Happy New Year from across the global Autorola Group’s 19 subsidiaries, we hope January has started well and we can help your business grow and thrive during 2020.
The European remarketing industry goes straight into the ENG remarketing summit in Berlin on the 22 and 23 of January.
ENG Remarketing Summit
Autorola has attended the summit for over a decade and this year our directors Morten Holmsten and Andy Shields and the rest of the team will be in attendance.
Our speaking slot gives us a chance to share our views on the market and this year we have focussed on encouraging dealers to put more faith in using data instead of instincts or habits to make their used car business decisions.
We look forward to seeing you in Berlin.
Helping Glyn Hopkin halve stocking days
In this newsletter one of our valued customers Glyn Hopkin, a large dealer group with 35 dealers and 13 franchises in the UK shares with us why INDICATA is now such a major part of its used car business.
In just three months INDICATA has helped them halve their used car stocking days as well as helping them become more strategic about their pricing. Sometimes they are changing prices weekly to remain competitive in the fast-moving UK used car market. Please let us know how we can help transform your used car business.
Peter
NEWS
Introduction from CEO & Founder, Peter Grøftehauge
Autorola Group sponsors ENG remarketing summit in Berlin
The Autorola Group is once again a Gold Sponsor of the ENG remarketing summit on the 22-23 of January in Berlin.
Global MarketPlace director Morten Holmsten and Andy Shields, INDICATA’s business unit director will be speaking at the conference.
Helping dealers use data to make better used car decisions
This year they will discuss how dealers can use data instead of instincts or habits to make their used car businesses more profitable and more efficient.
Thousands of dealers are now using INDICATA, Europe’s leading used car pricing tool to help them buy and stock the right used cars
at the right price.
Other dealers are using it to identify the best export markets for diesel cars when demand is limited in their home country working alongside our MarketPlace remarketing platform. Taking Europe as one market we will discuss how dealers can use data to find the right buyers for their stock.
Autorola will also have a booth at the summit across both days so there is an open invitation for those attending to come over for a chat.
We look forward to seeing you in Berlin.
INDICATA halves stocking days for one of the UK’s largest dealer groups
One the UK’s largest dealer groups has halved its used car stocking days within the first three months of adoption of INDICATA, Europe’s leading online used vehicle pricing platform.
Glyn Hopkin, which operates 35 dealers and 13 franchises will now use INDICATA across its group as an integral part of its pricing strategy to sell more used vehicles after it was successfully piloted within its Honda franchise and then across its Nissan dealer business.
Within just a few weeks of introducing INDICATA dealers experienced a rapid rise in used car enquiries and dramatically improved stock turn. Sales across its Nissan dealers ‘went through the roof’ according to Fraser Cohen, managing director of Glyn Hopkin.
Halving stocking days
He said, “INDICATA has driven massive improvements across all areas of our used business by focusing initially on ageing stock and then by introducing pricing parameters on models in group stock the team has halved stocking days in the first three months.
“We have become more strategic with our pricing as INDICATA gives us a live barometer of a used car’s value in the marketplace. We now change prices on some models two or three times a week to ensure we remain competitive within the fast-moving market.”
Group policy to use INDICATA
The group has embraced the platform from the top down with the board, brand directors, business managers and sales managers all attending a three-hour familiarisation session supported by the UK INDICATA team.
It is now group policy to use INDICATA when pricing part exchanges to provide a live insight into the current price of the used car as it sits at the dealership, which benefits the dealer and consumer. Typically group stock stands at an average 2,500 vehicles.
Glyn Hopkin also uses the platform when offered bulk purchase deals by the OEMs. Cars are run through the system first to determine a market price against sale prices and demand of nearly new stock. It ensures the group buys bulk stock at the right price.
Empowering sales managers to grow used cars
The announcement comes at a time when Glyn Hopkin has begun to sell used cars online.
“We are empowering sales managers to grow our used car business now they have INDICATA at their fingertips.
“Our group has already achieved some excellent results for our used car business as we look to build our annual sales beyond 14,000 used cars. INDICATA has helped the group build a new strategy and with the entire business using the platform daily we are well placed to grow volumes and profitability of our used car business,” he added.
