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Gruner & Jahr buys half of used-cars Web service

Published on .

HAMBURG--German publisher of consumer titles Gruner & Jahr has acquired 50% of the second-hand car Internet service Faircar Online Services, a subsidiary of Dekra Holding, Stuttgart.

Launched a year ago, Dekra claims more than 1,110 car dealers use its service with more than 45,000 cars on offer.

The joint-venture partners plan to expand the service and raise the number of cars available online to 200,000.

Sales are predicted to rise from $1.4 million to $27 million in the next five years.

Copyright September 1999, Crain Communications Inc.

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