2. Mr. Richard Pettersen
Managing Director – CEO and Head of Arbitrage
Mr. Pettersen founded EncoreAuto SA, Luxembourg, in 2018, with a structured plan on how to
encounter some of the larger import/exportVAT problems that are occurring within the EU and
its surroundings countries.
Richard Pettersen
This way Encore Autos SA as a trading vehicle, will be set to enter into the already existing
arbitrage market that today occurs in the Pan European region to accommodate both the
widespread recession that caused new car sales to plummet in 2009-2011, to where now the
economies are growing, and demand for used cars is outweighing supply, as well arbitraging on
the newly enforced emission legislations to improve air quality.
3. The newly enforced emission legislations sets off a huge rise in cross
border sales.A reducing demand for diesels and a major shortage in used
cars in some countries are leading to more arbitrage, not only between
countries, but also continents.
Encore Autos SA overviews and follows the industry and sees the ever-
changing supply and demand for both new and used cars.
4. Prior to founding Encore Autos SA, Mr. Pettersen led P Asset Management GmbH
(2013- ), out of Frankfurt and Hamburg,Germany, a company that he still leads &
chairs and utilizes for “selective cars”.
From 2006 to 2013 Mr. Pettersen had his own consultancy company and has been
engaged in “management for hire” for several companies providing assets (jack-
up rigs, accommodation rigs and offshore supply vessels) to the oil and gas
industry. In all his assignments Mr. Pettersen has been engaged for marketing the
assets worldwide and also engaged in financing the assets.
5. Mr. Pettersen worked as a stock broker in First Securities, one of the largest stock
broker companies in Norway from 2005 to 2006, dealing with stocks in Norway,
Sweden and USA.
Prior to joining First Securities Mr. Pettersen held several positions within import,
export, sales and marketing in several companies, working both internationally
and in Norway. Among these positions, he was Area Sales Manager for 2 years,
Marine Division in Scanvaegt International,Aarhus Denmark, with responsibility
for 31 countries.
6. Mr. Pettersen holds a degree in marketing.
Mr. Pettersen is a Norwegian citizen and resides both in Germany and
Luxembourg.
