NEWS

Introduction from Autorola CEO & Founder, Peter Grøftehauge

Apr 17, 2019   written by Maria Lee Winther

This newsletter highlights various new initiatives we have recently bought to market in order to satisfy the demands of an ever changing, and diverse, global automotive remarketing industry.

 

As I have said many times before accurate, meaningful, real-time data is the key in ensuring success within the remarketing sector. Therefore, we are delighted to announce the combining of our Fleet Monitor asset workflow management system with INDICATA, our real time used market insights platform. This integration takes used car valuation to the next level, with real time valuations based on actual vehicles from multiple countries, enabling true cross market comparison of vehicle valuations.

As several of the data driven insights featured within this newsletter highlight, the global vehicle remarketing sector continues to be diverse with certain brands, powertrain types and vehicle specifications in more demand than others regionally. Our combined system allows used car asset owners to look at the most profitable country and sales channel to dispose of the different types of used cars on their fleet, ultimately helping optimise profits and reduce stocking days.

This global data and insight also allow us to proactively introduce products and services regionally to satisfy specific market demand, examples of which include Autorola Belgium’s guaranteed takeover bid protocol; car dealers in the Netherlands utilising INDICATA; and Autorola Denmark partnering with Autolease – all of which are highlighted here.

These initiatives are more examples of how listening to our customers, combining it with our global data insights and then proactively providing solutions is core to our philosophy in supporting our business partners.

Regards Peter



Regards Peter


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Autorola Belgium introduces guaranteed purchase price for part exchange cars

Apr 4, 2019   written by Autorola


Autorola Belgium has introduced a new initiative which guarantees its dealers a used price within 30 minutes of the trade-in for a potential buyer’s used vehicle.

The new programme, introduced in Belgium and Luxembourg, provides Autorola dealers with an accurate, guaranteed purchase price. For customers who buy a vehicle which involves delivery time, dealers can also use the new sales tool to assure future values.

Guaranteed price for a customer’s part exchange
Developed using INDICATA software which collects, processes and analyses real-time data from the European used car market, and in combination with Autorola Belgium’s remarketing expertise, the initiative offers dealers a guaranteed bid for the acquisition of the potential’s buyer’s vehicle.

The guaranteed takeover bid protocol assists vehicle remarketers in making prompt buying and selling decisions and benefits both customers and vendors alike via direct valuations and guaranteed takeover bids. It also helps to eliminate inhouse vehicle process operations and subsequent time delays.

Helping dealers sign more orders
Autorola Belgium country manager, Erwin Coesens, said, ‘We see that the number of showroom visits has reduced from 4.5 times in 2008 to 1.3 visits in 2019 as the consumer is much better informed via the internet and knows exactly the car they wish to purchase.

‘For vendors it’s a big challenge to get a signed order in the showroom. In many cases a correct purchase price for the current car is the ‘deal closer’. With the guaranteed takeover bid Autorola Belgium now offers them the ideal tool.’


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INDICATA helps biggest car dealers in the Netherlands to sell more vehicles

Apr 5, 2019   written by Autorola


Car dealers in the Netherlands are enjoying the benefit of using INDICATA real time used market data to guarantee part exchange values for motorists.

Dealer holdings are using INDICATA valuations to support e-marketing trade-in campaigns to attract drivers into the showroom. Over 50% of the Netherlands’ biggest dealers holdings are now using the INDICATA data to sell more (used)cars.

INDICATA values the car based not only on the make, model, age, mileage and condition, but also its current popularity and market supply volumes in the town or local area that it is being used. This enables dealer holdings to really tailor made their trade in proposal for the customer with a market value for their car.

That compares favourably to many online used car pricing websites in the Netherlands that are based on historic used values and average national prices which can be misleading.
“The driver is attracted into the showroom only to be told that their car is worth less than they originally thought which does not create a good customer experience.

“Often the difference between algorithm-based online used car values and our real time trade in values can be thousands of Euros on a higher value car,” explained Bobby Rietveld, sales director of INDICATA Netherlands. He adds. We now even see dealer holdings using our data by adding the Market Days Supply into their Online Trade In modules so the customer automatically receives a trade in price which is based on the combination between trade in price and ratio supply and demand (online vs. sold)

“The conversion ratios of the marketing campaigns of the dealer holdings on both showroom visits and sales has gone up because they are being offered a value based on the real time market data for that specific car. Owners feel happy they are getting an honest deal on their part exchange, which provides a strong foundation with the dealer for their new car purchase.” 

For more information contact Bobby at bri@autorola.nl.


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Autorola Solutions and INDICATA combine to power large scale used car valuations

Apr 9, 2019   written by Autorola


Autorola has combined the power of its Fleet Monitor asset workflow management system with its INDICATA real time used market insights platform to help OEMs, banks, rental and leasing companies understand the true value of their used car portfolio.

This integration takes used car valuation to the next level, with real time valuations based on actual vehicles from multiple countries, enabling true cross market comparison of vehicle valuations. Working in 13 countries INDICATA has six million used cars on it at any one time.

Optimising profits and reducing stocking days
Used car asset owners can use the new system to look at the most profitable country and sales channel to dispose of the different types of used cars on their fleet, ultimately helping optimise profits and reduce stocking days. Trim levels and body types can impact prices from country-to-country and INDICATA will help navigate the best sales strategy for each car.
The possibility of real time data to analyse residual values against market value enables a stronger and more controlled risk management. Solutions and INDICATA combined help deliver that aim to offer value for the whole company as well as to aid compliance.

An exciting development for vendors
“The integration of Solutions and INDICATA provides asset owners with a valuable insight into vehicle values on an enormous scale. It combines the workflow power of Solutions with the big data power of INDICATA which an exciting development for vendors,” explained Ib Kimose, Global Director of Solutions.


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Autorola Denmark discusses its valuable customer partnership with Autolease

Apr 12, 2019   written by Autorola

 

Bilsalg and Autolease colleagues review the inspection and collection customer journey.

Bilsalg Denmark was set up to service the largest Danish leasing fleets around all process regarding to de-fleeting their used vehicles more efficiently. This included initially only the auction process but has since been expanded to everything from vehicle appraisal and inspection to online disposal via Fleet Monitor.

It aims to make life easier for fleets and it has found inspection and appraisal is a vital element in keeping good relationships going with our customer and their driver.

Explaining damage to drivers
“When a driver brings a car to us at the end of the contract we carefully explain to them any damage they have on their car and what that means in end-of-life costs,” explained Thomas Friis Pedersen, Autorola Denmark’s country manager.

“When we deal with a private lease customer our approach is even more important as they don’t always understand the importance of this inspection process. We advise them to remember their spare key and servicing documents to help the process in their favour.

We have worked for Autolease for over 10 years
“Our colleagues receive regular training to ensure we provide the best possible service to all drivers. We have worked for Autolease for over 10 years and they regularly visit our compounds. Our teams work together to achieve the best possible service for the customer.

“Autolease was our first Fleet Monitor customer and we sell several hundred used cars for them each year online. A number of their used cars are exported, and prices are strong. Our use of INDICATA means we work out the true value of their vehicles before disposal.

“We continue to make each other better at what we do which is what a successful business partnership is all about,” he added.

Autolease Denmark’s remarketing manager Anders Kaae comments on the valuable partnership with Autorola Bilsalg.
“Autolease is part of the DNB Bank and provides a complete leasing and fleet management service across Scandinavia. Long before Fleet Monitor was developed, our collaboration with online car auction began. It was a smart way of remarketing and we achieved some good used prices. However, buyers complained about the quality of the vehicle descriptions that we were responsible for at that time, and the solution was that we outsourced the inspection of the cars to Autorola, and this was how we solved this problem.

“Autorola decided it wanted to take the online inventory to the next level, so they could help manage assets more optimally through the complicated processes. Through our two companies working together on the processes involved in managing vehicles across the supply chain the Fleet Monitor asset management system was born. We have been making a valuable partnership ever since.

Autolease uses Fleet Monitor across Scandinavia in different ways
“Autolease runs a leasing fleet of around 38,000 lease vehicles via Fleet Monitor. Autolease Norway and Sweden also use the system, but in slightly different ways compared to Denmark. Online remarketing remains our favourite route to market in Denmark and Sweden. It is efficient and very slick. Buyers are accustomed to buying used cars online and our sales are very successful.

“Our company partnership continues to flourish as we trust each other, and we continually drive each other forward to get better at what we do.”


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Autorola Marketplace director discusses three trends set to change the European automotive sector

Apr 5, 2019   written by Autorola


Morten Holmsten, global director for Autorola Marketplace recently presented his views on disruption within the automotive sector suggesting that although it was difficult to create – upstream used car selling; data driven inventory management; and online consumer sales were clear trends.

In his session – ‘European disruption within the automotive sector’ – organised by the Turkey Authorised Automotive Dealers Association, Morten discussed the trends in the European automotive market and explored the reasons why the market changes so slowly.

Nobody questions whether an online auction works
Morten, who oversees Autorola’s Marketplace business unit across Europe Australia, Brazil and Mexico spoke of how in 2001 Autorola started to disrupt the physical auction market by being the first auction provider to go 100% online with its process. However, it was five years previous that Autorola made the first attempt – ‘an attempt that failed due to technology not being ready’ explained Morten.

He continued, ‘If we were able to say that we succeeded with disruption, there shouldn’t be any physical auctions left in Europe. But there is. We managed though to get a fair market share and we started the movement towards online auctions. Today nobody questions if an online auction works.”

Disruption in the automotive sector is challenging
Morten discussed why disruption in the automotive sector is such a challenge in comparison to other industries which have been greatly impacted by disrupters such as Apple (mobile phones); Airbnb (accommodation); Uber (taxi); and Netflix (movies).

“All three challenged the established players in their respective markets causing some to go out of business whilst others adapted to the rules of the new players,” he said.

Buyers and sellers have a different view on the quality of a used car
Focusing on the automotive sector, Morten said there are many reasons why it was difficult to create real disruption, namely the fact that some very big players own the products along with most of the distribution channels; the products need regular servicing at a designated location; and the actual physical product is expensive to distribute.

He said: “It’s also worth noting that used vehicles are a product where two people – buyer and seller – can have very different opinions on the quality of the same product.”

Data drives Autorola’s decisions about prices and buying markets
Turning his attentions to the European market trends of upstream selling, data driven management and selling vehicles online to consumers, Morten provided more insight into how each was contributing in providing all stakeholders, specifically dealers, with enhanced decision making, cost savings, process efficiencies and overall transparency.

“With more and more digital processes and data, comes new possibilities in how you can benefit. At Autorola all decisions about prices and buying markets is today based on data from the market,’ explained Morten.
“There is no doubt in my mind, the winners in the automotive market, are and will be the dealers who learn to act on data and not intuition or feeling.”

Dealers now generate leads through the online world
Highlighting the specific challenges associated with selling vehicles online, Morten pointed at how the major players all offer services associated with the vehicle sale in the form of delivery, finance, insurance and services.

“But one thing which is very difficult for all of them to solve is how to handle the trade-in car when trying to make a 100% online journey,’ said Morten. “Dealers need to see the online world as a lead generator to create traffic to their physical location.”


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LinkedIn keeps you up-to-date with the latest daily Autorola Group news

Apr 9, 2019   written by Autorola


We are reminding all our valued business partners to keep up-to-date with the latest daily news and information from Autorola Group by following our LinkedIn page LinkedIn Autorola

Join over 2,000 followers to gain insights from across the Autorola Group business units – Marketplace, Solutions and INDICATA – and 19 subsidiaries around the world, that includes news on conferences and events we are involved in as well as new product and service launches and customer case studies.

Read our new European used car market insight reports on LinkedIn
We are also sharing more used insights into the European used car sector which companies are finding extremely useful to help them understand the constantly changing dynamics of the market.

Join us on LinkedIn and join in the conversation that includes remarketing, used car business intelligence and fleet asset management.
LinkedIn Autorola


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Introduction from Autorola CEO & Founder, Peter Grøftehauge

Feb 7, 2019   written by Autorola


Having spoken to many different people at the recent ENG Remarketing conference, discussions typically centred around the many challenges our industry is facing. Finding new homes for used diesel cars after legislation changes designed to improve air quality, and meeting home market demand for used cars were just two frequently discussed issues.

I am a firm believer that the remarketing sector is very resilient, and its supply chain partners are highly innovative in helping asset owners to resolve these challenges.

Our INDICATA real time used vehicle management portal is just one example of the innovative solutions available. It gives you market insights into not only what used cars are in demand in your area, but it also lets dealers know what prices are being charged.

This big data insight is proving highly valuable in helping increase used car sales, reduce stocking days and importantly assist the dealer in buying stock they know is in high demand currently in their territory.

OEMs can quickly use INDICATA to get a network-wide view of used car sales performance and leasing companies can get a real feel for the true value of their assets coming back into the market.
Our Autorola Solutions proposition is also responding well to these market challenges. We were proud to present our case study with Santander Consumer Bank AG Germany at the recent ENG Remarketing conference on how we have worked with them to digitise their remarketing processes.

The extra control they now have over all elements of their fleet management has helped tighten processes and gives a level of transparency that the bank requires to meet ever growing compliance legislation.

So, I would say that these challenges are leading to an exciting time for the industry and when supplier partners work closely with asset owners then the boundaries of the results that can be achieved get greater. To quote Robert Kennedy, ‘may we live in interesting times.’

Regards Peter


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INDICATA powers the Big Data used car economy

Feb 8, 2019   written by Autorola

 

Following a recent INDICATA strategy session in Italy with many Autorola country managers the message from Autorola Group CEO Peter Grøftehauge was clear in that more vehicle asset owners are realising that the best decisions are those that involve big data.

With INDICATA in particular more dealers, OEMs and leasing companies are using its market insights to make real time decisions into what used cars to dispose of, down which channels and at what prices.

INDICATA supports cross border decision making
In mainland Europe this data is vital in helping set reserves on unwanted home country stock such as diesels to ensure the cars are priced competitively when they hit the export market. Understanding quickly which countries will welcome different types and specifications of cars is going to be vital in getting cars sold quickly and efficiently.
In countries like Belgium dealers and leasing companies have seen a major increase in stocking days as diesel demand reduces, which is why working with our country teams and having access to INDICATA data enables them to make more informed decisions more quickly.

INDICATA is processing 100,000 used cars per hour
The latest version of INDICATA is processing 100,000 used cars per hour and further new features are planned for 2019 which will support asset owners in making the right decision using real time information.

For OEMs Peter sees INDICATA being a powerful tool in helping them support their own dealer networks as used cars becoming an even more important part of their profitability.

Dealers are relying on used cars for profitability
“With the growth in online new car sales set to continue and the popularity of EVs over the coming years likely to increase, which require less servicing, used cars will become even more important for the franchised dealer network to help keep them running as viable, profitable businesses,” he said.

“OEMs can use INDICATA to ensure any used ex-management and rental buy back cars fed into dealers are the right colour, specification, engine type, age and mileage. By using this insight, the OEM will have the cars in stock for less time as the network will be queueing up to buy them as they know they will sell quickly and for a good price.
“Any asset owner making decisions without using big data could be dead in five years,” he added.


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Autorola launches new DAIM real-time dealer fleet management system

Feb 6, 2019   written by Autorola

Autorola Solutions has combined the Group’s Fleet Monitor workflow management system with their dynamic used car management tool INDICATA and an online remarketing platform to create a powerful, new, real time fleet management system for car dealer groups.

Called Dealer Asset Inventory Management (DAIM) it provides dealers with a single platform solution which offers a complete overview of all the processes, business workflows and lead times for managing their new and used vehicle stock.

This begins with car returns and vehicle trade-ins, through to used car stocking times and insights into live market pricing as well as dealer lead times for receiving, preparing, retailing and financing their used cars.

Dealer supply chain is an integral part of DAIM
DAIM also enables dealers to link their compound, remarketing suppliers, inspection providers and transport companies together to give them a complete real-time picture into the status of each of their new and used cars and to identify areas for improvement.

Already one large dealer group has successfully piloted DAIM and it is ready for bespoke roll out to customers across Europe.

“By combining each of our Autorola business units we have developed a powerful fleet management tool which gives the real time status around all elements of a dealer group’s business. We know time costs dealers’ money and DAIM aims to help identify efficiencies across every element of a car’s time within a dealership,” explained Ib Kimose, director of Autorola Solutions.


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