NEWS

Welcome to the Autorola Group newsletter

Jul 3, 2024   written by Autorola



Welcome to the mid-year edition of the Autorola Newsletter. This edition has a soft focus on the changing state of used car markets, as the rise, fall and rebound in demand for BEVs continues to make itself felt across all markets, but in particular across European territories.

After nine successful years of working with Autorola’s Fleet Monitor platform, Turkey’s leading automotive retailer, car rental and car sharing company, Otokoç Otomotiv continues to benefit from our services and insight, which you can read about below.

We have interviewed Autorola France country manager, Pierre Emmanuel Beau, in which he discusses the importance of data in cross border sales, which has driven strong growth in his fast-moving territory.

Our latest INDICATA Market Watch reports suggests that Denmark is set to become Europe’s first all-electric car market. With new and, importantly, used BEV sales soaring in this country, the market demand for electric vehicles continues to grow.

Our INDICATA data is helping facilitate cross border sales within the EU to meet Danish demand, while managing stock levels for dealers in territories where used EVs are less popular with buyers.

We also look at how Autorola Solutions is gaining traction across our Nordic territories, with Fleet Monitor facilitating the consolidation of IT infrastructure for finance and leasing companies,

Finally, we celebrate the tremendous milestone of our colleague Morten Holmsten, who this June celebrated 20 years with the Autorola Group. Morten’s contribution to our company’s growth and success cannot be underestimated, so we have marked this occasion by looking back at our company’s progression over his time with us, and the integral part he has played in both our Danish and international businesses.

If you know Morten, this article is a fitting tribute to his two decades with the group, and if you have yet to meet him, it will serve as a good introduction.

I hope our newsletter proves an interesting read.

Kind regards,

Peter

Autorola France country manager Pierre Emmanuel Beau is reporting strong business growth on the back of a fast moving new and used car market

Jul 3, 2024   written by Autorola

 

The French used car industry is like many other countries in Europe with sales of new BEVs growing but with demand for used BEVs remaining very slow.

New car sales are up 4.9% in the first five months of 2024 with BEVs accounting for 18.9% of those registrations all of which is being fuelled by the French government’s commitment to phasing out petrol and diesel cars from the country’s roads by 2040.

Bearing in mind the French market was predominantly diesel for such a long period of time the change to a low or zero emission car parc has happened extremely quickly.

Adapting to a changing market

Hybrids are also making an impact in the new market accounting for 36.7% of sales so far in 2024 while diesel sales have shrunk to just 7.5% of sales. Autorola France is already supporting its customers in adapting to the changing market with a cross-border service which is seeing unwanted used BEVs being exported to other European countries.

Many French used BEVs are now ending up in Portugal, Germany, Belgium, Austria, The Netherlands and Denmark where countries are short of certain BEV models. This cross-border service powered by the MarketPlace online platform is an important one that is helping vendors free up cashflow and improve their stocking days.

Exporting used cars

“France continues to export many used cars and we are pleased to be able to support our customers. They are pleased to outsource this service to us as they know we take away all the hassles including managing all the paperwork and pan European logistics if required.

“Demand for used BEVs is lower than ICE cars currently and we are helping vendors find homes for these cars,” explained Pierre.

This growth in cross border activity is just one of the reasons Aurorola France continues to grow its business revenues. In 2024 the business is already 60% up on the first six months of 2023 after experiencing a 75% growth in revenues between 2021 and 2023.

One of the five largest remarketing companies

“The Autorola brand is known and trusted in France now for online remarketing. We are one of the five largest remarketing businesses in the country and our online MarketPlace proposition is still one of the best for both in country and cross border-sales in a market that is very competitive,” said Pierre.

The new and used car market are fast moving and more dealer and OEM vendors are turning to Big Data to help support their decision-making process. Many have already turned to using the INDICATA used car pricing platform to help them make the right remarketing decisions on the different fuel types that are coming back as part exchanges or ex-fleet cars.

BEVs accounted for just 4.32% of May’s used sales but 8.91% of online B2C stock at the start of June according to INDICATA’s latest Market Watch report, which will put further deflationary pressure on pricing.

Used BEV stock imbalance

This imbalance between BEV stock and sales explains why BEVs have the worst Market Days’ Supply in France by some margin at 146 days compared with 51 days for diesel used cars which are the fastest moving.

“Vendors are using INDICATA data to manage these challenges in the used market. From helping dealers value part exchanges to helping them adopt a competitive pricing on strategy versus local rival dealers INDICATA is providing vital retail data.

“We are also using this data to help dealer group vendors decide when to retail used cars in France and when to export them to other markets where they can make more money. This has helped support a 100% increase in INDICATA revenues over the past 2-3 years. It is another case of us being able to support our customers in managing their used vehicle inventory more effectively,” said Pierre.

Raw data

Five colleagues are now employed just in the INDICATA department alone and as well as providing data insights via the usual customer dashboard some OEMs are now buying raw data to help develop their own macro and micro used car analysis.

“More time and effort are being spent by OEMs and their dealers to make the right decisions. It is no longer suitable just to use a gut feel alone on how much a used car is worth. The experience of individual used car experts now must be supported by data insights such is the speed at which the French market is moving,” he added.

Morten Holmsten celebrates 20th years with the Autorola Group

Jul 3, 2024   written by Autorola

 

Autorola celebrated colleague Morten Holmsten‘s 20th anniversary with the group on June 1st, recognizing his significant contributions.

Many of you around the world will know Morten as our Global Business Unit Director of Autorola Marketplace for the past decade. His efforts have been crucial to the platform’s success which is now Europe’s leading online remarketing and used car cross border platform.

Helping expand new subsidiaries

Autorola Marketplace has also played a big part in the growth of the newer subsidiaries in the group such as Mexico and Brazil while it is set to make a big impression in automating remarketing for companies in the Middle East through our Autorola Gulf business partnership with Al Futtaim Automotive.

Morten has always worked in the automotive industry having joined Autorola after spells working for Nordania Leasing, GE Capital and BG Bank.


From 20 employees to an international role

Reflecting on his 20 years at Autorola Morten said: “Reflecting on the past, the fondest memories include the company’s early days when all 20 employees could dine together, the expansion into new countries through a diverse team in Odense, and the integration of Bilsalg.dk into Autorola as the Country Manager for Denmark.

“Over the last decade, my focus has shifted to an international role, and I  find daily inspiration in working with various countries, cultures, and customers. I look forward to every day at Autorola and I would like to thank Peter Grøftehauge for the chance to grow both professionally and personally,” he added.


Loyalty and dedication

Autorola’s group CEO Peter Grøftehauge commented: “I would like to thank Morten personally for his loyalty and dedication in helping build Autorola into a global business. He bought into our online vision right from day one and has enjoyed a successful role in the Danish market as well as growing our MarketPlace remarketing platform into a global success story. We look forward to Morten playing an integral role in the future growth of the Autorola Group,” he added.

Away from his busy work schedule Morten enjoys playing golf course and spending time with his family.

INDICATA Market Watch report: Denmark could become Europe’s first all-electric car market

Jul 3, 2024   written by Autorola

 

Denmark could make history by becoming Europe’s first all-electric car market over the next few years according to INDICATA’s latest used car insights report.

INDICATA’s May report showed BEVs up to two years of age accounted for two out of every three used cars sold in the country and 52.2% of all used cars up to four years of age.

Denmark’s top selling used cars in May were all BEVs – the VW ID-4, the Tesla Model 3 and VW ID-3, while the fastest-selling cars were also all BEVs – the Tesla Model 3 and Y and the Skoda Enyaq. BEVs are also on the rise in the LCV sector accounting for 8.8% of sales.

New and used BEV sales thriving

This used demand has more than matched Denmark’s new BEV car sales which accounted for 32.6% of the market in 2023 and are projected at 36.3% for 2024 buoyed by tax incentives. If this new and used BEV ecosystem continues the country looks set to make history as Europe’s first all-electric car market.

“Our Market Watch report confirms that the desire from governments to push the move to BEVs has been met by weak public demand across the whole of Europe. However, the only exception is Denmark where both the new and used markets are experiencing healthy sales,” explained Andy Shields, INDICATA’s global business unit director.

“During 2024 used BEVs have overtaken ICE cars and demand is such that cars are being imported from countries like France to help meet demand.

Healthy used car market

“The success of a new car market relies on a healthy used car market and Denmark is getting this balance just right. More countries will be looking to learn from Denmark to breathe life into their used BEV markets,” he added.

The Danish market is also unique in another area regarding used vehicles. INDICATA’s Market Days’ Supply metric looks at the amount of stock compared to sales run rate. In almost every other European market, BEVs have the worst MDS by a long way, whereas in Denmark, it has the best MDS, 52 days, which is significantly better than second-placed PHEV/HEV and petrol at 65 days.

Strong new BEV market in Norway

The only country that has come close to Denmark is Norway where a wide range of incentives have increased the speed at which BEVs have been onboarded. In 2023 BEVs accounted for 82.4% of new car sales while the Norwegian EV Association predict this figure will increase to 95% in 2024.

However, Norwegian consumers have been slower to embrace used BEVs, with many cars being exported to other European countries to balance supply with reduced demand.

To download a copy of the latest Market Watch report, go to www.indicata.com

Brian Nørregaard, head of sales at Autorola Solutions Nordic discusses how more companies are using the powerful Fleet Monitor business workflow and asset management platform

Jul 3, 2024   written by Autorola

 

The Nordic countries are some of the most IT literate in Europe, particularly Denmark, Sweden and Finland and therefore understand the power of digitalisation when managing their vehicle fleets more efficiently.

 

It is something that Brian has experienced in the past decade working at board level in automotive technology businesses like KeyLoop.

 

Leading the way

Denmark is leading the way in the Nordics with the Autorola Solutions proposition – the Fleet Monitor workflow monitoring tool that supports vehicle fleet owners to process their volumes from acquisition to disposal in the most efficient and structured way. This includes utilisation of INDICATA’s vehicle pricing data and the MarketPlace online remarketing platform within the Fleet Monitor vehicle management framework.

 

In Denmark Fleet Monitor is already in place with a number of leasing companies and banks which use it to manage the flow of vehicles onto its fleet and driving the de-fleet cycle, thus centralising and consolidating their IT infrastructures. Fleet Monitor is also operational in Norway with Autolease while a major German OEM and Europe-wide motor finance and leasing brand are set to onboard it very soon.

 

Efficiency and transparency

“Compliance and asset management are at the forefront of the minds of finance companies who are underwriting vehicle assets. They appreciate the efficiency and transparency offered by Fleet Monitor to help them optimise their assets most efficiently, reduce costs and manage lead times,” explained Brian.

 

“They can also optimise INDICATA used car pricing data during the life of the vehicle fleet as well as when it comes to vehicle disposal. Valuing assets on a monthly basis by using INDICATA real time used vehicle data helps them understand the value of their vehicle book, whilst referring to the data at de-fleet time helps them optimise residual values,” he added.

 

And once vehicles have been sold fleets can manage their logistics supply chain through Fleet Monitor.

 

Danish dealers

Denmark has 30-40 car dealers using Fleet Monitor to sell used cars to trade buyers. MarketPlace puts dealer vehicles in front of live Danish buyers who use the platform to help speed up the sale process.

 

Brian and his team are now moving into other Nordic countries including Sweden, Norway and Finland.

 

Fleet Monitor is easy to customise

“The power of Fleet Monitor is its ability to be customised to suit different customer needs in different countries. We are already engaging with dealers in Sweden, while in Norway we are looking for partners to work with. We can offer them access to our business units and the ability to expand their operations outside of Norway.

 

“It is a win-win situation for both companies to grow their businesses and with Fleet Monitor working in multi-currencies and languages country borders do not present a barrier. We already use geo-pricing to help companies understand the country where their end-of-life cars are worth the most.

 

“We are now onboarding our INDICATA used car pricing and forecasting tool into Fleet Monitor to help customers understand how used car prices are performing in real time and what they are going to look like in the future.

 

“Cross border activity continues to grow as companies import and export used cars to suit their individual needs and we want Fleet Monitor at the heart of this to simplify end-to-end process management including supply chain, paperwork and logistics,” he added.

OTOKOÇ OTOMOTİV celebrates using Autorola’s Fleet Monitor for nine years

Jul 3, 2024   written by Autorola

 

Turkey’s leading automotive retailer, car rental and car sharing company Otokoç Otomotiv is celebrating nine years of bringing all its automotive-related solutions to its customers under one roof courtesy of Autorola’s Fleet Monitor platform.

 

The Fleet Monitor asset management and workflow platform is overseeing the following areas: Automotive Retailing Business; New Car Sales, Insurance, Spare Parts, Used Car Sales and its in-car rental business which it operates under the Avis, Avis Filo, Budget and Zipcar brands.

 

400 service points across nine countries

Otokoç Automotive provides services at nearly 400 points in a total of nine countries, including Turkey, Greece, Azerbaijan, Hungary, Georgia, Kazakhstan, Ukraine, Northern Cyprus and Northern Iraq.

 

In addition, with its widespread sales points across Turkey and its complex structure with multiple business models, it took a great deal of effort, focus and effort to manage all processes on the single Fleet Monitor platform. Autorola and Otokoç worked closely together to develop a clearly defined workflow across its businesses and then rolled out extensive training and education to ensure that all teams used it.

 

Automating all workflows, processes

Vehicle definitions were automated with catalogue integration as were Tramer Inquiry processes with web service integration. Its dealer network used car operations were automated with VIS (Vehicle Inspection System) integration to ensure every dealer inspects used car part exchanges in a consistent group-wide manner.

 

VIS is also automating the aftersales processes of de-fleet vehicles where each individual inspection is uploaded to Fleet Monitor. They can then easily be exported into both Autorola and Otokoç’s own online auction platforms for sale to either wholesale or retail buyers.

 

Otokoç’s Fleet Monitor is integrated with both Autorola’s other systems and Otokoç Enterprise Resource Planning that helps run its entire back office that supports automation and processes in finance, human resources, manufacturing, supply chain, services and procurement.

 

Managing end to end processes

Under the main Fleet Monitor platform are 28 sub-Fleet Monitors set up to manage end-to-end processes of 26 Otokoç dealer networks and two fleet rental brands to enable the central management of all businesses.

 

In total Fleet Monitor allows the management of data associated with 80,000 vehicles on average per year and all operations of an average of 20,000 fleet vehicles plus two fleet rental brands all from a single screen.

Welcome to the Autorola Group newsletter

Apr 26, 2024   written by Autorola



Welcome to the Spring Autorola Group Newsletter, our second of 2024.

In this edition of the newsletter, we explore the operations of Autorola Gulf, a year after the Al-Futtaim Automotive business partnership was announced. The general manager of the region gives a detailed insight into how our technology-led solutions are helping to revolutionise the remarketing industry in this region.

In another example of how our data-driven insight can bring real-world benefits to businesses looking to stay ahead of the curve, the article on the upcoming taxation changes for LCVs in the Netherlands shows just how powerful data is as a tool. In this instance, INDICATA’s data drawn from Austria has been modelled to predict the effects of a taxation change on the used LCV market from 2025 onwards.

AI is often talked about, but in this edition, we have an article showcasing how Autorola’s early adoption of this technology has benefitted our business and customers alike.

It would be unusual if we didn’t feature an article about used BEVs in this newsletter, and in the UK the INDICATA team has been keeping a close eye on the comparative prices of used BEVs and ICE cars. Read the article below for full details.

I hope that you enjoy this edition.

Best regards,
Peter Grøftehauge (LinkedIn)

Ilias Ghiyati, General Manager of Autorola Gulf, discusses the first 12 months of the business launching its new partnership with Al-Futtaim Automotive

Apr 26, 2024   written by Autorola

 

“It has taken twelve months of meeting potential customers, dealers, rental companies, lease companies, and OEMs. These are established businesses, and we are introducing them to a digital transformation of their remarketing. For many large ticket B2B businesses, their remarketing is very complex.

“We are continually fact-finding and understanding each country’s individual dynamics in the Gulf region. This includes meeting with many independent dealers to understand how and where they source their used vehicles. Many businesses are still family-owned, and building trust is important.

“They are very entrepreneurial, and we must show them that we too are entrepreneurs and are committed to changing market processes to benefit everyone’s business. We have been trading online for over 20 years and started our business when websites were in their infancy. Our vision has remained consistent over the decades, and online auctions are slowly replacing physical auctions, something that has sped up since the Covid pandemic when buying online was the only method of buying stock.

Replacing manual work processes

“On the fleet side, we are talking to rental companies about how they sell their vehicles, and our general conclusion so far is that existing remarketing processes and workflows are very manual.

“These insights give us confidence that many of these processes will benefit from being digitized through our Fleet Monitor workflow management system and Digital Showroom online auction system, which will provide valuable support to their businesses.

“Al-Futtaim Automotive (AFA) is a very well-established and trusted business trading right across the Middle East. Working with AFA as a partner and customer gives us local experience and market knowledge which we are combining with our 20-plus years of technology and experience working in the automotive industry.

“The Middle Eastern market consists of big traders in all sorts of goods including cars. The customer’s behaviour and the way they work is very different. We must now build trust with buyers and vendors, that our digital channels will help support and grow their businesses while bringing many efficiencies.

Impartiality

“Despite our partnership with AFA, our impartiality means we respect everyone’s data privacy. We must educate the marketplace that we are impartial and respect their privacy.

“Autorola handles sensitive data on behalf of banks, financial institutions, and very demanding customers, including world-leading OEMs. We take information security and data integrity to the next level.

“We listen carefully to feedback from the marketplace and that is very important as we continue to learn about customer needs, but we can be flexible and agile.

“INDICATA is not available yet in the region, but we are exploring how we set the platform up and explore opportunities. There is no doubt the region will benefit from used vehicle pricing insights in real-time as there is an underserved opportunity in creating transparency on cross-border trade to maximise pricing.

Cross-border disposal strategy

“Knowing more about pricing between countries, particularly when you sell multiple vehicles, such as rental and leasing suppliers, is extremely useful. It helps support your disposal strategy and you choose to dispose of the country where your stock is worth the most.

“We recently launched open auction activities using the Digital Showroom software from Autorola Solutions.

“Wholesale channels are currently very immature, which is where our technology can help. Over the next 3-5 years, we believe that wholesale volumes being listed and sold online through marketplaces, will rise dramatically in the region as more online channels come on stream and as businesses embrace change by welcoming more innovation to the region.

Shifting away from oil revenues

“We have seen rapid change in the Gulf region, which has been supported by a young population and a shift away from a reliance on oil revenues. For instance, Lucid Group officially opened Saudi Arabia’s first ever car manufacturing facility to produce its groundbreaking electric vehicles for the home and export markets.

“Ceer Motors, a joint venture between PIF, Saudi Arabia’s sovereign wealth fund, and Foxconn, recently started building a one-million square metre car manufacturing facility to produce a target of 170,000 cars a year for the domestic and export markets.

“BYD has an exclusive cooperation with Al-Futtaim Automotive in the UAE and recently marked a crucial expansion to Saudia Arabia, which gives Autorola very interesting perspectives in the Arab world’s largest economy.  We are also set to announce an exciting new customer in Qatar in the second quarter of 2024.

Large buyer base

“The Hertz UAE franchise is owned by Al-Futtaim Automotive and its 12–24-month-old used cars are sold through the Al-Futtaim Auto Auction digital showroom, which is a self-managed auction platform, powered by Autorola.

“Hertz offers a broad selection of cars and is considered a trusted source, which gives confidence to Al-Futtaim’s large buyer base. The online channel makes it easy to do business for buyers and vendors alike. Dealers are slowly getting used to buying used cars online more seriously.

“Part of building buyer trust is to ensure vehicles are inspected thoroughly and quality images captured of each vehicle before they are uploaded online. That empowers the seller to sell vehicles online whilst making sure the pricing is correct.

“Lease contract returns will also benefit from a quality vehicle inspection, not just for the lease company, who are determining what the dehire costs are for their client, but also for then speeding up the on-sale process. Our inspection software can help make the dehire process very objective.

End-to-end vehicle management

“Where we believe our Fleet Monitor asset workflow platform will become popular, is to manage a vehicle’s life from end-to-end finishing with the sale of the vehicle. Tracking everything from car order to sale, it enables rental and leasing fleets to enrich their data connected with their stock inventory.

“It will help companies in the Gulf region to digitise their processes and make them more efficient plus understand more information about their vehicle inventory and when overlaying INDICATA’s used car pricing data understand the current value of their stock. Fleets have admitted that they are hungry for more accurate used car data, and we look forward to providing that in the future.”

INDICATA Netherlands has published a new White Paper on the impact of abolishing the LCV entrepreneurs’ exemption set for introduction in January 2025

Apr 26, 2024   written by Autorola


The Netherlands is due to abolish the “entrepreneur’s exemption” on the BPM tax applied to Light Commercial Vehicles, from January 2025, with the sole exception of electric LCVs.

This is a move which will see all new petrol and diesel vans subject to the same taxation as passenger vehicles and will increase the sale price of new LCVs by an average of 12,300 EUR across the country’s best-selling models.

INDICATA has published a white paper looking at the potential effects of this change on the used van market in the Netherlands. These predictions are based on its data from Austria in 2021, which underwent a similarly large taxation shift, when it introduced the NOVA luxury tax on new LCVs in 2021.

What happened to the used LCV market in Austria?

The Austrian NOVA tax was introduced in 2021, on a lower rate which has increased annually since then, and which reaches its peak and perpetual rate in 2025. This introduction coincided with the international microprocessor shortage, which saw used vehicle values rise across the board, so it was important for INDICATA to take this into account to determine the true impact of NOVA on used values.

When the effects of the shortage were subtracted from the market data, it was revealed that for each increase in NOVA rates, the used LCV market saw a price increase of 2.5%, or a predicted 12.5% overall increase over five years.

What might happen to LCV values in The Netherlands?

The immediate increase in new LCV prices is likely to have a negative impact on sales, as businesses are likely to try and run their existing vehicles for as long as possible to avoid the tax. This in turn should result in an increase in used LCV prices across The Netherlands.

As such, the prediction for used LCV prices after the tax introduction is that market values will rise between 8 and 12.5% overall in 2025.

What is the future for LCVs in The Netherlands?

With the introduction of the new taxation on internal combustion LCVs in The Netherlands, combined with the increasing number of zero emissions zones across the country, which bans combustion engines within 20 municipalities in 2025, there is likely to be a surge in the take-up of electric LCVs instead.

A major ‘problem factor’ might be the weight of eLCVs, which, if plated at 4.25 tonnes GVW, will mean many current drivers of LCVs will be unable to drive eLCVs due to the weight restrictions on licences.

While businesses will be able to invest in the training and testing of drivers to enable them to drive these heavier vehicles, a preferable alternative would be to match the legislation found in the UK, which gives dispensation to drivers of electric vehicles to operate heavier vehicles. This aims to encourage the take up of eLCVs, alongside other taxation and legislative incentives.

To read the full white paper, please download a copy at LCVs Market Watch White Paper (indicata.com)

For a full copy of the white paper go to www.indicata.com

We interview our group AI expert John Prescott on Autorola’s plans to make AI more integral to future business processes

Apr 26, 2024   written by Autorola

 

Autorola was an early adopter of AI when it started using the technology five years ago within the INDICATA business unit to further improve the accuracy of its pricing data.

INDICATA introduced AI technology over five years ago to resolve the challenge around identifying the correct model year and body type of the vehicle.

Vehicle Recognition

It does this by analysing key features on each vehicle image, such as headlights and fog lights that are unique to that specific make and model of vehicle. This accurately identifies the vehicle, therefore improving the quality of INDICATA data.

The group’s latest AI activation has been a successful collaboration with Autorola Germany where it was used in helping to automate the vehicle data extraction and validation process while ensuring the quality and accuracy of the information.

AI PDF extractor

This took the form of an AI PDF extractor which was able to locate, extract and process the required vehicle data needed to support the sale of vehicles on Autorola Germany’s auction platform.

The solution improved the speed and efficiency of the data validation process, as the human reviewers only had to check and confirm the information that AI PDF Extractor provided, rather than undertaking a manual search.

“There is no reason that in the future all our data-related processes will have some form of AI support behind them simply because it speeds up all elements of data extraction, analysis and reporting,” said John.

Automating data extraction

“The goal is to automate the data extraction and processing process as much as possible, with minimal human intervention, while maintaining the high standards of data quality and accuracy.

“That approach will benefit our customers and our internal teams both at our Odense HQ and within our subsidiary businesses.”

Vehicle descriptions are one key area where AI can add value. As more vehicle manufacturers have extended their model ranges so the levels of complexity have increased. That makes it more of a minefield when Autorola or its customers upload used vehicles onto the MarketPlace online platform. AI can help improve that data.

Improving imagery

Transparency of information when selling online is vital to achieving buyer trust and that includes imagery. Autorola can see AI playing a key part in improving imagery, including altering vehicle backgrounds.

“We are also seeing AI technology continuing to improve around filmed content which is another area which can support our business. AI object recognition is getting better and ultimately the aim is to provide the best quality data, whether we are helping customers buy or sell used vehicles.

“There is also a major benefit for our colleagues in using AI – many elements of data processing are repetitive and time consuming. AI takes away these more manual data processing tasks which helps improve job satisfaction – it also helps colleagues achieve more complex data workflow tasks more quickly and efficiently.

Speed and efficiency = cost benefits

“If complex tasks are completed more quickly and efficiently then there will always be a cost benefit which should not be overlooked.

“I like to think of AI as being the new industrial revolution for offices as there is a huge future potential in improving the workflows and processes of everything we do on a daily basis,” explained John.