NEWS

INDICATA UK has published a white paper which shows how used BEV and ICE cars are reaching price parity for the very first time

Apr 26, 2024   written by Autorola

 

Prices of some used BEVs and ICE cars started to reach price parity in Q1 2024 according to INDICATA UK’s white paper.

Entitled ‘Reaching used BEV and ICE car price parity’ the white paper tracks the used retail car prices of all fuel types in the UK from 2020-2024, and importantly the highs and lows of used BEVs.

This includes using INDICATA data to track used prices of five popular BEVs from Citroen, MG, Vauxhall, Peugeot and Hyundai against their equivalent ICE models during 2023 and 2024.

BEV ICE price parity fuels demand

“Price parity is vital for BEVs in the used market as consumers are now being offered all the latest fuel types at similar prices, where before used BEVs were commanding a 25-30% price premium which put buyers off going electric,” explained Dean Merritt, INDICATA UK’s head of sales.

“Price parity is fuelling demand just as the volumes of used BEVs, particularly ex-fleet cars, are increasing which is good news for the entire industry,” he added.

The INDICATA white paper shows prices of used BEVs peaking in Q3 2022 where demand and the chip shortage weakened supply. Prices then fell as OEMs pushed discounted new and nearly new used BEVs into the market coinciding with rising volumes of two and three-year ex-PCP, leasing and salary sacrifice BEVs. This caused prices to crash by over 30% in 2023.

In Q1 2024 there were signs that used BEV prices were stabilising as prices fell by just 1.3% during the three-month period, helping close the gap between BEV and ICE prices as INDICATA’s data reveals.

Peugeot 208 BEV v 208 petrol two years and 20,000 miles

Peugeot 208 BEV and petrol models reached price parity in June 2023 at which point BEVs became worth more than equivalent petrol models. That is how it stayed until both fuel types reached price parity again in March 2024 at £14,250.

Vauxhall Corsa BEV v Corsa diesel – two years and 20,000 miles

From January 2023 the Corsa BEV was worth more than the equivalent diesel model by around £7,000. As of March 2024, the diesel Corsa was worth £16,000 and the Corsa BEV £15,250, which reflects how far market prices have moved on certain models in a brief period of time.

MG ZS BEV v ZS petrol – two years and 20,000 miles

Electric ZS prices have been consistently ahead of used ZS petrol prices by around £1,250 since June 2023. This trend has continued into 2024 with the ZS BEV worth £15,000 compared with £13,750 for the petrol model.

Citroen C4 BEV v C4 diesel two years and 20,000 miles

The Citroen C4 BEV reached price parity with its diesel equivalent in May 2023 at £17,400 but prices continued to fall. As of March 2024, BEVs were worth £14,200 against £16,200 for the equivalent diesel.

Hyundai Kona BEV v Kona petrol – two years and 20,000 miles

Hyundai’s strong zero emission reputation meant drivers paid more for used Kona BEVs during 2023. That trend continued into 2024, with Kona BEVs worth £19,700, £4,700 more than the equivalent petrol model.

“Some brands have already built up a strong BEV reputation and drivers are prepared to pay more for them than ICE cars, but generally our data shows prices have moved much closer together. In the case of Peugeot 208 BEV and petrol models, prices were identical at the end of March 2024 while there was just a few hundred pounds difference between the Corsa BEV and diesel models at the same age and mileage,” said Merritt.

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

Welcome to the Autorola Group newsletter

Feb 29, 2024   written by Autorola



Welcome to our first newsletter of 2024.

Just like 2023 the conversation for everybody is how used BEVs are performing in the individual markets around the world. Visiting the recent ENG remarketing summit in Berlin we had many conversations about all aspects of used BEV trends in particular how cross border sales are helping balance the supply and demand of used BEVs.

In some countries demand is very strong while in other countries dealers and OEMs are looking to export used cars in a bid to make better profits above selling them in their home market.

Cross border trends

In this newsletter MarketPlace global director Morten Holmsten shares with us the conversations he had from ENG with the industry and his conclusion on how cross border is helping boost dealer used car profitability.

Our INDICATA global director Andy Shields and his team also attended ENG and they were discussing used BEV trends with summit attendees. They focussed on the oversupply of used Tesla cars in The Netherlands and how cross border activity helped feed surplus stock into Danish dealers where used BEVs are very popular.

Our latest Market Watch report tells us that sales of used BEVs are slowing up in Europe and hybrids have become more popular as drivers choose them as their first step towards zero emissions motoring. With car makers having to meet strict new BEV sales targets in 2024 it will be interesting to see what impact this had on the used markets.

Customised digital platform

Our Autorola Solutions business unit continues to go from strength to strength and we have published our first case study from Australia. The team has customised Our Fleet Monitor digital vehicle asset management platform to optimise the fleet management for rental company SIXT Australia.

The collaboration with SIXT AU has seen Autorola Solutions deliver a customised digital platform, with brand new features, to optimise its fleet management in a way that fits perfectly with their business model. Our platform is successfully helping SIXT optimise the management of its large diverse vehicle fleet.

Profile on Autorola Brazil

Another area of the global Autorola Group that is going from strength to strength is our Brazil business. We have interviewed country manager Marcelo Cabral de Barros who tells us more about how Autorola is playing a big part in the country’s used car supply chain.

With customers such as VW Financial Services, Toyota Bank, Porsche, BMW Group and Toyota Kinto already in place, with the launch of our MarketPlace remarketing platform and INDICATA’s used car pricing system, Brazil already looks set to perform well in 2024.


We hope you enjoy the latest edition of our newsletter and look forward to reporting more on how the MarketPlace, INDICATA and Solutions business units are supporting customers over the coming months.

 

Best regards
Peter Grøftehauge (LinkedIn)

SIXT Australia launches new digital platform to optimise its fleet management

Feb 29, 2024   written by Autorola

 

SIXT AU is a leading car rental company in Australia, with locations all over the mainland continent and Australia’s largest AV rental fleet. Managing such a large and diverse fleet is not an easy task which is why SIXT AU partnered with Autorola Solutions in the summer 2023, to implement a Fleet Monitor, a customised solution that helps SIXT AU optimise its fleet operations.

Though the partnership is still new, SIXT AU has quickly become one of Autorola’s key customers in Australia, together reaching a complex solution, with expansion of many new features and even introducing a brand-new module.

A better way to manage fleets

As SIXT started its journey in Australia, it realised its current rental system was not sufficient for managing its increasingly more complex fleet operations and needed a more efficient way to handle its day-to-day business. One of the key objectives was to introduce a solution that made the end-to-end management of upcoming vehicle services easier and more pro-active.

Together with Autorola Solutions, SIXT AU implemented an automated solution for servicing alerts, thus enabling it to track and record servicing efficiently, thereby enhancing customers’ service experience. In addition, the solution also introduced the ability to track registrations and inspections, and even introduced a brand-new module, allowing to track all relevant recalls from manufacturers.


Ian Moore, Commercial Fleet and Maintenance Manager at SIXT AU said: “Overall the system creates a proactive way in the monitoring of fleet and the ability to obtain a well-maintained fleet without effecting our renting revenue.”


Fleet Monitor helps SIXT AU enhance its customer satisfaction and loyalty, by ensuring its vehicles are always in optimal condition and ready for rent.

Tailormade solution

The collaboration between SIXT AU and Autorola Solutions has been a success for both parties, as they have worked together to develop and implement a solution that meets SIXT AU’s specific needs and challenges, as highlighted by Ian Moore. He added:

As a start, the real value has been the ability for the Autorola team to configure the system to how we would like it to look. Nothing has ever been too difficult for the team, or any request met with barriers. Obvious benefits are a well-maintained fleet, with the value adds being a view on status and kms ahead of time, to make informed decisions on the best course of action.”

The team of expert consultants at Autorola Solutions has worked closely with SIXT AU to deliver a solution that lived up to expectations, being open-minded to suggestions, to set up a solution that is tailormade to support their business model.


More features on the horizon

With Fleet Monitor, SIXT AU has gained a competitive edge in the car rental market, by leveraging technology to optimise their fleet performance and introduce a customer-centric approach, with more features currently in the works, such as a spare key solution with easy tracking and alerts to ensure efficiency.

SIXT AU looks forward to further optimising its fleet management operations and growing its business together with Autorola Solutions with future ambitions of tracking infringements and creating a sales hub allowing for best case business decisions.

Picture caption: From left to right – Severin Stolberg-Rohr, Autorola Solutions consultant, and Ian Moore from Sixt Australia

 

Morten Holmsten, MarketPlace global business unit director reflects on Autorola’s recent sponsorship of the ENG Remarketing Summit in Berlin

Feb 29, 2024   written by Autorola

 

I have just returned from the excellent 16th annual Remarketing summit in Berlin, which was held by the European Networking Group, where Autorola was proud to be the main sponsor.

This two-day event brought together leaders of the remarketing industry from across Europe for a symposium that allowed attendees to discuss the challenges facing our industry, the wider automotive landscape, and what the future of our business looks like.

 

Used value trends

As part of our sponsorship, we were invited to give a keynote address on the used value trends in a fast-moving used marketplace, with a focus on how we can maximise used car profits within an international business landscape.

It’s an interesting question, as there in no one answer. Instead, it involves the use of data, cross border sales, tax regulation and consumer desires.

Cross border sales

As an example of how all these factors can work together to the advantage or disadvantage of the industry, we looked at the Tesla brand in Denmark and the Netherlands, and how the marketplace changed dramatically in 2022, leading to opportunities for maximising profits via agile cross-border used vehicle remarketing.

We have perfected cross border remarketing over the past 10 years via our MarketPlace platform which brings buyers and sellers together and then our experienced central and country teams manage the paperwork needed to import or export a vehicle from one country to another.

High demand for used Teslas

Because The Netherlands vehicle taxation system favours EV purchases, with a zero rate of taxation on this vehicle type, a discounted company car tax band, and a strong public charging network, demand for used Teslas had been historically high in this territory. By the end of 2022 however, this led to an oversupply of used Tesla vehicles within The Netherlands, which drove down prices as a result.

This created an opportunity for buyers in Denmark, where there is a comparable taxation level on EVs, thanks to their low Luxury Tax banding, and an equally strong public charging network. At the start of 2022, Danish buyers became responsible for 45% of purchases of used Tesla vehicles in the Netherlands which helped them balance supply and demand in their home country.

Demand for Teslas quickly fell

However, as supply and demand levelled out, by the end of 2022, they were purchasing just 5% of used Teslas – so dealers in The Netherlands had to look elsewhere to find a marketplace that offers profitability.

While this is a localised case study, these changes are occurring Europe-wide, and faster than ever before. The market is tightening, and while cross border selling is complex and involves higher transportation costs, it still offers the highest opportunity for profit to help balance supply and demand across Europe.

Data driven remarketing

Due to this level of complexity, the need for data-driven decision making has never been more important for buyers and vendors, and this is where our INDICATA used car pricing platform has become an invaluable tool for decision makers, thanks to the in-depth and up-to-date nature of the data it commands. Dealers can use INDICATA to quickly work out the country where their cars are going to be worth the most money.

Above all, beyond the chance to explain our platform and its benefits to the conference attendees, it was a great opportunity to meet other industry figures, and reconnect with old friends, as we collectively discussed the ways in which together, we can continue to grow in the years to come.

The key take aways from our session were:

  • Europe’s used car market is tightening, and margins are coming under increasing pressure
  • Cross-Border selling is complex, but offers a huge opportunity to boost profitability
  • More than a third of Europe’s used cars offer a cross-border opportunity
  • The potential profit can be €1,000s per car
  • The winners will be those who make proactive data-driven remarketing decisions

We would encourage the remarketing industry to see it as an opportunity, or someone else will. And we can help. We look forward to hearing from you.

 

 

2023 was a record year for AUTOROLA Brazil while 2024 looks set to be even better

Feb 29, 2024   written by Autorola

 

We caught up with Marcelo Cabral de Barros to find out why AUTOROLA Brazil is experiencing such a strong period of growth and expansion.

2023 was an important year for the territory, as we not only enjoyed record growth in sales, with a 3X improvement over 2022, but we also saw a huge 250% increase in turnover in the region, setting record levels for both.

It is equally pleasing to report that both our market penetration and customer retention levels show that this growth is not just a flash in the pan, but rather a foundation from which we can build in 2024.

Solutions

A big driver of this growth has come from the relationships that we have built with OEMs and their banks and leasing companies within Brazil, as well as the consolidation of our Solutions product which is helping these companies to manage their assets effectively and securely in-life and then de-fleet rapidly at the end of contracts.

Our biggest customers are VW Financial Services, Toyota Bank, Porsche, BMW Group and Toyota Kinto, as well as a growing number of smaller Brazilian lease companies, all of which have come to rely on Solutions to manage their vehicles across a wide geographical area.

Marketplace has launched successfully in Brazil with more than 15,000 active buyers

As a minimum, each participating OEM now has its own branded weekly auction on Marketplace, with several brands holding more than this. We also now hold an end-of-month, multi-brand auction for all vehicles, which attracts a large and diverse group of buyers from across the entire country.

Our buyer profile has widened since we launched Marketplace, and while the majority are located in the major cities and conurbations in the South, South East and Central regions of the country following our consolidation within these regions, we will continue to push heavily into the North and North East of Brazil to expand our buyer base further across a wider geographical area.

INDICATA: leading the way for service levels in Brazil

We are investing in which will help to integrate into the OEM and dealer networks in Brazil. We are confident that by focusing on dealer groups first, then lease companies, and finally OEMs, we can instill INDICATA into the Brazilian used car market from the ground up. Considering that there are currently more than 7,000 OEM dealers across Brazil that could benefit from INDICATA, there is a huge opportunity for our growth in this sector.

Feedback from existing customers is that the transparency that Autorola and its associated products bring to the used car market in Brazil is a unique differentiator, which will allow us to expand and further integrate our service offerings within the automotive landscape in the future.

To this end, we are planning to integrate our three business units further in the coming year, so that we can offer a holistic service package to our Brazilian customers, which would make for a truly unique proposition in the territory.

 The used vehicle market in Brazil shows no signs of cooling off

The way in which the Brazilian market favour used vehicles over new is unique to the territory, and largely driven by the limited availability of new cars in Brazil. In 2023, just 2.2 million new vehicles were registered, while more than 14 million used vehicles changed hands.

As a result, the used car market in Brazil is one of most aggressive territory in the world, and this level of buyer competition provides a great backdrop from which to sell our products.

Secure asset management for the leasing companies and banks, easy de-fleet capabilities, high conversion rates at our auctions, and of course, accurate valuations help both vendors and buyers alike to keep the Brazilian market buoyant.

We look forward to continuing our growth and diversification in 2024.

Maximise used car profit and streamline your operations all in one platform

Feb 29, 2024   written by Autorola

 

‘Big data’ and ‘AI’ are terms already prevalent in the market but in 2024 Autorola predicts these are going to become even more important to support strategic decision-making.

 

Optimise your business with data insights

Working intelligently with data allows fleets to monitor their flow and to configure key focus areas; from timely call back of cars on the road, to actual returns, return inspections, and aftersales processes.

 

Risk management and cost saving are central issues in vehicle fleet management and every fleet manager wants to achieve large returns with low costs.

 

Ib Kimose, director of Autorola Solutions said: “Each day an asset is standing still on the compound without moving onwards in the flow, it depreciates, while at the same time accruing cost to storage. Delays impact largely on fleet management businesses and are directly linked to the final sales price and margin obtained. This has a direct impact on an asset owner’s cashflow.”


Data-driven approach to profitability

Autorola’s answer to this is to redesign your digital landscape and set it up to identify opportunities within your ecosystem. The idea is to look at the areas that can be optimised within your business, and then apply data analytics and digitalisation to highlight the “hidden opportunities”.

 

This is achieved with Fleet Monitor which is a single platform solution that gives asset owners access to a wide range of features and capabilities, including fleet monitoring and converting real-time insights into market trends. It helps streamline operations and optimise businesses.

 

 

It is designed to improve overall performance by combining real-time market data with customised process management. This will allow companies to stay ahead of the competition and make informed decisions to maximise output and minimise risks.

 

Choosing a bespoke solution for businesses

At Autorola, we understand that every business is different which is why Fleet Monitor is designed to be customisable to a company’s specific needs. The platform can be tailored to best support a specific business model and can even be seamlessly integrated with external systems, allowing you to plan and control all systems and activities from one single point.

 

Autorola’s systems, as a single platform solution, offer a tool to extract valuable insights into a business enabling customisation to support different business methodologies. In Fleet Monitor’s case this extends from acquisition to sales – and everything in between.

 

Seamless integration

Additionally, Fleet Monitor seamlessly integrates with Autorola’s entire range of products, including INDICATA forecasting, the next generation of business intelligence and market insights software for the management of used vehicle inventories.

 

With this, companies have the advantage of their entire fleet sitting within one platform with direct access to residual value forecasting on stock in real-time courtesy of our INDICATA used car pricing and insights platform. This enables companies to stay ahead of the market and to optimise sales strategies and maximize used car profits.

 

Insight into every part of a business

Our platform provides valuable insight into every part of a business; whether it is KPI reports, sales statistics, overall inventory flow or user behaviour, Fleet Monitor allows companies to support businesses based on data insights, whilst helping improve services and lead-times.

 

This combination of real-time market data, customised process management, and flexible customisation options provides the right tools to succeed, and a dedicated consultancy and support team that is always ready to help to optimise their investment.

 

Companies looking for an effective end-to-end solution to manage all vehicle stock in real-time, should contact us for a consultation. https://autorolasolutions.com/contact/

 

INDICATA’s latest Market Watch report shows used BEV sales continuing to fall across Europe

Feb 29, 2024   written by Autorola

 

Used BEV sales continue to fall across Europe according to INDICATA’s latest Market Watch used car insights report, while Market Days’ Supply of BEVs is now double that of ICE cars.

Consumers appear to be looking to used hybrids as their first step towards zero emissions rather than moving directly from ICE to BEV.

 

Diesel sales continue to fall alongside BEV across Europe

 Diesel vehicles have fallen in market share across Europe, and now account for just 21.7% for vehicles under four years of age. At the same time, BEVs have also dropped in their market share and now make up 4.11% of the online used B2C used vehicle market.

 

Hybrid powertrains continue to increase in popularity

A rapid rise in the popularity of hybrid powertrains across European markets has seen this vehicle type rising to an all-time high of 15.29% of the used car market. Within this, the more traditional plug-in hybrid and hybrid electric vehicles remain the most popular but are closely followed by mild hybrid vehicle types.

 

It is reasoned that this rise in popularity is down to consumers wanting hybrid vehicles as an interim step before the adoption of pure battery electric vehicles, with buyers remaining unsure about transitioning to a purely battery-powered vehicle, without the aid of an internal combustion motor alongside it.

 

Petrol remains the fuel of choice for buyers

Petrol vehicles accounted for more than 44% of used vehicle sales in Europe in January, and have outperformed BEV and hybrids in value retention, remaining level with diesel in this regard. Petrol vehicles have seen a slightly longer Market Days’ Supply than diesels (67 and 65 days respectively) however these are outperforming BEV significantly by almost 50 days.

 

New car supply has returned to pre-pandemic levels

With the semiconductor shortage now over, and new vehicle sales returning to normal, the market has seen a return of manufacturer-backed tactical sales, with pre-registered and nearly new used-cars now re-entering the market in increasing volumes, with a more than 7% month on month rise having been observed.

 

Fastest and best-selling vehicles
January’s top selling vehicle (up to 4 years old) in Europe was the Volkswagen Golf, while the best-selling hybrid vehicle was the Ford Puma, and the best-selling BEV was the Renault Zoe. The fastest-selling vehicle overall was the Toyota Prius+ hybrid, followed by the ICE Opel Corsa, while the Opel Mokka X was the fastest selling BEV.



To read the full details of the report and learn more about each territory in depth, please view the latest Indicata report which is available now. https://www.indicata.com/marketwatch

Welcome to Autorola Group newsletter

Dec 12, 2023   written by Autorola



2023 seems to have flown by quicker than any other year I have known, but during this period we have achieved a great deal across all 20 subsidiaries of our business.

We have seen our MarketPlace online remarketing platform sell more used cars than ever before and it continues to play a major part in managing cross border sales as cars continue to move around Europe in search of the best prices and to balance the supply and demand of used cars.

BMW Group has now been collaborating with us for just over a year and we have provided an update on our pan European remarketing contract where the aim is to optimise used car values by selling vehicles in countries where there is known to be the highest demand.


Healthy growth

Meanwhile, our Autorola Solutions and INDICATA business units have achieved very healthy growth as fleets spend more time on looking to control and managing their assets by introducing more workflow processes and using more Big Data to help them make strategic remarketing decisions.

Talking of Big Data, we are all ready to launch our new INDICATA Forecasting product in Europe in early 2024. In this newsletter we give you a first view of the power of its pricing forecasts as The Netherlands publishes a white paper into the predicted impact on used BEV prices in 2024 and 2025 based of the peak in registrations of new Tesla Model 3s in 2019.

Make sure you download a copy of the white paper and contact your INDICATA country contact to arrange a Forecasting trial in the New Year.

Acquiring 100% ownership

As we write this last newsletter of 2023, I am excited to share that I have acquired 100 percent ownership of Autorola Group, buying out the remaining stake owned by my brother Martin. After 30 years it is a ‘natural evolution’ with Autorola Group set to continue at the forefront of innovation in global remarketing within the automotive industry with effective technological solutions for our clients.

I am eager to strengthen our position in the market. As we look to the future, we remain optimistic and ready to face new challenges with the same dedication and passion that has defined our journey so far.

I would like to take this opportunity to wish you and your families a Merry Christmas and a very Happy New Year.

 

Best regards
Peter Grøftehauge (LinkedIn)

Our group CEO Peter Groftehauge looks back at an exciting and successful 2023 for Autorola and is already looking forward to a busy 2024

Dec 12, 2023   written by Autorola

 

2023 has gone faster than any year I can remember but that’s probably because so much has been going on across the Autorola Group.

 

We launched our partnership with Al Futtaim Automotive in January, which gives us presence in the Middle East for the first time and launched our 20th subsidiary.

 

New INDICATA Forecasting product

Our INDICATA colleagues have been working hard on preparing their new Residual Value Forecasting product for launch in early 2024 which should transform the way leasing and rental companies, banks and finance house’s structure and manage their remarketing strategies.

 

Autorola Solutions has had more visibility at exhibitions and conferences around Europe and the Middle East while our MarketPlace online remarketing platform continues to go from strength to strength with buyers and pan European vendors such as BMW Group and smart.

 

Recognition from Ernst & Young 

We are pleased that our Group received recognition once again as I was awarded the EY Entrepreneur of the Year™ Regional prize for the Funen region of Denmark.

 

The EY Entrepreneur of The Year™ award is a globally renowned program and the most prestigious recognition for entrepreneurial excellence, is also celebrated as a symbol of a forward-thinking business mindset.

 

It acknowledges the extraordinary accomplishments of entrepreneurs in more than 60 countries, and I would like to thank my colleagues around the world for helping to make this award possible.

 

Fleet Europe Remarketing Hall of Fame

Also, during our 10th year of supporting the Fleet Europe Remarketing conference they surprised me by entering me into their Remarketing Hall of Fame.

 

They celebrated my contribution to the development of the international remarketing industry and to the power of online used car selling since 2001, even before the Internet was a mainstream trading tool. Thank you, Fleet Europe, for this recognition, and once again this would not be possible without the support of the 730 Autorola colleagues around the world.

 

I was lucky to join Tim Albertsen, CEO of Ayvens, who won the 2023 Fleet Europe Hall of Fame Award who is also Danish.

 

Becoming the 100% owner of Autorola Group

And if that wasn’t enough, I finished the year by acquiring 100 percent ownership of Autorola Group, by purchasing the remaining shares of the business from my brother Martin who I have worked with since we launched the business in 1996.

 

It will continue to be business as usual with me focused on keeping the Autorola Group at the forefront of innovation in global remarketing within the automotive industry. Our commitment to delivering user-friendly and effective technological solutions for our clients is unwavering, and I am eager to strengthen our position in the market. We remain optimistic and ready to face new challenges with the same dedication and passion that has defined our journey so far.

 

2024 looks set to be an exciting year

Looking ahead to 2024, I look forward to the rollout of the Indicata Forecasting product across Europe and Brazil and exploring new markets in the Middle East. Furthermore, a strategic focus will be to integrate big data and AI to continue to deliver state-of-the-art solutions to the global automotive industry. It already looks like being an exciting next 12 months for the group and we anticipate reaching 1,000 employees worldwide by 2028.

 

 

Global Marketplace Director, Morten Holmsten, updates us on Autorola’s pan-European remarketing contract with BMW Group

Nov 14, 2023   written by Autorola

 

In the summer of 2022 Autorola’s B2B online remarketing platform was onboarded by BMW Group, opening up an additional remarketing channel for their national sales companies, Alphabet Fleet Management and BMW Group Financial Services to sell used stock cross-border. The aim is to optimise used car values by selling vehicles in countries where there is known to be the highest demand.

Currently BMW and MINI dealers in 16 countries can buy used cars on the platform. Recently added countries include Switzerland, Czech Republic and Romania.   

BMW’s national sales companies, Alphabet Fleet Management and BMW Financial Services can upload their ex-lease, rental, and company cars onto the closed Marketplace European platform to provide franchised BMW and MINI dealers with access to their used car stock. Everything is focussed on keeping used cars within the BMW Group network.

Vehicle inspection

In addition, the platform manages the vehicle inspection process and displays vehicle descriptions and imagery in a consistent style, standardising the presentation of vehicles inspected by multiple companies and different types of inspection software. Autorola Marketplace’s platform is also multi-lingual, ensuring a user-friendly interface, to make it easy for as many dealers as possible to engage in cross-border buying.

VAT and luxury taxes are another challenge that Autorola manages efficiently, having been at the forefront of cross-border used vehicle trading for two decades. The VAT and tax element of each transaction is managed in the individual Autorola countries with colleagues assigned to manage the paperwork fast and efficiently.

Centralised vehicle logistics

Vehicle logistics is another area where Autorola’s experience comes into its own for the fast and efficient collection and delivery of vehicles.

All vehicle logistics are managed centrally by a team in Denmark, who plan the fast and efficient vehicle collection and delivery, from country to country. By centralising this key role, the logistics team are continually focussed on filling trucks with used cars to make the cross-border deliveries as cost efficient as possible.

INDICATA powers all the data insights such as the export index, which values individual cars in individual countries, while Autorola Solutions Fleet Monitor workflow management system pulls all aspects of the service together in a single place.

Export index launched

“Our platform has been very well received. We have developed an export index for sellers to make it easier for them to decide which used cars to export to receive better prices outside their home market.

“If you have a lot of similar cars coming back from a lease contract, then export is a strong option. It enables vendors to spread the risk across different markets to avoid saturation, at the same time optimising values model by model.

“It enables unwanted, repeat, or overage stock to be made available within the confines of the BMW family, thus matching up supply and demand.

“The majority of stock coming onto the platform is between three and 12 months of age. Franchised dealer networks want younger used cars as there has been a shortage over the past three years due to Covid-induced vehicle production challenges. The same concept will also work well for older used cars,” said Morten.

One in three used cars are exported

Typically, Autorola is seeing 30% of all used cars it sells in Europe as cross-border transactions and that figure has remained consistent for a long period of time. It has been the main driver for helping companies adopt an efficient cross border used car policy as a seamless part of their overall remarketing strategy.

Seamlessly working together 

“For the Autorola Group it has been very exciting to see the power of our three business units working seamlessly together – the online Marketplace remarketing platform, INDICATA’s real time used car pricing data and Autorola Solution’s Fleet Monitor asset management platform.

“It has shown how powerful the three units are when they are brought together and is how we aim to sell our business proposition in the future. A modern remarketing strategy involves used vehicles being sold online, while asset owners need access to data insights to ensure they make strong strategic decisions both at a micro and macro level.

“The power of Fleet Monitor means everything is managed in real-time from a vehicle order to disposal. The workflow technology remains a unique proposition for our group,” he added.

 

“The first 12 months of the BMW contract has been very productive and has put the group in good shape just as used volumes show signs of increasing across Europe. BMW Group is in a great position to manage those used cars, which aren’t going to stay in their individual countries, more effectively. Over the next three years of the contract, we will constantly develop the platform based on BMW feedback, to further optimise its cross-border remarketing.