NEWS

Introduction from CEO & Founder, Peter Grøftehauge

Sep 17, 2019   written by Autorola

It’s been an interesting summer with the demand for used cars growing by 8.2% to the end of July in the five major European car markets. Dealers continue to report higher used car margins than new car sales which have fallen in nine out of the 10 months to June.
The used car growth coincides with more used cars coming back into the market from finance contracts following strong global new car sales during 2016.

Record export numbers processed on our online portal
We have seen record numbers of used cars offered and sold via our online portal and in particular cross border sales continue to grow as we help balance used car supply and demand across Europe. Used car demand remains strong in Portugal and Spain, while other countries are using Autorola to help export used diesel cars that have fallen in popularity such as Germany and Belgium.
Our newsletter highlights the role Autorola plays in cross border export sales from a vendor perspective and have spoken to our country managers in France and Holland how export works practically for customers. We are very proud of how we bring buyers and vendors together through our online portal and look forward to supporting new vendors who are considering or who have recently adopted a pan European remarketing strategy.

INDICATA powering real time used car insights

We feature stories in our newsletter on used car market insights powered by data from our INDICATA portal.
We have received positive feedback on these articles in past newsletters as they are providing vendors with valuable used car sales and supply data to support key remarketing decisions. Let us know if there are other insights article that we can provide you with in future newsletters.

INDICATA values vehicle assets during life cycle
Asset managers are responding very positively now that we have integrated INDICATA with our Fleet Monitor asset management platform. They can gain insights into the real time values of their vehicle portfolio during different stages of an asset’s life cycle.
For leasing companies, banks, finance companies and any business that owns their fleet this is a huge step in understanding their fleet risk. With recent challenges with used diesels and in some countries where used prices are falling it gives asset managers peace of mind how much their fleet is worth against written down values.

Big Data adding value to fleets
We have spoken before about Big Data and this is a great example of how it is adding value to our customers. We look forward to working with fleets to roll out this integrated asset management and valuation solution.
As we enter Autumn, so the challenges of ever-changing used car values continue to make our lives very interesting, now with the added complexity of more hybrids and electric cars hitting the used market. We plan to provide you with insights into the used EV market in our next newsletter.

Best regards Peter

Click here to get back to all News

Autorola makes it easy for buyers to purchase used cars cross border says Pierre Emmanuel Beau, director of Autorola France.

Sep 17, 2019   written by Autorola


Export buyers purchase up to two thirds of all used cars sold by Autorola France, with 40% of their volume currently heading for Portugal and Spain to accommodate used car shortages in both countries.
At the heart of the French export success story is the service it offers to buyers. The French team speak 11 languages. They are available on the phone or email to answer buyer questions in their own language which further adds to the trust of buying from the Autorola online auction platform.

Autorola manages a shared buyer network across Europe
Autorola has a shared network of used buyers across Europe with notes of the types of used vehicles they want to buy. Pierre and his team match those buyers with vendor clients that they know have an export stock profile.
Different countries want different types of cars with buyers having access to tens of thousands used cars each week through the Autorola online portal. Buyers simply log on, bid and buy, and transport can also be arranged if required.

Export cars are listed net of Vat and local taxes
Prices are listed for each car net of local VAT and taxes so buyers always know the exact price they will have to pay for export vehicles.
“Vendors have the peace of mind that all our buyers have been vetted by us before they can buy cars. Many buyers have been working with Autorola for many years, so the trust has been built up over time.
“This is how we set the online auction benchmark, by putting everything in place to gain buyer trust encouraging them to bid and buy a used car remotely. On the odd occasion there is a problem the buyer knows we will do our best to sort it out quickly and efficiently which suits both buyer and vendor,” said Pierre.

Click here to get back to all News

Integrated systems are providing vehicle asset managers with critical, real time market insights says INDICATA’s Jurgen Claus.

Sep 17, 2019   written by Autorola


The combination of Fleet Monitor and INDICATA is adding a new dimension to vehicle fleet asset managers ability to maximise portfolio values via enhanced sales, risk management and remarketing insights.

Workflow monitoring tool, Fleet Monitor in combination with data driven market insights tool, INDICATA, enables vehicle asset managers to take a pro-active approach to understanding the real-time value of their vehicle portfolio, constantly screening for business opportunities and providing immediate decision-making capabilities.

Changing the way asset managers value portfolios
Traditionally, vehicle asset managers have valued their assets using historic data rather than actual market prices. This ‘reactive’ approach often results in asset portfolios being misaligned with widening used vehicle value gaps, often only evident at the end of a vehicle contract. This creates a major challenge for asset managers. However, by using the Fleet Monitor/INDICATA system, vehicle fleet owners add a dynamic monitoring tool to the instruments of portfolio management.

With individual vehicle details uploaded into the Fleet Monitor system, INDICATA integrates within the system to allow asset managers to truly understand the value of any given vehicle at every stage of its life cycle.

Tailor to meet specific requirements and risk parameters
Asset managers can tailor the system to meet specific requirements and risk parameters to ensure management of the entire vehicle portfolio is by exception and not rule – helping to ensure focus is prioritised on vehicles which match the ‘risk’ criteria.

On fleets of any scale but specifically those larger fleets, this specifying of risk criteria ensures enhanced efficiencies and clear visibility of pending, current and future challenges and opportunities. Examples of customised gateways include low or high market days supply or higher/lower book value than wholesale and can be incorporated at any stage of the vehicle life cycle from arrivals, handover to drivers, returns, inspections and sales.

Constant screening helping to detect risks
Jurgen Claus, international business development manager, Autorola Group who is working with organisations across the globe to leverage the true benefits of the system, said, ‘Constant screening of a portfolio can not only detect risk – or risk tendencies – in the early stages but it can also give you an insight in cluster risk such as percentage of petrol Vs diesel on your fleet or gearbox variants that are no longer in fashion etc.’

Jurgen continued, ‘From a sales perspective, the tool also allows users to detect sales opportunities. Leasing and financing companies can detect those vehicles that are less prone to variable market trends which are ‘in the market’. Potentially, these could be presented to drivers as a new alternative, increasing the car sales rotation and, at the same time, providing the used car market with high quality late and low stock.’

Powering the potential for global asset management
Another key aspect of the integrated system relates to end of contract and determining the most suitable and cost-effective route of disposal. In ’normal’ portfolio management the end of contract process starts at 180 days before the contract expires.

Based on the data Autorola collects daily across Europe, it can advise every fleet owner where in the world to sell the end-of-contract-cars to gain the best price and that may mean exporting the cars. This decision is based on Autorola’s cross border used vehicle expertise as well as actual market prices which show true supply and demand in individual markets.

Jurgen explained, ‘Not only is this functionality less time consuming for asset managers to consider and decide on their routes for disposal, but it also helps to optimise the resale value of the vehicle and any difference with the book value of the car.’

The introduction of INDICATA integrated into Fleet Monitor is the newest addition to Autorola’s range of enterprise solutions, where business units and product modules join forces to provide premium business propositions.



For more information, please contact Jurgen Claus, International Business Development Manager, Phone: 0032 (0)3/887 19 00, Mobile: 0032 (0)473 96 41 09, Email: jcl@autorola.be

Click here to get back to all News

Michael Bernsen, remarketing manager of Alphabet the Netherlands says Autorola the Netherlands is a trusted partner for cross border used car sales.

Sep 17, 2019   written by Autorola

As one of the leading European leasing companies we expect high quality service from our providers and that is what we get from Autorola, Michael Bernsen, remarketing manager of Alphabet the Netherlands, says and continues; around 35% of our used cars are exported so online auctions are a key part of our remarketing strategy. The Autorola platform hosts our open online auction four times a week in real time which allows all interested buyers to bid on our cars. Images and condition reports on each vehicle are downloaded from our appraisal system so they are presented for sale to a high standard.

Export channels ensure best practices and prices
Net VAT and net luxury tax figures are generated by the Autorola platform to make life easier for export buyers to understand the actual price they are paying for a car. Opening up our used cars to export buyers ensures we get the best price for each one we sell.
Autorola helps reduce our risk as they work with registered buyer partners in each country and we receive payment for our cars very quickly. They manage all the administration around export which makes it a very efficient channel for our team.

Helping prepare for the future
If we need access to remarketing trends to share with my colleagues Autorola provides us with data very quickly. Autorola is a proactive business partner and is constantly looking to help vendors prepare for future remarketing challenges.

Click here to get back to all News

Autorola provides peace of mind for European vendors exporting used cars says Frank Tanke, country manager of the Netherlands.

Sep 17, 2019   written by Autorola


Autorola’s online portal is at the heart of balancing the used car supply across Europe through export. The group helps vendors through the process of exporting used cars and with active buyers in 31 European countries has a long track record in managing all aspects of cross border challenges such as logistics, different currencies, unknown foreign taxes and VAT.

Helping buyers source diesel cars
Recently used diesel cars have had a tough time in some countries and the Autorola platform has played a major part in stock being purchased by buyers in countries where diesel demand is strong.
Fifty per cent of all used cars on the Dutch Autorola online platform are exported, with one third of all those going to Portugal. Portugese dealers are short of stock caused by a shortfall of new car sales in 2016 and a rise in demand for used cars fuelled by an economic recovery. Autorola the Netherlands exports cars to a total of 27 different countries.

Supporting decision making process
But before used cars are sold online, Autorola can help vendors in the decision-making process as well. Using real time European INDICATA data vendors can identify which markets are relevant and where prices are good. This proactive approach ensures vendors receive the best price for their used stock.
Autorola’s combination of using international network of buyers with having access to real time market data is what gives Autorola’s cross border remarketing proposition peace of mind for both vendors and buyers.



For further information contact Frank on M +31 (0)6 86815250 E ft@autorola.nl


Click here to get back to all News

Introduction from Autorola CEO & Founder, Peter Grøftehauge

Jun 24, 2019   written by Autorola

Hello and welcome to our latest edition of the Autorola Group newsletter.

This newsletter follows soon after our annual country managers meeting which this year was held in the beautiful city of Istanbul, Turkey. The annual event serves as both a strategy workshop to align future business expectations and goals, and as a social gathering that unites the local countries with the Autorola Group spirit.


As in previous years, the event proved to be another great success and I would like to personally thank those who attended for sharing fascinating insights into their respective markets, as well as sharing best practice from across the globe.

This ‘togetherness’ is what makes Autorola Group the respected and successful business it is today – and for that I would like to extend my thanks to our entire global workforce.


Pertinent reminder

Hosting the meeting in Istanbul proved a pertinent reminder as to the challenges and opportunities impacting on the automotive sector. With the weakening of the Turkish lira against the dollar and euro; decreasing growth rates; rising unemployment rates; and high inflation figures the Turkish economy is facing challenge and with it comes implications for the automotive sector.


However, this ‘negative’ impact also providing opportunity within the used car market especially for Autorola Group and the many businesses we support. With our agile and innovative approach to business, combined with our inhouse expertise and advanced technology, we pro-actively aim to provide the necessary solutions to our business partners across the world – the integration of Fleet Monitor and INDICATA (details within this newsletter) being a prime example of that.


I very much hope you enjoy this edition of the Autorola Group newsletter and all the market intelligence, data insights and product information it brings.

Regards Peter


Click here to get back to all News

Autorola Solutions digitises car dealer consolidation in Germany

Jun 17, 2019   written by Autorola


As dealer groups around Europe consolidate, so the challenges of integrating multi-franchise, multi-site operations continue to grow.

Autorola Germany sees the biggest challenge of consolidation is joining together computer systems, which are specified by the vehicle manufacturer as part of the dealer franchising agreement. A single dealer group may be running seven to eight different IT systems and partial solutions across several different franchises.

For many dealer groups, the benefits of buying a business and integrating into their own network is huge. However, immediate economies of scale can be limited as different IT infrastructures from OEMs do not integrate with one another. There can even be challenges in joining data with other dealers in the same network.

Dealers face challenges when buying a new business

“Merging balance sheets is usually a simple process but everything else is determined by the complexity of each system specified by the OEM. There is no Europe-wide acceptance of a single dealer management system (DMS), so a dealer group is faced with challenges once they have acquired a new business,” explained Andreas Kunkat, sales director, Autorola Solutions.

“Used cars is one major problem area. Thanks to online sales the market has grown rapidly, and prices are extremely volatile. A dealer group may have hundreds or even thousands of used cars in stock across its business but, generally, managing stocking days and the lead times to buy, as well as  preparation and sales is reactive.”

Autorola Solutions helps provide one point of reference for used car stock management

Andreas continued, “There is usually no one digital point of reference where a group used car manager can oversee the status of each vehicle and make proactive decisions. That is where Solutions, with our Fleet Monitor suite, is providing a valuable IT tool for dealer groups, manufacturers and leasing companies in Germany.”

Solutions’ asset management platform digitally and intelligently connects all the dealer’s group data, from purchasing and supply, to used cars and human resources. It is completely modular and can be configured and customised by the individual requirements within the existing IT-architecture.

“We integrate systems and software that are in place – or have to be there – and add what is missing such as interfaces, data transfers or automated order modules,” explained Andreas.

Autorola Solutions efficiencies drives greater profitability

Autorola Solutions enables dealers to proactively make decisions across a multi-franchise business enabling a business to benefit from the economies of scale associated with acquisition much sooner, whatever OEM franchises they own. When profitability, in typical dealer group operations, is just three to four per cent then these efficiencies are vital to give the shareholder a return on their investment.

Andreas said, “When we work with a client we are able quickly to transfer a dealer’s group vehicle assets into our Fleet Monitor asset management system, so they can see the status of every single vehicle from its new car production status to where it sits within the remarketing pipeline. We intelligently connect all business processes. Defined KPIs are easily controlled and analysed to reduce the overall lead-time per car.”

INDICATA market insights help reduce stocking days

“The recent integration of our INDICATA real time, used vehicle market insights platform with Fleet Monitor further supports the dealers’ ability to price used vehicles competitively within their local market, as well as ensure they only buy new stock they know is in high demand. The integration of INDICATA in Autorola Solutions enables automated pricing based on defined strategies per car type, segment, popularity etc. It significantly optimises used car profitability and reduces additional stock days based on pricing away from market,” added Andreas.

Autorola Solutions is already proving a major benefit to Santander Consumer Bank Germany across its group repossessions. Major dealership groups in Germany are about to implement Fleet Monitor to reduce their overall lead-time. OEMs and leasing companies are now talking to Autorola as they are beginning to understand what benefits the innovative and integrative solution could contribute to their overall strategy of digitalisation.

Digitising workflow processes helps achieve the optimum cost structure

“Autorola Solutions has no direct competitors. No system has the power and flexibility to manage automotive business’ overall process within an existing IT-Infrastructure by integrating the existing systems and customising the monitor based on the customer´s individual requirements,” said Andreas.

He continued, “Most of the other workflow solutions require an adaption to the provider´s process and logics, and often just focus on one or a few parts from the overall process. Dealer groups, leasing companies and OEMs are calling us to help them to implement their overall digitalisation strategy. They know that only by integrating and digitalising the complete process the pledge of exponential growth – or working at the required speed with the optimum cost structure – can be achieved.”


For further information contact Andreas Kunkat  I   Sales Director Germany   I    AUTOROLA Solutions  phone: +49 (0)40/180 370 25      mobile: +49 (0)151 – 40 2660 -18   e-Mail:  akt@autorola.de


Click here to get back to all News

Autorola Solutions introduces online used car trade in concept to support dealers

Jun 17, 2019   written by Autorola

Autorola Solutions introduces online used car trade in concept to support dealers

Autorola Solutions is supporting dealers ‘full service’ ambitions with the introduction of its trade-in concept that enables them to provide fast and convenient disposal service for its customers.

The new trade-in concept provides dealers a ‘full service’ platform to help their customers dispose of and buy a new vehicle by providing an accurate, fair and guaranteed purchase price for any vehicle within 30 minutes of notification.

Combining business units into one structured process

The concept combines Autorola Group’s three business units – Solutions, INDICATA and Marketplace – into one structured process to benefit the most from the synergies of the Autorola product suite. For the dealer, the trade in concept provides obvious benefits as it streamlines the full workflow in dealing with trade-in vehicles and unifies the separate steps in the process in one system. It provides both the tools for inspecting the vehicle and gaining an accurate market value, and then glues the full process together from notification through to actual trade-in when the vehicle is on stock in one seamless experience.

For the customer this means easy and hassle-free disposal of their vehicle with instant purchase power to invest in a new vehicle.

INDICATA at the heart of used vehicle valuation

INDICATA is at the heart of the used vehicle valuation as it provides a true, live market value for dealers to base initial part exchange buying decisions on. Dealers decide the margin required whilst, at the same time, scouting competitors’ market prices as a benchmark. This all contributes towards creating the most effective insight on every individual used vehicle and supports dealers’ decision-making process in a reliable and swift way.

The fast and convenient online trade-in platform helps minimise lead times, increasing customer satisfaction within a ‘lean’ process framework. It also helps to eliminate in-house process operations and subsequent time delays.

Secure end-to-end process with direct access to VIN look up

The system provides a secure end-to-end process with direct access to VIN look up, offering full vehicle details and descriptions for speedy decision making and turnaround. The platform also enables managed and shared dealer access to any vehicle already valued within the system to help prevent any crossover between associated dealers, with users able to monitor individual and group dealer performance.

Secure access to the system also offers users the ability to track specific used vehicles, allowing adjustments and improvements across all steps within the process to optimise conversion rates. It also means key performance indicators can be managed from the very outset of any vehicle remarketing process.

The trade-in tool is quick and easy to activate, allowing users to set-up according to their own preferences and working practices. The system can be customised with any combination of modules and integrations, allowing users to do business their own way.


For further information contact  Ib Kimose, Global Director, Autorola Solution, Mobile:  +45 61629916, E-mail:   iki@autorola.com


Click here to get back to all News

Fleet Monitor and INDICATA integrate to cover full life cycle

Jun 24, 2019   written by Autorola

Autorola Solutions has added another powerful tool to its product suite with the integration of Fleet Monitor and INDICATA.

The introduction of INDICATA integrated into Fleet Monitor is the newest addition to Autorola’s range of enterprise solutions, where business units and product modules join forces to provide premium business propositions. The combination adds value to the whole organisation (cross department) and has an impact on the full customer and contract life cycle.

By using the Fleet Monitor/INDICATA, fleet owners add a dynamic monitoring tool to the instruments of portfolio management. This can be leveraged across departments inclduing sales, risk and remarketing. As everything is monitored and tracked constantly, it is also provides a sound basis for compliance purposes.

Constantly screened for business opportunities

By setting off the current market value against the outstanding book value, the portfolio is constantly screened for business opportunities. Customers with ‘equity’ (meaning outstanding lease amount is less than the market value) in their car are more open for new business opportunities and for the same amount or even lower, they can drive the latest version of a car or even have an upgrade to align with changing personal life situation. The integration provides a real-time sales opportunity for this level of portfolio management.

Detecting risk at an early stage

Fleet owners should always question their portfolio. Constant screening of a portfolio can not only detect risk (or risk tendencies) in an early stage but it can also give you an insight in cluster risk (ie percentage of petrol Vs diesel, gearboxes variants etc).  

Outstanding book values higher than a threshold percentage below market value need special attention.   With this basic rule, even very large portfolios can be managed easily as the focus is only put on the contract which needs special attention. As the integrated system only focuses on the files ‘at risk’, this significantly reduces the future (additional) depreciations and losses on the cars.

First indication of end of contract

In ’normal’ portfolio management the end of contract process starts at 180 days before the contract expiring. The combination of Fleet Monitor/INDICATA gives the fleet owner a first indication about the end of contract value/trend of the car. Based on this info, the fleet owner can suggest to the customer to either extend or shorten the contract.

If the contract is inline with market expectations, the next step for the fleet owner is to start the real remarketing process. Based on the data Autorola collects daily across Europe, it can advise every fleet owner where to sell the end-of-contract-cars.

Due to the GEO-pricing tool, built within Fleet Monitor, the fleet owner has a perfect overview in which European country the car is highly desired and gets the best price. Autorola also has the ability to arrange this.

 

Overall, the combination of Fleet Monitor and INDICATA adds another dimension to sales, risk management and remarketing, helping to maximise portfolio value in every sense of the word. 


For more information, please contact Jurgen Claus, International Business Development Manager, Phone: 0032 (0)3/887 19 00, Mobile: 0032 (0)473 96 41 09, Email:  jcl@autorola.be


Click here to get back to all News

Country Managers meet in Istanbul 2019

Jun 17, 2019   written by Autorola

Autorola Group’s annual country manager meeting was held in Istanbul, Turkey on 13-15 June – highlighting a local automotive market equal in both challenge and opportunity.

The annual event serves as both a strategy workshop to align future expectations and goals, and as a social gathering that unites the local countries with the Autorola Group spirit.

A strong heritage within automotive

The culture in Autorola Group is founded on a strong heritage within automotive that stems from the founders of the company when back in 1995 the first ideas and visions for the company were born. Alongside the solid backbone in automotive, the company has always focused on the online nature of the business and digitalisation of the industry by developing innovative solutions in a widespread IT landscape. This both serves as the beacon for the company, as well as the platform that allows the company to act globally.

The annual meeting reinforces the belief of ‘think global, act local’ because although each country manager is responsible for driving business in their own territory, in a global marketplace no business stands alone – key when the culture of Autorola supports cross border initiatives and synergies.

Turkish market challenging but presenting opportunity

Held in Istanbul, the event also served to highlight how the Turkish automotive market is proving both equal in challenge and opportunity.

According to Aslı GÖKER, sales director, INDICATA Turkey, ‘At present within Turkey’s economy, there is a weakening of the Turkish lira against the dollar and euro; decreasing growth rates; rising unemployment rates; and high inflation figures. These economic indicators have affected all sectors negatively, including the automotive sector.’

However, this ‘negative’ impact is also providing opportunity within the used car market especially for Autorola Group.

Asli explained, ‘With the reducing sales figures in the new car market, the focus has shifted to the used car market by OEMs and authorised dealers, and the necessity of online presence and digitalisation has been realised. We think that the services we provide will become more important for the sector.’




Find us here: http://www.autorolagroup.com/contact/

 

Click here to get back to all News