NEWS

Introduction from Autorola CEO & Founder, Peter Grøftehauge

Jun 24, 2019   written by Autorola

Hello and welcome to our latest edition of the Autorola Group newsletter.

This newsletter follows soon after our annual country managers meeting which this year was held in the beautiful city of Istanbul, Turkey. The annual event serves as both a strategy workshop to align future business expectations and goals, and as a social gathering that unites the local countries with the Autorola Group spirit.


As in previous years, the event proved to be another great success and I would like to personally thank those who attended for sharing fascinating insights into their respective markets, as well as sharing best practice from across the globe.

This ‘togetherness’ is what makes Autorola Group the respected and successful business it is today – and for that I would like to extend my thanks to our entire global workforce.


Pertinent reminder

Hosting the meeting in Istanbul proved a pertinent reminder as to the challenges and opportunities impacting on the automotive sector. With the weakening of the Turkish lira against the dollar and euro; decreasing growth rates; rising unemployment rates; and high inflation figures the Turkish economy is facing challenge and with it comes implications for the automotive sector.


However, this ‘negative’ impact also providing opportunity within the used car market especially for Autorola Group and the many businesses we support. With our agile and innovative approach to business, combined with our inhouse expertise and advanced technology, we pro-actively aim to provide the necessary solutions to our business partners across the world – the integration of Fleet Monitor and INDICATA (details within this newsletter) being a prime example of that.


I very much hope you enjoy this edition of the Autorola Group newsletter and all the market intelligence, data insights and product information it brings.

Regards Peter


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Autorola Solutions digitises car dealer consolidation in Germany

Jun 17, 2019   written by Autorola


As dealer groups around Europe consolidate, so the challenges of integrating multi-franchise, multi-site operations continue to grow.

Autorola Germany sees the biggest challenge of consolidation is joining together computer systems, which are specified by the vehicle manufacturer as part of the dealer franchising agreement. A single dealer group may be running seven to eight different IT systems and partial solutions across several different franchises.

For many dealer groups, the benefits of buying a business and integrating into their own network is huge. However, immediate economies of scale can be limited as different IT infrastructures from OEMs do not integrate with one another. There can even be challenges in joining data with other dealers in the same network.

Dealers face challenges when buying a new business

“Merging balance sheets is usually a simple process but everything else is determined by the complexity of each system specified by the OEM. There is no Europe-wide acceptance of a single dealer management system (DMS), so a dealer group is faced with challenges once they have acquired a new business,” explained Andreas Kunkat, sales director, Autorola Solutions.

“Used cars is one major problem area. Thanks to online sales the market has grown rapidly, and prices are extremely volatile. A dealer group may have hundreds or even thousands of used cars in stock across its business but, generally, managing stocking days and the lead times to buy, as well as  preparation and sales is reactive.”

Autorola Solutions helps provide one point of reference for used car stock management

Andreas continued, “There is usually no one digital point of reference where a group used car manager can oversee the status of each vehicle and make proactive decisions. That is where Solutions, with our Fleet Monitor suite, is providing a valuable IT tool for dealer groups, manufacturers and leasing companies in Germany.”

Solutions’ asset management platform digitally and intelligently connects all the dealer’s group data, from purchasing and supply, to used cars and human resources. It is completely modular and can be configured and customised by the individual requirements within the existing IT-architecture.

“We integrate systems and software that are in place – or have to be there – and add what is missing such as interfaces, data transfers or automated order modules,” explained Andreas.

Autorola Solutions efficiencies drives greater profitability

Autorola Solutions enables dealers to proactively make decisions across a multi-franchise business enabling a business to benefit from the economies of scale associated with acquisition much sooner, whatever OEM franchises they own. When profitability, in typical dealer group operations, is just three to four per cent then these efficiencies are vital to give the shareholder a return on their investment.

Andreas said, “When we work with a client we are able quickly to transfer a dealer’s group vehicle assets into our Fleet Monitor asset management system, so they can see the status of every single vehicle from its new car production status to where it sits within the remarketing pipeline. We intelligently connect all business processes. Defined KPIs are easily controlled and analysed to reduce the overall lead-time per car.”

INDICATA market insights help reduce stocking days

“The recent integration of our INDICATA real time, used vehicle market insights platform with Fleet Monitor further supports the dealers’ ability to price used vehicles competitively within their local market, as well as ensure they only buy new stock they know is in high demand. The integration of INDICATA in Autorola Solutions enables automated pricing based on defined strategies per car type, segment, popularity etc. It significantly optimises used car profitability and reduces additional stock days based on pricing away from market,” added Andreas.

Autorola Solutions is already proving a major benefit to Santander Consumer Bank Germany across its group repossessions. Major dealership groups in Germany are about to implement Fleet Monitor to reduce their overall lead-time. OEMs and leasing companies are now talking to Autorola as they are beginning to understand what benefits the innovative and integrative solution could contribute to their overall strategy of digitalisation.

Digitising workflow processes helps achieve the optimum cost structure

“Autorola Solutions has no direct competitors. No system has the power and flexibility to manage automotive business’ overall process within an existing IT-Infrastructure by integrating the existing systems and customising the monitor based on the customer´s individual requirements,” said Andreas.

He continued, “Most of the other workflow solutions require an adaption to the provider´s process and logics, and often just focus on one or a few parts from the overall process. Dealer groups, leasing companies and OEMs are calling us to help them to implement their overall digitalisation strategy. They know that only by integrating and digitalising the complete process the pledge of exponential growth – or working at the required speed with the optimum cost structure – can be achieved.”


For further information contact Andreas Kunkat  I   Sales Director Germany   I    AUTOROLA Solutions  phone: +49 (0)40/180 370 25      mobile: +49 (0)151 – 40 2660 -18   e-Mail:  akt@autorola.de


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Autorola Solutions introduces online used car trade in concept to support dealers

Jun 17, 2019   written by Autorola

Autorola Solutions introduces online used car trade in concept to support dealers

Autorola Solutions is supporting dealers ‘full service’ ambitions with the introduction of its trade-in concept that enables them to provide fast and convenient disposal service for its customers.

The new trade-in concept provides dealers a ‘full service’ platform to help their customers dispose of and buy a new vehicle by providing an accurate, fair and guaranteed purchase price for any vehicle within 30 minutes of notification.

Combining business units into one structured process

The concept combines Autorola Group’s three business units – Solutions, INDICATA and Marketplace – into one structured process to benefit the most from the synergies of the Autorola product suite. For the dealer, the trade in concept provides obvious benefits as it streamlines the full workflow in dealing with trade-in vehicles and unifies the separate steps in the process in one system. It provides both the tools for inspecting the vehicle and gaining an accurate market value, and then glues the full process together from notification through to actual trade-in when the vehicle is on stock in one seamless experience.

For the customer this means easy and hassle-free disposal of their vehicle with instant purchase power to invest in a new vehicle.

INDICATA at the heart of used vehicle valuation

INDICATA is at the heart of the used vehicle valuation as it provides a true, live market value for dealers to base initial part exchange buying decisions on. Dealers decide the margin required whilst, at the same time, scouting competitors’ market prices as a benchmark. This all contributes towards creating the most effective insight on every individual used vehicle and supports dealers’ decision-making process in a reliable and swift way.

The fast and convenient online trade-in platform helps minimise lead times, increasing customer satisfaction within a ‘lean’ process framework. It also helps to eliminate in-house process operations and subsequent time delays.

Secure end-to-end process with direct access to VIN look up

The system provides a secure end-to-end process with direct access to VIN look up, offering full vehicle details and descriptions for speedy decision making and turnaround. The platform also enables managed and shared dealer access to any vehicle already valued within the system to help prevent any crossover between associated dealers, with users able to monitor individual and group dealer performance.

Secure access to the system also offers users the ability to track specific used vehicles, allowing adjustments and improvements across all steps within the process to optimise conversion rates. It also means key performance indicators can be managed from the very outset of any vehicle remarketing process.

The trade-in tool is quick and easy to activate, allowing users to set-up according to their own preferences and working practices. The system can be customised with any combination of modules and integrations, allowing users to do business their own way.


For further information contact  Ib Kimose, Global Director, Autorola Solution, Mobile:  +45 61629916, E-mail:   iki@autorola.com


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Fleet Monitor and INDICATA integrate to cover full life cycle

Jun 24, 2019   written by Autorola

Autorola Solutions has added another powerful tool to its product suite with the integration of Fleet Monitor and INDICATA.

The introduction of INDICATA integrated into Fleet Monitor is the newest addition to Autorola’s range of enterprise solutions, where business units and product modules join forces to provide premium business propositions. The combination adds value to the whole organisation (cross department) and has an impact on the full customer and contract life cycle.

By using the Fleet Monitor/INDICATA, fleet owners add a dynamic monitoring tool to the instruments of portfolio management. This can be leveraged across departments inclduing sales, risk and remarketing. As everything is monitored and tracked constantly, it is also provides a sound basis for compliance purposes.

Constantly screened for business opportunities

By setting off the current market value against the outstanding book value, the portfolio is constantly screened for business opportunities. Customers with ‘equity’ (meaning outstanding lease amount is less than the market value) in their car are more open for new business opportunities and for the same amount or even lower, they can drive the latest version of a car or even have an upgrade to align with changing personal life situation. The integration provides a real-time sales opportunity for this level of portfolio management.

Detecting risk at an early stage

Fleet owners should always question their portfolio. Constant screening of a portfolio can not only detect risk (or risk tendencies) in an early stage but it can also give you an insight in cluster risk (ie percentage of petrol Vs diesel, gearboxes variants etc).  

Outstanding book values higher than a threshold percentage below market value need special attention.   With this basic rule, even very large portfolios can be managed easily as the focus is only put on the contract which needs special attention. As the integrated system only focuses on the files ‘at risk’, this significantly reduces the future (additional) depreciations and losses on the cars.

First indication of end of contract

In ’normal’ portfolio management the end of contract process starts at 180 days before the contract expiring. The combination of Fleet Monitor/INDICATA gives the fleet owner a first indication about the end of contract value/trend of the car. Based on this info, the fleet owner can suggest to the customer to either extend or shorten the contract.

If the contract is inline with market expectations, the next step for the fleet owner is to start the real remarketing process. Based on the data Autorola collects daily across Europe, it can advise every fleet owner where to sell the end-of-contract-cars.

Due to the GEO-pricing tool, built within Fleet Monitor, the fleet owner has a perfect overview in which European country the car is highly desired and gets the best price. Autorola also has the ability to arrange this.

 

Overall, the combination of Fleet Monitor and INDICATA adds another dimension to sales, risk management and remarketing, helping to maximise portfolio value in every sense of the word. 


For more information, please contact Jurgen Claus, International Business Development Manager, Phone: 0032 (0)3/887 19 00, Mobile: 0032 (0)473 96 41 09, Email:  jcl@autorola.be


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Country Managers meet in Istanbul 2019

Jun 17, 2019   written by Autorola

Autorola Group’s annual country manager meeting was held in Istanbul, Turkey on 13-15 June – highlighting a local automotive market equal in both challenge and opportunity.

The annual event serves as both a strategy workshop to align future expectations and goals, and as a social gathering that unites the local countries with the Autorola Group spirit.

A strong heritage within automotive

The culture in Autorola Group is founded on a strong heritage within automotive that stems from the founders of the company when back in 1995 the first ideas and visions for the company were born. Alongside the solid backbone in automotive, the company has always focused on the online nature of the business and digitalisation of the industry by developing innovative solutions in a widespread IT landscape. This both serves as the beacon for the company, as well as the platform that allows the company to act globally.

The annual meeting reinforces the belief of ‘think global, act local’ because although each country manager is responsible for driving business in their own territory, in a global marketplace no business stands alone – key when the culture of Autorola supports cross border initiatives and synergies.

Turkish market challenging but presenting opportunity

Held in Istanbul, the event also served to highlight how the Turkish automotive market is proving both equal in challenge and opportunity.

According to Aslı GÖKER, sales director, INDICATA Turkey, ‘At present within Turkey’s economy, there is a weakening of the Turkish lira against the dollar and euro; decreasing growth rates; rising unemployment rates; and high inflation figures. These economic indicators have affected all sectors negatively, including the automotive sector.’

However, this ‘negative’ impact is also providing opportunity within the used car market especially for Autorola Group.

Asli explained, ‘With the reducing sales figures in the new car market, the focus has shifted to the used car market by OEMs and authorised dealers, and the necessity of online presence and digitalisation has been realised. We think that the services we provide will become more important for the sector.’




Find us here: http://www.autorolagroup.com/contact/

 

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Introduction from Autorola CEO & Founder, Peter Grøftehauge

Apr 17, 2019   written by Autorola

This newsletter highlights various new initiatives we have recently bought to market in order to satisfy the demands of an ever changing, and diverse, global automotive remarketing industry.

 

As I have said many times before accurate, meaningful, real-time data is the key in ensuring success within the remarketing sector. Therefore, we are delighted to announce the combining of our Fleet Monitor asset workflow management system with INDICATA, our real time used market insights platform. This integration takes used car valuation to the next level, with real time valuations based on actual vehicles from multiple countries, enabling true cross market comparison of vehicle valuations.

As several of the data driven insights featured within this newsletter highlight, the global vehicle remarketing sector continues to be diverse with certain brands, powertrain types and vehicle specifications in more demand than others regionally. Our combined system allows used car asset owners to look at the most profitable country and sales channel to dispose of the different types of used cars on their fleet, ultimately helping optimise profits and reduce stocking days.

This global data and insight also allow us to proactively introduce products and services regionally to satisfy specific market demand, examples of which include Autorola Belgium’s guaranteed takeover bid protocol; car dealers in the Netherlands utilising INDICATA; and Autorola Denmark partnering with Autolease – all of which are highlighted here.

These initiatives are more examples of how listening to our customers, combining it with our global data insights and then proactively providing solutions is core to our philosophy in supporting our business partners.

Regards Peter



Regards Peter


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Autorola Belgium introduces guaranteed purchase price for part exchange cars

Apr 4, 2019   written by Autorola


Autorola Belgium has introduced a new initiative which guarantees its dealers a used price within 30 minutes of the trade-in for a potential buyer’s used vehicle.

The new programme, introduced in Belgium and Luxembourg, provides Autorola dealers with an accurate, guaranteed purchase price. For customers who buy a vehicle which involves delivery time, dealers can also use the new sales tool to assure future values.

Guaranteed price for a customer’s part exchange
Developed using INDICATA software which collects, processes and analyses real-time data from the European used car market, and in combination with Autorola Belgium’s remarketing expertise, the initiative offers dealers a guaranteed bid for the acquisition of the potential’s buyer’s vehicle.

The guaranteed takeover bid protocol assists vehicle remarketers in making prompt buying and selling decisions and benefits both customers and vendors alike via direct valuations and guaranteed takeover bids. It also helps to eliminate inhouse vehicle process operations and subsequent time delays.

Helping dealers sign more orders
Autorola Belgium country manager, Erwin Coesens, said, ‘We see that the number of showroom visits has reduced from 4.5 times in 2008 to 1.3 visits in 2019 as the consumer is much better informed via the internet and knows exactly the car they wish to purchase.

‘For vendors it’s a big challenge to get a signed order in the showroom. In many cases a correct purchase price for the current car is the ‘deal closer’. With the guaranteed takeover bid Autorola Belgium now offers them the ideal tool.’


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INDICATA helps biggest car dealers in the Netherlands to sell more vehicles

Apr 5, 2019   written by Autorola


Car dealers in the Netherlands are enjoying the benefit of using INDICATA real time used market data to guarantee part exchange values for motorists.

Dealer holdings are using INDICATA valuations to support e-marketing trade-in campaigns to attract drivers into the showroom. Over 50% of the Netherlands’ biggest dealers holdings are now using the INDICATA data to sell more (used)cars.

INDICATA values the car based not only on the make, model, age, mileage and condition, but also its current popularity and market supply volumes in the town or local area that it is being used. This enables dealer holdings to really tailor made their trade in proposal for the customer with a market value for their car.

That compares favourably to many online used car pricing websites in the Netherlands that are based on historic used values and average national prices which can be misleading.
“The driver is attracted into the showroom only to be told that their car is worth less than they originally thought which does not create a good customer experience.

“Often the difference between algorithm-based online used car values and our real time trade in values can be thousands of Euros on a higher value car,” explained Bobby Rietveld, sales director of INDICATA Netherlands. He adds. We now even see dealer holdings using our data by adding the Market Days Supply into their Online Trade In modules so the customer automatically receives a trade in price which is based on the combination between trade in price and ratio supply and demand (online vs. sold)

“The conversion ratios of the marketing campaigns of the dealer holdings on both showroom visits and sales has gone up because they are being offered a value based on the real time market data for that specific car. Owners feel happy they are getting an honest deal on their part exchange, which provides a strong foundation with the dealer for their new car purchase.” 

For more information contact Bobby at bri@autorola.nl.


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Autorola Solutions and INDICATA combine to power large scale used car valuations

Apr 9, 2019   written by Autorola


Autorola has combined the power of its Fleet Monitor asset workflow management system with its INDICATA real time used market insights platform to help OEMs, banks, rental and leasing companies understand the true value of their used car portfolio.

This integration takes used car valuation to the next level, with real time valuations based on actual vehicles from multiple countries, enabling true cross market comparison of vehicle valuations. Working in 13 countries INDICATA has six million used cars on it at any one time.

Optimising profits and reducing stocking days
Used car asset owners can use the new system to look at the most profitable country and sales channel to dispose of the different types of used cars on their fleet, ultimately helping optimise profits and reduce stocking days. Trim levels and body types can impact prices from country-to-country and INDICATA will help navigate the best sales strategy for each car.
The possibility of real time data to analyse residual values against market value enables a stronger and more controlled risk management. Solutions and INDICATA combined help deliver that aim to offer value for the whole company as well as to aid compliance.

An exciting development for vendors
“The integration of Solutions and INDICATA provides asset owners with a valuable insight into vehicle values on an enormous scale. It combines the workflow power of Solutions with the big data power of INDICATA which an exciting development for vendors,” explained Ib Kimose, Global Director of Solutions.


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Autorola Denmark discusses its valuable customer partnership with Autolease

Apr 12, 2019   written by Autorola

 

Bilsalg and Autolease colleagues review the inspection and collection customer journey.

Bilsalg Denmark was set up to service the largest Danish leasing fleets around all process regarding to de-fleeting their used vehicles more efficiently. This included initially only the auction process but has since been expanded to everything from vehicle appraisal and inspection to online disposal via Fleet Monitor.

It aims to make life easier for fleets and it has found inspection and appraisal is a vital element in keeping good relationships going with our customer and their driver.

Explaining damage to drivers
“When a driver brings a car to us at the end of the contract we carefully explain to them any damage they have on their car and what that means in end-of-life costs,” explained Thomas Friis Pedersen, Autorola Denmark’s country manager.

“When we deal with a private lease customer our approach is even more important as they don’t always understand the importance of this inspection process. We advise them to remember their spare key and servicing documents to help the process in their favour.

We have worked for Autolease for over 10 years
“Our colleagues receive regular training to ensure we provide the best possible service to all drivers. We have worked for Autolease for over 10 years and they regularly visit our compounds. Our teams work together to achieve the best possible service for the customer.

“Autolease was our first Fleet Monitor customer and we sell several hundred used cars for them each year online. A number of their used cars are exported, and prices are strong. Our use of INDICATA means we work out the true value of their vehicles before disposal.

“We continue to make each other better at what we do which is what a successful business partnership is all about,” he added.

Autolease Denmark’s remarketing manager Anders Kaae comments on the valuable partnership with Autorola Bilsalg.
“Autolease is part of the DNB Bank and provides a complete leasing and fleet management service across Scandinavia. Long before Fleet Monitor was developed, our collaboration with online car auction began. It was a smart way of remarketing and we achieved some good used prices. However, buyers complained about the quality of the vehicle descriptions that we were responsible for at that time, and the solution was that we outsourced the inspection of the cars to Autorola, and this was how we solved this problem.

“Autorola decided it wanted to take the online inventory to the next level, so they could help manage assets more optimally through the complicated processes. Through our two companies working together on the processes involved in managing vehicles across the supply chain the Fleet Monitor asset management system was born. We have been making a valuable partnership ever since.

Autolease uses Fleet Monitor across Scandinavia in different ways
“Autolease runs a leasing fleet of around 38,000 lease vehicles via Fleet Monitor. Autolease Norway and Sweden also use the system, but in slightly different ways compared to Denmark. Online remarketing remains our favourite route to market in Denmark and Sweden. It is efficient and very slick. Buyers are accustomed to buying used cars online and our sales are very successful.

“Our company partnership continues to flourish as we trust each other, and we continually drive each other forward to get better at what we do.”


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