Introduction from CEO & Founder, Peter Grøftehauge
It’s been an interesting summer with the demand for used cars growing by 8.2% to the end of July in the five major European car markets. Dealers continue to report higher used car margins than new car sales which have fallen in nine out of the 10 months to June.
The used car growth coincides with more used cars coming back into the market from finance contracts following strong global new car sales during 2016.
Record export numbers processed on our online portal
We have seen record numbers of used cars offered and sold via our online portal and in particular cross border sales continue to grow as we help balance used car supply and demand across Europe. Used car demand remains strong in Portugal and Spain, while other countries are using Autorola to help export used diesel cars that have fallen in popularity such as Germany and Belgium.
Our newsletter highlights the role Autorola plays in cross border export sales from a vendor perspective and have spoken to our country managers in France and Holland how export works practically for customers. We are very proud of how we bring buyers and vendors together through our online portal and look forward to supporting new vendors who are considering or who have recently adopted a pan European remarketing strategy.
INDICATA powering real time used car insights
We feature stories in our newsletter on used car market insights powered by data from our INDICATA portal.
We have received positive feedback on these articles in past newsletters as they are providing vendors with valuable used car sales and supply data to support key remarketing decisions. Let us know if there are other insights article that we can provide you with in future newsletters.
INDICATA values vehicle assets during life cycle
Asset managers are responding very positively now that we have integrated INDICATA with our Fleet Monitor asset management platform. They can gain insights into the real time values of their vehicle portfolio during different stages of an asset’s life cycle.
For leasing companies, banks, finance companies and any business that owns their fleet this is a huge step in understanding their fleet risk. With recent challenges with used diesels and in some countries where used prices are falling it gives asset managers peace of mind how much their fleet is worth against written down values.
Big Data adding value to fleets
We have spoken before about Big Data and this is a great example of how it is adding value to our customers. We look forward to working with fleets to roll out this integrated asset management and valuation solution.
As we enter Autumn, so the challenges of ever-changing used car values continue to make our lives very interesting, now with the added complexity of more hybrids and electric cars hitting the used market. We plan to provide you with insights into the used EV market in our next newsletter.
Best regards Peter