NEWS

Introduction from Peter Groftehauge

Autumn in Europe is one of my favourite seasons. It brings with it many changes – a change of weather and a change in the colour of leaves on the trees and as I move around our global business, I am witnessing lots of exciting change.

Having been to visit many of our subsidiaries over the past few months we have celebrated lots of change and growth in 2024 both with customers and team members.

We look forward to continuing this growth into 2025 and beyond and in this newsletter, we celebrate many of the exciting things that are happening around our group.

Used BEV supply and demand

We have interviewed our Autorola MarketPlace global business unit director Morten Holmsten who tells us how our online wholesale remarketing platform continues to play a major part in balancing Europe’s supply and demand of used cars, particularly used BEVs. He also has some interesting views on how AI combined with our talented colleagues is setting our business apart from others in the industry.

We have just returned from another successful Fleet Europe Remarketing Forum where we shared our vision with conference visitors about how our products and services can support the future changes that are prevalent in the remarketing industry. Listen to what colleagues from INDICATA and Autorola Solutions shared with this Europe-wide audience.

Tesla Model 3

The Netherlands is witnessing many of Europe’s changing trends in remarketing and is preparing the country for the huge numbers of Tesla Model 3s coming back into the market by studying the potential effects it will have on prices and demand. We interview the Head of INDICATA Jan Jaap Koops and country manager Frank Tanke to tell us more.

Our latest INDICATA Market Watch report has some good news for used BEV owners in that prices seem to have stabilised over the past few months. The Tesla Model 3 continues to dominate the used BEV sector and four countries in our report witnessed its top three fastest-selling used cars were all BEVs. We will keep a close eye on how the dynamics of used BEVs in the remarketing sector continue to change.

Autorola Solutions Germany 

Germany is another country which is experiencing change and our Autorola Solutions proposition which includes our powerful Fleet Monitor asset and workflow management platform. We talk to the German team on their growth and about their plans for the future as large asset owners look to further improve their customer efficiencies including costs, process and people.

We hope you enjoy our newsletter which brings to life the wonderful things we are achieving around our business. Have a nice Autumn and don’t forget to embrace the changes a new season can bring and thanks for reading.

Best regards,

Peter

www.linkedin.com/petergroeftehauge

Autorola MarketPlace is Europe’s leading online wholesale used car platform and will continue to invest in more salespeople as it combines its technology with real life people to set it apart in a dynamic remarketing industry.

Not every auction company is promising to employ more people. In fact, the European remarketing industry has seen many physical auctions stay online since Covid to reduce their headcount and improve profitability rather than consider what is right for the customer.

Morten is clear that AI is an exciting new tool but is best used to improve the quality and efficiency of people and processes in a business and the human touch is where Autorola Group and indeed MarketPlace sets itself apart from other industry providers.

Doubling our sales teams

“Since 2020 we have doubled our internal sales teams as we look to support our buyers and sellers across our online Autorola MarketPlace auction business and Autofind service. Those people can add value at every stage of the online remarketing process and importantly get the right buyers in front of the right cars to optimise auction conversion rates and increase sale speed and profit.

“That works best when a salesperson makes a phone, or Teams call to a dealer or talks in person to a vendor rather than rely on automated processes.

Cross border – balancing supply and demand

“Providing a personal experience is part of our strategy and we envisage continuing to grow our sales teams. That includes our cross-border teams. More used cars than ever are being imported and exported across Europe as a means of balancing supply and demand,” said Morten.

“That is very relevant when it comes to used EVs which are still in the process of establishing themselves in the used market. France, Italy and Spain are all struggling to build demand for used EVs which means they are exporting cars, while countries like Denmark are importing used EVs to satisfy consumer demand.

Multi-lingual teams

“Our MarketPlace portal is at the heart of these transactions, from selling the used car to managing the paperwork and organising the transport. We have multi-lingual teams in all the major left hand drive markets,” he explained.

INDICATA is playing a big part in helping vendors make the decision in which country to sell their unwanted used cars. Its data can quickly identify where different used cars are worth the most and then our sales team can quickly get the cars in front of these audiences across Europe.

Speed of response is essential

Speed of response is essential as prices can change in individual countries every few days and that is where our Fleet Monitor workflow process platform comes in. It enables asset owners to manage the processes involved at each stage of a vehicle’s life cycle and that includes getting a vehicle sold and transported to its new owner.

Cross border sales are not currently a serious option for the Autorola UK business due to the fact their steering wheel is on a different side of the car to mainland Europe but where it has found success is with Autofind, an online wholesale remarketing platform which enables dealers to buy and sell stock to one another.

Over 2,000 active buyers

With over 2,000 active UK buyers it acts as a very busy portal where dealers sell overage or duplicate stock or dealers can source and buy their stock online in the wholesale market to refresh their stock or to satisfy sold orders.

“Autofind is responsible for selling thousands of used cars each year in the United Kingdom and we are looking to roll it out in Germany before the end of 2024. Dealers can upload used cars for sale that are still on their retail forecourts so in affect they are always on sale. Once again people and technology work together to provide the buyer and seller with an amazing personal service,” said Morten.

France and Austria set to launch Autofind

“Our timed auctions sell vehicles that have been handpicked and then sidelined for sale so do not compete with Autofind. If the Germany roll out works well, we have identified France and Austria as the next countries to adopt Autofind,” he said.

Another opportunity for MarketPlace is the growing number of OEMs that are now trialling or rolling out the ‘agency model,’ for selling new cars. With the dealer only receiving a fixed commission for selling each new car their used car and parts businesses have suddenly become more important for them to make money.

‘Always on’ platform

“Signing up to Autorola MarketPlace to source cars and sold unwanted part exchanges creates an ‘always on’ wholesale platform for the dealer. The more dealers that are signed up to Autorola MarketPlace the better as the range of vehicles will increase as will the range of age and mileage brackets. There is something for everyone as the current 10,000 + UK stock shows.

“Autorola MarketPlace also works very well in partnership with our INDICATA used car pricing and insights platform. Dealers can use its data to identify what used cars are selling the fastest in their region and then source them via Autofind.

To find out more about Autorola MarketPlace go to: www.autorolamarketplace.com

Fleet Europe’s remarketing forums in Milan provided Autorola with an ideal platform to discuss with remarketing professionals from around Europe how to leverage data and systems to optimise their fleet businesses.

Not only were Autorola platinum event sponsors they sent two of their senior team members – Jon Bulloch, INDICATA’s European Business Development Director and Carsten Kaufmann, Autorola Solutions European Business Development Director to participate in the discussion.

The message from Jon was how INDICATA offers real-time insights into market values, locally and for export and gauges in real time when vehicle value rises above or falls below book value. The used car pricing platform helps strategically sell vehicles before depreciation, therefore optimising profitability.

The INDICATA platform provides tools to predict future market trends rather than just focusing on making decisions based on pricing trends in the past. INDICATA will keep evolving and aims to proactively support customers in the short and long term.

Intelligent fleet management

Carsten highlighted the support asset owners receive across the entire lifecycle of the vehicles through using Autorola’s Fleet Monitor asset management and workflow system. It makes fleet management intelligent and creates a digital landscape which includes everything in it to manage assets and processes more efficiently.

The Fleet Monitor platform merges real-time market intelligence with business logic to stay ahead of market trends, optimising defleet operations across Europe. It facilitates data-driven decision-making on fleet performance and market trends and centralises collaboration and aligns decisions with business goals like profitability.

If you would like to continue this conversation with either Jon and or Carsten, please email them on jbu@indicata.com or cka@autorola.de

Over the past 12 months, Autorola Solutions Germany has seen remarkable growth, increasing its business by 30%. This success is built on a solid foundation of long-standing customer relationships and a dedicated team that consistently strengthens collaboration with existing customers.

In a dynamic and increasingly complex automotive market, demand for digitalisation and platform solutions is rising significantly – a demand Autorola Solutions Germany is preparing to meet.

Meeting the demand for digitalisation

As the automotive industry is increasingly moving toward digital platforms, Autorola Solutions Germany is responding to this growing demand with expert platform solutions. With the challenges in vehicle management becoming increasingly complex, companies must maintain a complete overview and adapt their processes to meet expectations in the market and that’s where Autorola Solutions makes its mark.

The focus for Autorola Solutions is to provide high-quality platforms that help businesses streamline operations, and the team in Germany is preparing to meet these demands.

Additional team members

To keep pace with the demand, the Autorola Solutions Germany team is expanding, with an additional three team members having already joined this year – they are focused on business development and to establish solutions that grow with the customers. This means that customers are collaborating with the same team throughout the entire process, from initial meetings to the implementation of fully-fledged solutions.

To accomplish this, the team in Germany has prioritised hiring team members with strong expertise in digital platforms, across multiple industries. This approach has allowed Autorola Solutions Germany to introduce fresh perspectives and innovative ideas into their team, ensuring the best solutions are provided to meet the ever-evolving market trends and demands.

Cross-border collaboration

As the team is growing to meet market demand, Autorola Solutions Germany is also leveraging the international expertise of its company, strengthening collaboration with other Autorola offices across the world including its Danish HQ.

By working closely with international colleagues, Autorola Solutions Germany is not only enhancing its own expertise but also contributing to the larger group’s efforts to deliver comprehensive, high-quality solutions to customers worldwide.

“The goal is to exchange knowledge, share best practices, and ultimately create a more cohesive unit across borders,” says Roland Kreutz, Sales Director of Autorola Solutions Germany. “We are building bridges between countries and teams, sharing knowledge to ensure we offer the best possible service to our customers.”

Looking to the future

With a solid foundation in place and a team which is growing and adapting, Autorola Solutions Germany is well-prepared to meet the increasing demand for digitalisation and platform solutions in the market.

The coming year will see a stronger focus on new business development, alongside a continued dedication to support existing customers. As it continues to expand the German Autorola Solutions team remain committed to delivering the high-quality service it is known for, while driving growth to match the changing dynamics of the market.

As digitalisation continues to shape the future of the automotive industry, Autorola Solutions Germany is ready to drive change with innovative solutions that addresses the evolving needs of the industry.

When a country imports circa 300,000 used cars each year, exports 300,000 used cars and registers 300,000 new cars, then it has a lot going on in the field of remarketing. These numbers sum up the Netherlands car market and which is why it is very progressive when it comes to everything used vehicle remarketing.

That is one of the reasons the Autorola Netherlands business has reported consistently rapid growth over the past few years. This includes the Autorola MarketPlace online wholesale remarketing platform and INDICATA used car data and pricing insights, as vendors are keen to stay one step ahead of the market by utilising data to help them make more strategic decisions to cope with the country’s fast-moving used car industry.

One of the most recent additions to the Autorola Netherlands team is Jan Jaap Koops, who has joined to head up the INDICATA business unit as well as introduce their new RV Forecast proposition in NL.

Dominant automotive data supplier

“New people have a habit of looking at a business from the ‘outside in’ which is why I joined Autorola. INDICATA has a unique coverage in automotive data, intelligence and people at global level and could become the most dominant automotive data supplier in Europe,” explained Jan Jaap.

“It can quickly embrace a vendor’s data needs and is constantly keeping a very close eye on the market, which was represented in three thought-leading white papers on the major trends that will shake up the remarketing industry over the next 6-12 months,” he explained.

Tesla white papers

It published its first white paper in late 2023 which assessed the future impact of the massive Tesla Model 3 de-fleet volumes that are going to hit the used car market in 2024 and beyond. That white paper has since been revisited in the summer of 2024 to give vendors a better idea of how INDICATA’s initial predictions are shaping up. The Tesla popularity in The Netherlands creates a unique insight of a de-fleet disruption in our market, hence its popularity even amongst international automotive media.

The Netherlands published its third white paper in Q1 2024 which assessed the impact on the country’s new LCV taxes on the new and used LCV sector when they are due to be introduced in January 2025.

The price of an average petrol or diesel LCV across the top 20-best-selling models will be more expensive by around €12,300 with the only exception after 1 January 2025 for electric vans. The white paper investigates the impact on used van prices in The Netherlands, our insights team profit from previous pricing dynamics in our EU data model, we have for example experienced similar taxation initiatives introduced by the Austrian Government in 2021.

Helping navigate used businesses

“The OEM, fleet and dealer sectors are now looking to us to help them navigate their used car businesses through some challenging times. We are viewed as thought leaders and we may not always be telling the industry what they want to hear but at least we are sharing with them data and insight that will help them proactively prepare for some major change in the country’s remarketing dynamics,” explained Frank Tanke.

“We bring an objective view to a mature market which is what both vendors and buyers like. Our data is agnostic, and we provide both sides of the coin when it comes to interpreting the impact market trends will have. That data is well respected with other remarketing businesses choosing to use INDICATA data,” he added.

First to embrace EVs   

The country was one of the first to embrace EVs as the Government introduced subsidies for drivers and companies to promote zero emissions motoring which are now being challenged or changed by a new Government. Its charging infrastructure is one of the strongest in Europe and traditionally it is one of the countries in Europe where OEMs carry out their European pilots, particularly the new Chinese car makers. INDICATA continues to be the frontline data provider to support all aspects of the industry as they battle the uncertainty of used EVs.

Like a lot of European countries, The Netherlands has companies taking residual value risks on used EVs at a time when prices show no sign of settling down. Retail prices of used EVs have fallen by 29.5% between January 2023 and October 2024, but at 8.3% EVs comprise nearly double the market share of other countries.

Its Market Days’ Supply has reduced dramatically recently to 100 days, which is the second lowest level in the past 22 months, which shows supply and demand are beginning to settle down.

Home to European HQs

The Netherlands is home to many European headquarters due the workforce’s overall adaptability and non-political bias.

Large leasing companies and their remarketing teams are constantly trying to understand used EV trends in more detail and over the past 4-5 years the INDICATA Market Watch report has given them monthly insights across 13 countries including The Netherlands.

“We will continue to help our customers manage their RV risks as efficiently as possible by being in tune with their needs. We will continue to adapt our products and services, which will start very soon by making our Market Watch report available in more languages than ever before,” explained Jan Jaap.

Are you interested in our – free of charge – monthly EU Market watch summary, the whitepapers on the Tesla Model 3 or LCVs? Please send your request to info@indicata.nl

European used BEV prices show signs of stabilising

There could be a silver lining for used BEV owners according to the latest INDICATA Market Watch report.

Average prices at the start of October were only 0.44 pp lower than at the start of September which means that used BEV prices have reduced at a slightly slower rate than other powertrains.

This marks three consecutive months without an accelerated reduction in average BEV prices, a positive sign that BEV prices are finally stabilising.

Tesla Model 3 – Europe’s top and fastest-selling BEV

While used BEVs have struggled over the last year or so there are some models which are continuing to break the trend. The Tesla Model 3 is not only the top-selling BEV by volume, but also the fastest-selling model across all powertrains, with a Market Days’ Supply (MDS) of just 30.9 days.

The Opel/Vauxhall Corsa also demonstrates the importance of supply and demand with the BEV version having a MDS of just 22.5 days, making it the fastest-selling BEV powertrain. It is also performing much better than its traditional powertrain equivalent which has a MDS of 34.1 days.

Fastest-selling used cars are BEVs

Four countries out of the 13 featured in our report all saw BEVs account for the top three fastest-selling used cars during September.

Denmark          1 Tesla Model 3              2 Tesla Model Y              3 Renault Zoe

Germany           1 BMW i3                          2 Tesla Model 3              3 Tesla Model Y

Netherlands    1 Tesla Model 3              2 Tesla Model Y              3 Cupra Born

UK                       1 Renault Zoe                 2 BMW i3                          3 Hyundai IONIQ

“After months of turmoil used BEVs could finally be settling down much to the relief of many large leasing companies, dealer groups, OEMs and banks who have suffered at the hands of falling prices over the past 12 months,” explained Andy Shields, INDICATA’s global business unit director.

“That may have all changed with used BEV prices in some countries rising in September, while others have stabilised and stopped falling. Tesla remains as the aspirational used BEV brand across Europe with both the Model 3 and Model Y, while the aging but affordable BMW i3 and Renault Zoe are also both in strong demand,” he added.

To download a copy of the 13-country 34-page INDICATA report go to  www.indicata.com