More Italian dealers and OEMs are using used car data according to head of INDICATA Italy Pietro Sportelli
INDICATA Italy saw a big increase in demand for its used car data insights during the Covid pandemic. That demand contributed to a good business performance in 2021 with many dealer group customers coming on board during that time.
Italian dealers use INDICATA to check how competitive their used cars are against local rival dealers. They know if their used cars are not competitively priced, they will not sell as consumers spend more time doing homework online to find the region’s most competitively priced used car.
Used car demand falls as new car supply improves
This demand for quality used car data has been accentuated by the demand for used cars falling in Italy now that new car supply is improving. INDICATA has become a valuable tool for dealers to help retain a high stock turn and profitability.
There are around 1,000 franchised dealers in Italy and INDICATA can provide the entire country’s used car data in a single dashboard which can be interrogated by make, model, age, fuel type, sales, and stock turn.
INDICATA Italy currently has eight OEM customers, and their needs are slightly different from dealers in that they like to understand how their used stock is priced against similar stock on a national basis.
INDICATA helps identify which cars to export
Currently 70-80% of used cars in Italy are sold locally by dealers, the rest are exported. INDICATA used car insights are helping dealers identify where in Europe used cars are worth the most money. The Autorola Group is also on hand to help the dealer with the export process including filling in paperwork and managing transport when required.
As INDICATA Italy received traction in the market it launched a successful webinar in December 2021 which regularly sees up to 200 people dial in to hear about the latest used car price trends and insights.
Hosting a successful webinar
“We continue to provide the Italian remarketing industry with insights into the used car market via our bi-monthly webinar. Since starting the webinar, it has grown into a powerful tool to build relations with the entire used car industry.
“It has all been about proving that INDICATA used car price insights can help dealers make more strategic decisions. We have also used LinkedIn to stay in touch with dealers. They know and trust the INDICATA brand,” he added.
Motor K partnership
INDICATA is also celebrating a partnership with automotive technology company Motor K which has grown over the last two years. Motor K develops integrated digital solutions to support the sales and marketing activities of automotive manufacturers and dealers, helping them create value for their end user customers.
They are using INDICATA Web Services which enables companies and end users to evaluate used vehicles in each market using INDICATA’s real-time market intelligence to analyse the vehicle’s market supply, demand, and pricing.
Web Services integrates with Motor K’s web platform
Web Services has been designed for larger asset owners such as financial institutions, fleet financing companies, automotive OEMs, membership-based organisations, and online automotive retail companies. The software easily integrates with standard IT systems such as Motor K’s web platform and is supporting the company which is now working in eight countries.
“We will look to work with more trusted technology partners in the future with our used car insights plugging into their systems and powering a wide range of website-based services for their customers,” explained Pietro.
Solutions Trade-In App launched
INDICATA Italy is to provide more used car data to leasing and insurance companies and banks in 2023 and 2024. It has also launched the Autorola Solutions Trade-In App which provides a full vehicle inspection platform for dealers which when integrated with INDICATA gives them a powerful tool to appraise the condition and value of their used vehicle trade ins.
“We will continue to see our customers use more Autorola and INDICATA services as they are all integrated with each other. We can help customers provide support at every stage of a vehicle’s life cycle,” said Pietro.