NEWS

Merry Christmas as the global remarketing industry joins us online

Dec 11, 2020   written by Autorola

2020 has been the year many of us will prefer to forget, but for Autorola the global pandemic has meant more vendors and buyers are selling and buying more used cars online than ever before.

Our vision for more than 20 years has been that online remarketing makes much more sense than physical for many reasons. It seems the majority of used cars are now being traded online in Europe and many vendors and buyers have told us they don’t want to go back to selling and buying used cars physically. It proves that our vision has become reality.

This coincides with being shortlisted for two awards. One we have shared with you was the Fleet Europe remarketing award for the excellent INDICATA Market Watch report which my colleague Andy Shields and his team have delivered. In addition Ernst & Young shortlisted us in the Danish category of their EY Entrepreneur of the Year competition. This is a Europe-wide competition which rewards companies such as Autorola for their work and dedication in delivering excellence within industry in a dynamic and innovative way. It rewards us for our online vision and consistent delivery across more than two decades.

Being rewarded for our online vision
The eventual winners in the Fleet Europe awards have adopted AI and digital technologies for remarketing used cars. We hope that we have played a small part in giving suppliers confidence in encouraging companies to switch to trading online within our sector, which historically has always been a very conservative and slow to change.

Our Autorola Solutions asset management business has also been very busy during Covid digitising businesses globally. Managing assets from car production to remarketing is just one of the many benefits Solutions can provide asset owners. With delays in some areas of the supply chain during 2020 it was even more important to have a complete picture of your assets in real time to enable you to make proactive decisions to manage these delays.

Used dealer stock is increasing as sales are impacted by Covid
Managing used stock during the pandemic has been a challenge for all businesses across Europe which is why we launched our INDICATA Market Watch report. It traces used car sales, pricing and stocking trends in real time across 13 countries and the November report confirms that dealer stocking has finally improved just as many lockdown restrictions have come into play. Being able to share our insights into these trends and then devising strategies on how to manage stock during these difficult times is exactly why we launched the report. We hope you find it useful and if you ever miss Market Watch go to www.indicata.com/corona where we host the latest report.

It’s time for me to sign off for 2020 and to wish you and your families health and happiness at Xmas and in 2021.

Best regards
Peter (LinkedIn)

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We are still close – from a distance

Dec 11, 2020   written by Autorola

As the first repercussions settled after the Covid-19 reality poured over the entire world in the early spring of 2020, we started to rearrange our lives to function in this new reality, which after a while, became the new normal for many of us.

This meant changes in our everyday lives, both private and work-related, and we are still facing these challenges with both Government supervision and guidelines, as well as with big caution in everything we do in the public space.

As we wrote in our last Newsletter, for many of our customers, this meant that the need to digitalise became even more evident. Stay efficient – stay ahead 
For Autorola Solutions that also meant that we have been busy successfully implementing digitalisation projects with our customers all this year. And we have done so in close dialogue and collaboration with our customers – online.

For us in Autorola Solutions, the dialogue and close collaboration with our customers is imperative in delivering the right solutions. We need to understand your business, your market, your organisation, strategy and operations. We also need to be there with you to run the projects from start to finish – from kick off until we implement, and in the follow up.

Usually we are with you wherever you are, and a typical day for us holds travels to many destinations in Europe, Mexico, Australia and the US. Here we do what we do best: We meet you, talk to you, understand you, and together find the best solution for you.

This year, we have stopped almost all travel activities. But that does not mean that we have been with you less – it only means that the way we interact has been online by video and calls. And we still deliver solutions all over the world.

We have been happy to see all our customers being just as engaged and dedicated to our projects as before the pandemic. Thank you all for being here with us – in this new normal. We look forward to visiting you all in the new year ! Until then, we wish you a Merry Christmas and a Happy New Year 2021.


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Autorola Group shortlisted for two European awards – leading the way in online remarketing

Dec 11, 2020   written by Autorola

Ernst & Young Global Consulting Services shortlisted our group in the regional final of its Danish Entrepreneur of the Year awards. It praised Autorola’s vision of selling used cars online from the late 90s and has been impressed on how it has scaled it into a global online business over the past few years with 19 subsidiaries.

The Autorola Group philosophy
The Autorola team enjoyed the experience immensely and made a film for the judges where group CEO Peter Grøftehauge brings the Autorola culture and philosophy to life directly from our global headquarters in Denmark. See the film.

Autorola was up against some very innovative businesses in the awards which in the end were won by Carl Hansen & Son, the iconic Danish furniture manufacturer for its environmental focus on recycling waste products.

Pioneering the use of AI and digital technologies
Autorola shared its Fleet Europe remarketing award shortlist news in the last newsletter and while we didn’t win we would like to think its use of Automotive Intelligence and digital remarketing strategies over the past few years inspired other businesses in the used car awards to do things in a different way.

The Covid-19 pandemic has seen all the physical remarketing companies around Europe join Autorola in selling used cars online, and vendors and buyers are enjoying the experience. CEO Peter Grøftehauge and his family set up Autorola based on a vision of selling used cars online and over 20 years later this vision has come true.

Speeding up the industry’s move to online remarketing
The Covid-19 pandemic has speeded up the industry’s move to online remarketing by at least 10 years and now that vendors and buyers are selling and buying online many will never go back to physical again. Autorola looks forward to welcoming more customers online in 2021.

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Covid-19 fuels used car pandemic in November as sales fall 15.6% year-on-year reports INDICATA

Dec 11, 2020   written by Autorola

Covid-19 lockdowns, trading restrictions and circuit breakers created havoc within Europe’s used car industry sales in November according to INDICATA’s latest Market Watch insights report.

November reported a 15.6% fall in sales against the same period in 2019. Out of the 13 countries covered by the report only three, Germany, Italy and Portugal saw used car sales growth of 7.7%, 2.1% and 9.6% respectively with the remaining 10 all reporting a fall in sales. France, Turkey, and Poland were worst hit reporting a dramatic 40.1%, 34.5% and 28.9% fall.

Markets shut down just as new stock is arriving
This comes at a time when dealer supply finally improved in many markets during November following months of used car stock shortages.
That compares with the 12.5% average year-on-year sales increase INDICATA reported in October showing how dramatic the peaks and troughs have been for Europe’s used car industry during 2020.

Dealers are sitting on used stock bought at the height of the market
Dealers in Spain, France, and the UK in particular are now sitting on stock levels above where they were in June, much of which was purchased at higher prices in late Autumn and early Winter. Consequently, used car managers and remarketing professionals will have to plan their pricing strategies very carefully in the coming months, according to INDICATA’s global director Andy Shields.
He said: “The time that all vehicles sold regardless of their desirability, age and mileage has now gone and reviewing a vehicles market attractiveness with a data driven approach and pricing on a daily basis is vital to entering 2021 in as strong a position as possible.

Dealers need to fine tune prices during December
“Managing stock supply in a month that is seasonally very quiet involves dealers fine tuning price by gauging the demand of stock within their geographical area. That means reducing prices on the stock that they know is aging or less attractive and holding price of the cars they know are in demand and short supply locally. It involves a very steady hand on the tiller for the next couple of months,” he added.
In November diesel and petrol sales were down while hybrids and EVs increased year-on-year but overall stock turn on the low or zero emission vehicles has been challenged by an oversupply and high prices.

Download the report here.


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Introduction from CEO Peter Grøftehauge

Nov 24, 2020   written by Autorola

At the yearly Fleet Europe event it was a great chance to see colleagues, friends and customers albeit online and it was a reminder what a vibrant industry we are all part of. The used car industry in particular is very resilient as our monthly INDICATA Market Watch reports show.

10 Covid-19 used car reports published
We have published 10 reports this year following the effects of Covid-19 on used car markets in 13 countries and just as the industry was getting back on its feet lockdown 2.0 has impacted sales and prices once again.

Our INDICATA global director Andy Shields presented to the Fleet Europe audience some of the statistics where one moment a country’s sales were down 80% year-on-year and then the following months sales are up by a few percentage points. Andy shares some of those valuable insights in this newsletter and reinforces the importance of using a portal such as INDICATA to proactively manage used car stock and pricing during these difficult times. It brings to the fore the power of big data down to dealer level.

Autorola Turkey launches car buying service
Turkey is one of the most buoyant used car markets in Europe and our team have been piloting a new C2B car buying service over the past few months under the Autocom brand. It has set up three vehicle handover centers in Istanbul and purchased 100 used cars from motorists.

Autocom is launched in January and it aims to buy 1,000 used cars a month and expand to other cities in Turkey. Powered by INDICATA used car data is provides a true online pricing proposition backed up by the peace of mind of having the trusted brand of Autorola behind the transaction. We wish Oğuzhan and his team well with the new project.

I am sure the used markets around the world will have some more surprises for us before we end 2020. Stay safe.

Best regards
Peter (LinkedIn)


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European used car dealers increase stock levels as lockdown 2.0 market slowdown begins

Nov 24, 2020   written by Autorola

Our October Market Watch insights report reported an average 12.4% year-on-year sales growth across 13 European countries. 11 out of 13 countries saw dealer stock levels increase, with supply now appearing to be coming back into the market. Key movers were Spain, France and the UK, increasing stock levels by 9.0%, 7.9% and 7.4% from the 1 October to the 1 November respectively.

However, just as supply and dealer stock levels start improving Covid levels have increased and tighter lockdowns have been imposed in a number of countries. This means the current used car bull market of short supply and rising prices is coming to an end.

Dealers need to manage their used car stock pricing
The challenge is for dealers to manage their used car stock pricing and stock turn using real time data from INDICATA as demand starts to soften in many countries.
During October countries such as Portugal, Turkey, France, Italy and Germany reported year-on-year sales growth by as much as 31.1%. This was balanced by countries such as Sweden, Austria, Poland and The Netherlands which experienced a year-on-year fall in used car sales.

Petrol and diesel stock turn is strong compared with EVs
Dealer stock turn for diesels and petrols at 7.4 and 6.7 eased back marginally from September but both fuels remain in short supply. That compares with EVs and hybrids which delivered a 4.5 and 5.3 stock turn during the month where supply is freer and prices less stable.

There has been a consistent demand for used cars of all ages with the five-year old car comprising the consumer sweet spot. Meanwhile, sales of sub-12-month old cars continues to struggle due to poor stock levels (illustrated by a 23% year-on-year increase in stock turn).

OEMs show little interest in tactical pre-reg and 0km activity
With EU27, EFTA3 and UK new car sales down by a total of 38.7% in Q3, OEMs are demonstrating little interest in supporting tactical pre-reg and 0km sales campaigns so sub-12-month old car stock levels are not likely to improve any time soon.

“During October we saw dealer stock levels increase as further part exchanges and ex-lease vehicles came into the market. This follows many months where supply has been restricted and dealers scrambled to find stock,” explained Andy Shields, INDICATA’s global business unit director.

Dealers need to balance their used car books carefully
“With the risk that Lockdown 2.0 impacts consumer demand in many countries, some dealers may have overstocked for November. December is traditionally when demand softens so those dealers are going to have balance their used vehicle books very carefully to the end of the year.

“We are already seeing some price adjustment to keep sales ticking over and as we move into 2021 and delayed lease returns start coming on to the market, dealers and remarketers should be revisiting their pricing strategies on a regular basis.

“With specific models showing real signs of oversupply, each vehicle now needs individual pricing based on trade or retail benchmarks and by reviewing saleability in the market.” he added.

Find the Market Watch report on www.indicata.com/corona


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Autorola Turkey launches C2B Autocom car buying service

Nov 24, 2020   written by Autorola

Autorola Turkey is launching an exciting new car buying service in January through its new Autocom brand, which will see it buying used cars off the public for the very first time.
With a used car quoting engine powered by INDICATA pricing data consumers visit www.autocom.com.tr to work out the value of their own car online. Once they are happy with the price, they visit one of three drop off points which Autorola has set up in Istanbul to hand over their car.

Final inspection
Each drop off centre carries out a final inspection of the car against the information given by the driver and then a final price is agreed and payment is transferred within 3 hours.
Autorola has completed a successful trial over the past few months which has seen it buy 100 used cars off motorists and the feedback has been very good. These cars are immediately uploaded to Autorola Marketplace’s online used car portal to sell to the wholesale motor trade.

Targeting professional people
“We are targeting those professional people who are time poor who want a reliable and hassle-free car selling service from a corporate partner they can trust,” explained Sencer Alagöz, Autocom Turkey’s Sales Director.

“Those 100 drivers who have used the service have been very happy and we look forward to rolling out Autocom in January. We hope to be buying 1,000 used cars per month from drivers by the end of 2021,” he added.

Extending Autocom to other Turkish cities
Once the service is launched in Istanbul, Autorola will be looking to extend the Autocom car buying service into other major cities in Turkey such as Ankara and İzmir which will include setting up new handover centers.

The power of INDICATA lead generator has also seen Autorola sell this pricing engine to other car buying services who then bespoke the prices according to their own business strategies.
Companies who would like to find out more about buying INDICATA lead generator should email Aslı Göker on asl@indicata.com.tr.


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Stay efficient – stay ahead

Nov 24, 2020   written by Autorola

 

The World has changed and 2020 has presented us with a new reality. One we never saw coming and one that has brought much disruption. Now we need to understand how to cope with this new reality.

Just like every other industry, fleet and automotive have faced these sudden changes and experienced a workplace that had to immediately adapt to social distancing and workplaces moving from the physical space to an online setting. This increases the need for more efficient and structured digital platforms for managing and selling cars in a time that requires you to rethink your business: Strategically, tactically, and operationally.

Due to several disconnected internal systems that are poorly consolidated, organizations have lacked a total overview over their assets. The big task is now to tool up and make sure that your employees are best equipped to succeed in the online workplace.

Autorola Solutions provide you with a 100 % browser-based online tool to continue working efficiently, even in remote settings. Gain access to all your assets online and interact real-time with your co-workers, suppliers and network, across countries, branches and distances.


With the Fleet Monitor at the center, you continue your day-to-day business uninterrupted and with everything you need right at hand. Just access our web-based tool from any device, from anywhere at any time and you have full access to work with your cars and continue doing business – as usual.

Interactive asset overview
With Autorola Solutions Fleet Monitor, you, as a fleet owner, instantly access your entire car park with detailed descriptions and commercial photos and start work. No matter where you are, you have instant access to all cars and know exactly what the state of the car is and what it is worth. That is transparency and trust in one flexible solution that can be customized to your needs. Design your perfect way of working and roll out across your organization. Scalable, secure, safe and simple.


Digitalization is an investment in the future and a natural way to ensure business continuity in unexpected and unprecedented realities. Keep moving forward when the world changes overnight with our online, practical, adaptable and mobile solutions.

Learn more about our solutions
Autorola Solutions Fleet Monitor is proven to help businesses streamline processes, improve efficiency and performance, as well as making sure all activities are compliant. Our collaborative platform provides you with a powerful tool to reduce your operational costs and mitigate both operational and financial risks and our communication module is an integral part of creating a service-minded platform.

We simplify every part of your fleet and resource management.


For more information, please contact Ib Kimose, Director AUTOROLA Solutions, mobile: +4561629916, e-mail: iki@autorola.com
Read more on Autorola Solutions


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Autorola Group shares lockdown used car insights with Fleet Europe audience

Nov 24, 2020   written by Autorola

The Market Watch used car insights report was launched by INDICATA in February 2020 to give remarketing professionals an idea of how the Covid-19 virus was impacting the market in 13 countries. The insights have given companies valuable insight which has helped companies develop strategic decisions about their used car and remarketing programs.

INDICATA’s global director Andy Shields was asked to present some of the report’s findings at the magazine’s first ever virtual summit.

Despite Covid-19 Europe’s used car industry has been resilient
The Market Watch report powered by INDICATA data was able to show how the severity of lockdown dramatically impacted 13 used car markets in Europe. Each country’s used car sales, supply, prices and dealer stocking levels were all impacted at various levels, but ultimately as we move into the end of 2020 the market has been very resilient.

At its lowest point average sales in April were 52.75% down year-on-year from the same month in 2019. However, sales were only down for March, April and May, while the remaining seven months to the end of October sales actually rose with September the peak month rising by 17.33%.

Market performance varies country by country
Andy also shared slides on how the depth and speed of market recovery was based on how severe the lockdown was by country using The Netherlands, the UK and Poland as country examples.

The Netherlands which suffered more of a relaxed lockdown with dealers still trading saw the largest sales fall of 15.7% in March and from there on the market has grown year-on-year to a July high which saw a 21.6% growth in the month.

The UK saw the largest market fall in April of 89.7% as dealers closed while the market came back quite quickly during June and July post lockdown. The Polish recovery meanwhile was remarkable in that it fell during March, reached rock bottom (down 71%) in April and then in May moved 79 percentage points to sales being 2.1% up year-on-year. Performance has stayed in line pretty much the same as 2019 ever since.

What the future brings
• But as 2021 looms demand remains outside of new lockdowns while stock is becoming more available
• Prices are firm on traditional powertrains, but EV prices are less stable despite volume growth
• BEVs remain in very free supply but how will prices shape up in the future?
• Prices are weakening in some markets as supply catches up with demand, but what will the impact on prices be?

To receive your free monthly Market Watch used car report go to www.indicata.com/corona.




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Introduction from CEO Peter Grøftehauge

Oct 28, 2020   written by Autorola

Welcome to our October newsletter, we hope Q3 was a healthy quarter for your business as countries moved out of lockdown.

There are signs that Q4 will be another good quarter for the used car sector, although we are starting to see the big new car sales push for EVs and hybrids impact on pricing of used cars.

Stock turn of EVs and hybrids is slowing
Pricing is starting to slow, and stock turn is also considerably lower than petrol and diesel cars which are in short supply. It will be interesting to see how this pans out to the end of the year and our INDICATA director Andy Shields looks at these insights in a little more detail.

He will also be speaking at the virtual Fleet Europe Summit which has been announced for mid-November. All three divisions of the Autorola Group will be in attendance and while we are sad we can’t see you in person, the summit will be the next best thing.

Our Marketplace director Morten Holmsten will also be on the jury and our Solutions director Ib Kimose will be in attendance.

We look forward to networking with you and encourage you all to stay safe.

Best regards
Peter (LinkedIn)


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