Autorola UK has doubled its business as more customers move their businesses online
Autorola UK’s online vehicle auction activity continues to go from strength to strength as more buyers and vendors than ever before are using its Autofind platform to buy and sell used cars.
The business has more than doubled in size during the pandemic as the UK remarketing industry has finally embraced online buying and selling after decades of focusing just on physical auctions.
2,000 active used buyers
Autorola now has more than 2,000 active buyers some of whom are buying several hundred used vehicles each year, and with a fully integrated transport service available the dealer receives vehicles on site within just a couple of days of their online purchase.
More importantly it continues to grow its used car sales team who collaborate closely with dealers to locate and secure the right stock for their business.
People power supporting online technology
“The combination of our online wholesale used vehicle portal with the support of an office-based team to help dealers locate and bid on their preferred stock has been a real winner. Buyers know they have the support of the office-based team if they have a query or a problem, which gives them additional confidence when buying,” explained Neil Frost, Autorola’s group operations director.
“In the current used car climate how many online wholesale portals have over 15,000 used cars and vans for sale? We have become the online used car destination at a time when dealers have struggled with shortages of stock.”
Real time pricing insights
Autorola UK has also gained traction with INDICATA during the pandemic where dealer groups and car supermarkets have signed up to gain the real time pricing insights to guide them through bidding and buying used cars during a very hot market.
Its used car pricing platform helps them determine the stock that is in demand and where they can afford to pay extra to secure cars they know will sell quickly. It also enables them to understand what their local rivals are doing with stock which helps them become competitive. Many dealers are dialling used prices up or down daily to ensure they are the most competitive provider in their region as well as ensuring they have the right models in stock.
Many of these INDICATA customers are now also selling their unwanted exchanges and buying new stock via Autorola’s Autofind portal. They like the convenience of buying and selling online as well as working with a single supplier to provide them with a wide range of used vehicle services.
Fine tuning retail pricing
Wales’s largest car supermarket Ron Skinner & Sons rolled out INDICATA’s used car pricing and sales insights platform to fine tune its retail pricing and to support the group’s car stocking strategy. It has up to 1,500 used cars in stock worth £16m and sells around 8,000 used cars each year
Ron Skinner’s general manager, Craig Walters said: “INDICATA takes the guesswork out of valuations and helps us guide customers through their part exchange values as well as explaining how new car prices are moving so quickly. The data keeps everybody in tune with the market from our MD to the shopfloor,” he added.
St Leonards Motor (SLM) Group operates nine franchised dealer and two used car sites with nearly 600 used cars in group stock at any time. It introduced INDICATA coincided with its digital online approach to selling used cars.
Helping decide what stock to buy
“It helps us decide what to buy and at what price. It shows where SLM should go stronger on stock when buying online and when pricing used cars. We use the insights to decide whether to take a smaller margin but sell a used car stock more quickly,” said SLM director Jason Barlow.
“Because all our cars sit on one portal, I can spend 30-45 minutes reviewing the dashboard and altering any of the KPIs as I see fit in the knowledge the 25 platform users are all on the same page.
The first INDICATA Lead Generator customer is also about to go live giving retail customers the power to value their trade vehicles live on a retailer’s website. Built on INDICATA’s used car valuation engine, it gives the retailer full control over making a competitive offer to the customer with the support of INDICATA scanning the prices of 9m used vehicles every day.
Online sales traffic is rising
INDICATA’s floating widget and “modal” screen sits on top of the dealer website, meaning implementation is fast and incurs minimal costs.
“Online sales traffic has risen dramatically through the pandemic and the number of physical showroom visitors has fallen,” explained Frost.
“Lead Generator enables retailers to engage with online customers more readily by providing them with a part exchange value to coincide with them looking at sourcing a new car,” he said.