As we move from autumn to winter the used market is becoming more seasonal following three and a half years where everything was impacted by restricted new car supply. In the winter that normally means the market slows down pre-Xmas and then speeds up again in January.
We are seeing more used cars entering the market and our country manager Miguel Vassalo reckons new and used car supplies have returned to normal in Portugal.
In his interview he also also tells us how the Portuguese use car market has become more sophisticated and how multiple buyers and sellers are now using our INDICATA used car data to help them make more strategic buying and selling decisions.
Growth in online remarketing
Our MarketPlace online wholesale platform is also reporting a 30% + growth in 2023 as we are selling more cars that come into the market from dealers, fleets and even for the first time in a while rental companies.
In this newsletter we are also celebrating being presented with the EY Entrepreneur of the Year™ Regional prize for Funen 2023. This is the third year in a row that the award has gone to Autorola which celebrates individuals and companies that demonstrate vision, leadership and success. We look forward to attending the Danish national finals later in November.
Meanwhile, INDICATA keeps going from strength to strength as more remarketing professionals follow those in Portugal by using data to help them make the best decisions regarding used car prices and stock levels.
Tracking used BEV trends
We focus on the different used car trends across Europe, which includes an all-important update on used BEVs. Although they still only account for a small market share 99% of the conversations with our customers are around BEVs and their performance in the used market. Let’s keep the discussion going as we track more than 10m used BEV prices across Europe each day so can share the very latest trends with you all.
Our activity in the Middle Eastern countries goes from strength to strength following our partnership agreement with Al-Futtaim Automotive signed in January. Our Autorola Solutions team have reported back on their recent visit to Automechanika Dubai – the world’s largest automotive aftermarket trade show where we had some great conversations with remarketing professionals in the region. We look forward to continuing to grow our presence in the Middle East.
We hope you enjoy our newsletter.
Peter Grøftehauge (LinkedIn)