In the summer of 2022 Autorola’s B2B online remarketing platform was onboarded by BMW Group, opening up an additional remarketing channel for their national sales companies, Alphabet Fleet Management and BMW Group Financial Services to sell used stock cross-border. The aim is to optimise used car values by selling vehicles in countries where there is known to be the highest demand.
Currently BMW and MINI dealers in 16 countries can buy used cars on the platform. Recently added countries include Switzerland, Czech Republic and Romania.
BMW’s national sales companies, Alphabet Fleet Management and BMW Financial Services can upload their ex-lease, rental, and company cars onto the closed Marketplace European platform to provide franchised BMW and MINI dealers with access to their used car stock. Everything is focussed on keeping used cars within the BMW Group network.
In addition, the platform manages the vehicle inspection process and displays vehicle descriptions and imagery in a consistent style, standardising the presentation of vehicles inspected by multiple companies and different types of inspection software. Autorola Marketplace’s platform is also multi-lingual, ensuring a user-friendly interface, to make it easy for as many dealers as possible to engage in cross-border buying.
VAT and luxury taxes are another challenge that Autorola manages efficiently, having been at the forefront of cross-border used vehicle trading for two decades. The VAT and tax element of each transaction is managed in the individual Autorola countries with colleagues assigned to manage the paperwork fast and efficiently.
Centralised vehicle logistics
Vehicle logistics is another area where Autorola’s experience comes into its own for the fast and efficient collection and delivery of vehicles.
All vehicle logistics are managed centrally by a team in Denmark, who plan the fast and efficient vehicle collection and delivery, from country to country. By centralising this key role, the logistics team are continually focussed on filling trucks with used cars to make the cross-border deliveries as cost efficient as possible.
INDICATA powers all the data insights such as the export index, which values individual cars in individual countries, while Autorola Solutions Fleet Monitor workflow management system pulls all aspects of the service together in a single place.
Export index launched
“Our platform has been very well received. We have developed an export index for sellers to make it easier for them to decide which used cars to export to receive better prices outside their home market.
“If you have a lot of similar cars coming back from a lease contract, then export is a strong option. It enables vendors to spread the risk across different markets to avoid saturation, at the same time optimising values model by model.
“It enables unwanted, repeat, or overage stock to be made available within the confines of the BMW family, thus matching up supply and demand.
“The majority of stock coming onto the platform is between three and 12 months of age. Franchised dealer networks want younger used cars as there has been a shortage over the past three years due to Covid-induced vehicle production challenges. The same concept will also work well for older used cars,” said Morten.
One in three used cars are exported
Typically, Autorola is seeing 30% of all used cars it sells in Europe as cross-border transactions and that figure has remained consistent for a long period of time. It has been the main driver for helping companies adopt an efficient cross border used car policy as a seamless part of their overall remarketing strategy.
Seamlessly working together
“For the Autorola Group it has been very exciting to see the power of our three business units working seamlessly together – the online Marketplace remarketing platform, INDICATA’s real time used car pricing data and Autorola Solution’s Fleet Monitor asset management platform.
“It has shown how powerful the three units are when they are brought together and is how we aim to sell our business proposition in the future. A modern remarketing strategy involves used vehicles being sold online, while asset owners need access to data insights to ensure they make strong strategic decisions both at a micro and macro level.
“The power of Fleet Monitor means everything is managed in real-time from a vehicle order to disposal. The workflow technology remains a unique proposition for our group,” he added.
“The first 12 months of the BMW contract has been very productive and has put the group in good shape just as used volumes show signs of increasing across Europe. BMW Group is in a great position to manage those used cars, which aren’t going to stay in their individual countries, more effectively. Over the next three years of the contract, we will constantly develop the platform based on BMW feedback, to further optimise its cross-border remarketing.