and governance practices as well as the principles of responsible business we have defined for our own operations. We expect that our personnel and all partners follow Kamux’s Code of Conduct.
We have made strategic investments in increasing the efficiency of our operations and the leading with knowledge approach in our sourcing and sales processes. By developing internal processes, we harmonize the processing of cars and the quality of collected data in all our showrooms. We aim to provide our customers with information on cars for sale that is as comprehensive as possible and even more reliable than before. Kamux communicates openly about the true condition of and the possible defects detected in the cars for sale as required by the Consumer Protection Act.
Transparent and reliable used car retail promotes Kamux’s customer satisfaction as well as reduces the number of potential post-sale disagreements and dispute cases requiring a resolution from the consumer authority.
In 2022, Kamux sold a total of 44,298 used cars in Finland (48,660). A total of 64 (68) cases, or 0.1% of sales, led to a consumer dispute procedure. The number of cases leading to consumer dispute procedure remained at the previous year’s level. The decision of the Consumer Disputes Board was in favor of the proposal made by Kamux to the customer in 48% of the cases. Decisions recommending rectification constituted 0.07% of cars sold in Finland.
In Sweden, Kamux sold a total of 13,739 (14,361) cars, of which a total of 74 (62) disputes between Kamux and the consumer ended up in a process with the local consumer authority, Allmänna reklamationsnämnden (ARN). 60.8% of its decisions supported the proposal given by Kamux to the customer. Decisions recommending rectification constituted 0.13% of cars sold.
In Germany, Kamux sold 4,885 (5,408) cars in total, of which 14 (17) disputes were settled in court. Of these cases, 2 led to a decision in favor of the customer and 5 were concluded with a compromise decision.
Seamless omnichannel customer experience
First-class omnichannel customer experience has a central role in Kamux’s operating model. Most consumers examine the selection in digital channels before visiting a showroom or booking a test drive. Kamux aims to make its service as reliable, transparent, easy, and smooth as possible. In addition, we aim for a customer experience that encourages recommendation.
We continuously develop our customer service channels to meet customers’ needs. Our chat service also serves outside the showroom opening hours. We want to offer a best-in-class customer experience in used car retail anytime and anywhere, regardless of the channel.
We monitor our success in customer service situations actively and aim to develop our operations based on the feedback that we receive. In 2022, we received an overall score of 4.0/5 (3.8). Our target level is an overall score above 4.
We build a culture of trust and openness
Kamux builds trustworthy operating models and an open operating culture in used car retail. We want to create a safe and comfortable environment in which our personnel can work and develop their skills. In 2022, we strengthened our organization and recruited a head of safety, whose responsibilities include monitoring the consistency of ways of working and the realization of the Code of Conduct in our operating countries, among other things.
The company has a whistleblowing channel through which our employees and external stakeholders can anonymously report any suspected or detected actions or ways of working that violate the Code of Conduct. In 2022, we received one report through the whistleblowing channel.
Economic well-being in society
We create value for Kamux’s shareholders and society at large through long-term efforts. In line with our growth strategy, we target strong and continuous growth and improved profitability.
In 2022, our tax footprint increased compared to the previous year. This was mainly due to a schedule change in the processing of car taxes and a significant part of the taxes on cars Kamux imported was transferred from 2021 to 2022. Our tax footprint was EUR 74.8 million (67.1) in total. The most significant items related to tax payments were the car taxes as well as marginal and VAT taxes paid. We paid a total of EUR 7.5 million (5.5) of income tax.
Kamux’s remuneration model is equal and motivating, and the remuneration of, for example, the sourcing and showroom personnel consists of a basic salary and a performance-based pay. In 2022, we updated the remuneration of our sourcing and showroom personnel to make it more motivating. The principles of compensation are transparent, and the salary model for salespeople is based on the same principles in all Kamux’s operating countries.
We paid a total of EUR 38 million in salaries in 2022. The amount of salaries paid decreased 1.8% compared to the previous year, while the Group’s revenue increased by 3.3% in the financial year 2022.