Buyers who are signed up to buy vehicles on Autorola’s global online remarketing platform can now bid through their mobile device.
Buyers can bid via a smartphone or tablet and to ensure they do not miss out on stock, they receive an email or SMS when they have been outbid or when the auction is just about to end.
Mobile bidding is live in 12 countries
Currently buyers in 12 countries (FR, AT, BE, DE, DK, ES, UK, IT, PL, PT, AU, NL) can take advantage of mobile bidding, with other geographies being launched soon.
During its two-month pilot, Mobile Bidding saw a high volume of bids and sales, especially from smaller national and international buyers with broader roles than just buying.
Online bidding is very popular with cross border buyers
“Buyers are often very time-poor and we have seen they have really benefitted from this initiative. The biggest trend so far is buyers purchasing used vehicles cross-border,” explained Morten Holmsten, Autorola Group’s global sales director.
“We hope to have the rest of our countries up and running in the next few months,” he added.
Autorola launches mobile bidding in 12 countries
Buyers who are signed up to buy vehicles on Autorola’s global online remarketing platform can now bid through their mobile device.
Introduction from Peter Grøftehauge, Autorola Group CEO
A belated Happy New Year from all at Autorola as we move into our 21st year of trading. We’ve made a fast start to the year – in January alone we have launched our new global website www.autorolagroup.com, our INDICATA business has gone live in Turkey and our team attended the ENG Remarketing Forum in Berlin.
Our global Marketplace sales director Morten Holmsten focussed his 20-minute slot at ENG on ‘How big data is helping vendors optimise their remarketing process.’ As with so many industries remarketing allows asset owners to collect data at a number of different points during a vehicle’s lifecycle. Our real time used vehicle business intelligence platform INDICATA sweeps a country’s online used vehicle data overnight to give OEMs and their dealers the most up to date intelligence to use to optimise their values and reduce stocking times.
Big Data helps optimise prices and reduce stocking days
He discussed the challenges of data accuracy on the Internet and How Big Data has to be collected and managed in a structured fashion to ensure the accuracy when it is evaluated to optimise prices and reduce stocking days.
He finished by posing the question -Will Big Data in the future be able to tell exactly which buyer will pay the most for a specific car, will this be the end of auctions? Check out his slides here and let us know what you think. (www.engevents.com/remarketingpresentations2017)
Amazon is already launching into the online automotive space which shows that the future is online. The efficient use of Big Data can help reduce many of the inefficiencies in the remarketing process.
We offered over 450,000 used vehicles for sale online across out online Autorola platform in 2016 and we expect that to grow to 500,000 by 2018. With the global new car market forecast to hit 100m by 2020 used car volumes will continue to grow providing much more scope for growth. Our portal is easily scaleable and is multi lingual so we are in a good place to benefit from these record sales volumes.
Cross border used volumes increase
Our article on European cross border vehicle sales in this edition of our newsletter also puts the movement of used vehicles into perspective. A record 21% of the used vehicles sold on our portal in 2016 ended up being imported or exported away from their country of registration.
As European used car supply and demand balances itself out there is likely to be continued movement of stock between countries. Online is the most efficient method of buying and selling used cars across multiple geographies and I still believe that within the next five years all used cars could be sold online. Let’s continue this debate over the next five years and see what comes of my prediction in 2022.
New global website goes live
Autorola has launched its very first Group website which highlights our ever growing range of online vehicle remarketing and business intelligence services.
www.autorolagroup.com guides you through the world of Autorola from online Vehicle Auctions and Vehicle Workflow Systems to Real Time Market Insights.Our group employs 350 colleagues across 19 countries globally across three business units;
- Solutions provides customized solutions for large fleet owners to help them manage their assets at every single touch point through the vehicle management process.
- Marketplace offers a wide range of online auctions. In 2016 we offered over 450,000 vehicles on behalf of 6,000 vendors to 70,000 active buyers. With over 20 years of experience we offer open auctions, closed auctions, buy now auctions and white label auctions that can be set up to run on our online platform in any country and language.
- INDICATA provides real time business intelligence for OEMs and their dealers to drive used vehicles growth at the same time as protecting residual values. Now in 11 countries globally it is already providing a valuable muli region service for the likes of Volvo and Kia.
2016 witnessed record levels of cross border European used vehicle sales
In 2016 the Autorola group saw one in five (21%) of its used vehicles sold on its online remarketing platform during 2016 were cross border: ie were imported or exported from their country of origin.
Autorola has seen cross border volumes continue to rise year on year as Europe’s used vehicle volumes balance themselves out between countries.
Last year we offered over 450,000 used vehicles for sale through our online remarketing platform across more than 20 countries with cross border sales reaching record levels.
Countries are getting their used industries back on their feet via imports
“Countries like Portugal and Spain whose new car market suffered badly at the hands of the recession are now being forced to import used cars from other European countries to satisfy consumer demand,” explained Morten Holmsten, Autorola’s Marketplace global sales director.
“The European used market is very well established; but is still changing dramatically, particularly as individual countries strive to get their automotive industries back on their feet after the recession of 2008 and 2009,” he added.
Our portal is at the heart of many cross border imports/exports
Portugal imported around 55,000 used vehicles in 2016, many through the Autorola portal. Cars like the Renault Mégane, Peugeot 508 and BMW 1 Series are all proving popular.
Spain and France are importing more used vehicles as both markets look to satisfy consumer demand as they shake off the effects of the most recent recession.
Countries are importing high spec used cars from Italy
Private buyers are slowly returning to the used market in Italy on the back of a tough economy, some changing their used car for the first time in a few years. The trend has been to export its higher value cars. Many offer good value and a high specification and are being snapped up by German dealers, while Austrian dealers are buying and selling cars both for their home market and for export to the Czech Republic, Slovakia and Slovenia.
Eastern Europe’s demand for used cars continues as consumer’s disposal income continues to grow, a trend that is likely to continue for many years to come. Many countries like Poland are buying up Europe’s older used cars, while Russian demand for aging 4x4s is strong.
Normally conservative Swedish dealers are importing used cars
The Swedish new and used markets are very buoyant with demand reaching a level that has forced traditionally conservative retailers into importing used cars to satisfy retail demand.
Norwegian dealers are using the country’s zero import duty rate for electric cars to import EVs from Sweden, Germany and the Netherlands to satisfy consumer demand.
New Zealand used car import rules are being relaxed
Further afield Autorola has received enquiries from used buyers in New Zealand for right hand drive used cars from the UK, as the country introduces a more flexible import policy.
“It is a remarkable dynamic that cross border sales continue to help balance the continent’s used vehicle supply and demand. Within just a few days of a used dealer buying a car online, they can have it delivered and put it on their forecourt for sale,” said Holmsten.
Autorola Australia builds online car and motorcycle websites for Swann Insurance
A major bike and car insurer has appointed Autorola Australia to build an online remarketing website to assist its customers in selling their used cars or motorcycles.
Swann Insurance, part of the global IAG Group approached Autorola to fulfil its strategy of extending its customer service portfolio beyond just insurance.
Used car and motorcycle websites go live
The used motorcycle website went live in 2016 and the used car website has also just been launched at swannmotomarket.com.au
Customers can apply for a free valuation for their used car or motorcycle and then Autorola will upload it onto its online portal to offer to its network of 4,500 active trade buyers.
Selling to trade buyers is more straightforward
“Selling to trade buyers is often much simpler and quicker than selling to a retail buyer,” explained Philip Browne, Autorola Australia’s country manager.
“Offering the car or motorcycle to our nationwide buyers ensures the consumer receives a strong price and they receive their money within just two days of the sale. Response so far from consumers has been very positive and Swann is set to launch a marketing programme to reinforce its new service offering,” he added.For further information contact Autorola Australia at firstname.lastname@example.org
Autorola Turkey launches INDICATA
Autorola has announced that it has launched INDICATA, its web-based business intelligence and market insights software for the management of used vehicle inventories, in Turkey.
INDICATA collects, processes and analyses live used car market data in real time to provide insights on market dynamics including demand, supply, pricing and inventories.
Turkey is the 11th country to launch INDICATA
The INDICATA platform is also available in Denmark, Austria and Germany, The Netherlands and Belgium, Spain, France, Portugal, Italy and Sweden.
“Our new Business Intelligence platform is yet another example of our innovation in all aspects of vehicle remarketing and used vehicle management,” said Jörg Höhner, Global Managing Director INDICATA.
INDICATA gives a complete market view in real time
“There is a lot of business intelligence technology out there that runs various analyses post-mortem. This is like looking in the rear-view mirror to understand where you are going.
It’s just not the right way to get the insight you need. However, with INDICATA, we have gone beyond traditional pricing evaluation tools to create a solution that truly works with a complete view of the market in real-time.”
It’s time for OEMs and dealer to change their used vehicle operations
“In a time where the market conditions change faster than ever there is a need for dealers and manufacturers to fundamentally adapt their used vehicle operations and management of inventories.”
Reaction from OEMs and their dealer network in Turkey has been very positive as Oğuzhan Saygı, Managing Director, Autorola Turkey explained.
A positive reaction in Turkey
“OEMs and their dealers can take a view on used vehicle prices from both a national and local level to help them understand and monitor how their own used vehicle operations are performing.”
“INDICATA will help transform used vehicle retailing strategies based on powerful insights into local pricing and supply,” Oğuzhan added.Further information can be found on www.indicata.com
Renault UK appoints Autorola as its dealer network’s online remarketing provider
Renault UK has appointed Autorola UK to support its national dealer network in buying and selling used Renault vehicles and unwanted, part exchange “stock.”
The partnership allows Renault UK’s 160 dealers to trade stock between each other, search for used Renault cars that will help to replenish used stock back into dealerships, while also making its used vehicles available to over 2,000 active buyers. Used stock can be easily uploaded to Autorola’s online remarketing portal, Autofind, by the dealers to view and buy.
Approved Used Renault
Renault UK has approximately 15,000 used cars in its network, including a comprehensive selection of electric and traditionally-fuelled cars and MPVs under the Approved Used Renault banner, which offers a 12 month warranty as standard on all vehicles.
Matt Downing, Renault UK’s TCO and Remarketing Manager, said: “Our partnership with Autorola gives our national network of used dealers improved access to used vehicles both internally and externally, while helping them to quickly sell unwanted stock to the trade.
Autofind portal provides peace of mind for Renault dealers
“The Autofind online portal provides complete peace of mind for our dealers, who can focus solely on selling used cars to the widest possible retail audience, while maximising profitability through reduced stocking days and improving vehicle turnover.”
Jon Mitchell, Autorola UK’s Group Sales Director, added: “Demand for Renault’s used range has always been high with buyers on our portal; the early reaction from Renault dealers to buying and selling has been positive. We look forward to helping the Renault dealer network maximise efficiency and achieve further growth in their used car businesses.”
Spanish OEMs use digitalisation to increase dealer used sales
Country manager Robert Lohaus reports on a record used car market and how OEMS are using digitalisation to increase used sales to across their dealer network
The Spanish new car market ended 2016 in a much healthy state with all the major sectors – leasing and companies, rental and private all increasing in size.
Rental and leasing reported double digit new car growth, while the private sector lagged behind slightly, still hindered by the reluctance of some banks to lend consumers money.
Spanish new car market hits 1.15m
The final new car market was 1.15m, which is still some way from the height of the 2007-08 market when 1.7m new cars were sold in Spain.
Currently the used car sector is booming with around 1.8 million annual transactions, but due to the low new car sales volumes experienced in 2008-12 there is still a major shortage of used stock in the country.
20% of used cars coming from imports
The resulting growth in imports comprised around 20% of the used market with dealers being forced to source cars from abroad just to satisfy demand.
“Our pan European online remarketing portal has seen record levels of activity from Spanish dealers looking to import used cars,” explained Lohaus.
6,000 active buyers source cars through Autorola Spain
“We have 6,000 active buyers sourcing cars on our Spanish platform who are after three to eight year old cars that cost under 10,000 Euros.”
“That compares to the sub-two year old market where ex-OEM cars and the growing volume of ex-rental cars on the back of a buoyant tourist industry are in an over stock situation. Typically this accounts for cars between 10,000 and 18,000 Euros,” he added.
New CO2 regulations set to penalise aging cars
In some areas of Spain like Barcelona and Madrid private motorists and businesses will be forced to sell their aging used car and used vans to meet strict new CO2 regulations. Used car and vans not meeting these regulations will not be allowed into the city centres.
“This may cause further used car and van shortages in the future as many older vehicles will have to be scrapped,” said Lohaus.
More OEMs and dealers are embracing digitalisation
The quest for increased efficiencies within the asset management and vehicle remarketing industry over the past few years has meant the market has embraced digitalisation. More processes and used vehicle selling now happens online which is why the INDICATA used vehicle business intelligence platform has been embraced by OEMs and dealer groups alike.
INDICATA reduces stocking days and protect residual values
“Manufacturers realise that if they can help their dealers generate more used car sales then there will be more scope for their network to buy more cars from both the manufacturer and rental buy back schemes. Through using INDICATA dealers know the exact pricing of a used car to sell it in the fastest possible time which is allowing them to stock more cars over a period. This helps protect residual values as dealers aren’t forced to heavily discount stock to generate sales,” explained Lohaus.In theory the speed of sale can help an OEM go from selling 2,000 used cars to its dealer network per year to selling 6,000 units in just 12 months. More importantly dealers are making good profits on their used cars and residual values are being protected.