{"id":2392,"date":"2021-07-29T16:24:42","date_gmt":"2021-07-29T15:24:42","guid":{"rendered":"https:\/\/rmsautomotive.eu\/2021\/07\/29\/car-remarketing-expert-track-connected-ecosystems-are-future-for-used-car-market\/"},"modified":"2022-03-23T16:12:17","modified_gmt":"2022-03-23T16:12:17","slug":"car-remarketing-expert-track-connected-ecosystems-are-future-for-used-car-market","status":"publish","type":"post","link":"https:\/\/rmsautomotive.eu\/de\/2021\/07\/29\/car-remarketing-expert-track-connected-ecosystems-are-future-for-used-car-market\/","title":{"rendered":"Car Remarketing Expert Track: \u2018connected ecosystems\u2019 are future for used-car market"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2392\" class=\"elementor elementor-2392 elementor-805\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5b28229d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b28229d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3ff430c3\" data-id=\"3ff430c3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-519fb027 elementor-widget elementor-widget-text-editor\" data-id=\"519fb027\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<h1>Car Remarketing Expert Track: \u2018connected ecosystems\u2019 are future for used-car market<\/h1>\n<p><em><strong>If you\u2019re a Remarketeer hungry for data and insights, then you need to check the Vehicle Remarketing Expert Track. Organised by Fleet Europe and CARA, the series concluded today. But you can still see all three webinars \u2013 more information below. First, a resum\u00e9 of today\u2019s session, on \u2018The Future of Used Cars\u2019. <\/strong><\/em><\/p>\n\n<p>The session, presented by Johan Verbois (Fleet Europe Remarketing Expert, Founder of 5S Consulting and CARA Board Member), consisted of three presentations, all satisfyingly data- and insight-rich, by:<\/p>\n\n<ul>\n<li>Radu NICODIM, Strategic Planning Manager at D\u2019Ieteren Auto. His topic: \u2018Future Vision on the Used-car Industry\u2019.<\/li>\n<li>Sebastian FUCHS, Managing Director of Manheim and RMS Automotive at Cox Automotive. He discussed \u2018Five Key Trends in the Used-car Industry\u2019.<\/li>\n<li>Andy SHIELDS, Global Business Unit Director at INDICATA. He spoke about \u2018Data-driven decision making\u2019.<\/li>\n<\/ul>\n\n<p><strong>Significant growth<\/strong><br \/>Mr Nicodim is also Managing Director of MyWay Pro, a B2B digital used-car sales platform launched last July by D\u2019Ieteren Auto. Why? Because Belgium\u2019s leading distributor of (new) cars, after careful analysis, has realised the value potential and the resilience of the used-car industry, and sees this not only as a path to de-risk its new-car business, but also for significant future growth.<\/p>\n\n<p>\u201cBelgium historically has a low used-car to new-car ratio, due in large part to the great number of company cars. We expect this to change at a ratio of 1.6% per annum, driven by regulatory changes and accelerated by the COVID-19 crisis,\u201d says Mr Nicodim.<\/p>\n\n<p>As the used-car trade moves online, bricks-and-mortar dealers still have an important advantage: \u201cFor used-car buyers, the journey starts online \u2013 and this is where you can capture customers \u2013 but few want to complete the purchase without seeing, touching and test-driving the vehicle.\u201d<\/p>\n\n<p>It is based on this belief that the future of used-car trading is \u201cphygital\u201d \u2013 a blend of digital and physical experiences \u2013 that D\u2019Ieteren has developed its dealer-centric vision on remarketing, with MyWay Pro as a B2B digital sourcing platform for dealers, MyWay as a B2C online lead-generation tool for dealers, and Lizy as a platform for online used-car leasing.<\/p>\n\n<p>\u201cDealers are quite pragmatic. Via pilot projects, we\u2019ll demonstrate the advantages of this system, which they can enjoy without making major investments,\u201d says Mr Nicodim. \u201cEven if change won\u2019t happen overnight, we will be able to convince them.\u201d<\/p>\n\n<p><strong>Immersive experience<\/strong><br \/>Mr Fuchs deep-dove into the five trends that are reshaping the used-car industry today \u2013 an important overview because, if anything, the COVID-19 crisis is speeding up these trends, and the change they\u2019re generating. Here are three:<\/p>\n\n<p>Digitalisation of sales, both by OEMs and dealers. \u201cThis process has accelerated significantly over the past six months. And we need both a retail and a wholesale approach, as exemplified by our companies Modix and Manheim Express.\u201d<\/p>\n\n<p>Connected ecosystems. As exemplified by D\u2019Ieteren\u2019s approach, Mr Fuchs says, and by progressive changes within Cox\u2019s ecosystem. \u201cFor examples, dealers using Modix can now also make the same car available via Manheim Express. This is for outflow, but inflow of vehicles is also getting connected.\u201d<\/p>\n\n<p>Self-service culture. \u201cEverything has moved to our phones. So the online shopping experience for used cars has to become more adapted, more immersive and more enticing for customers using phones. An example: in Q4, we\u2019ll be launching an artificial-intelligence application that will automatically mark scratches and dents on used cars, removing the need to do this manually.\u201d<\/p>\n\n<p><strong>Doubling profits<\/strong><br \/>For all the talk about data-driven decision making, precious little remarketing decisions are driven by hard data, Mr Shields remarked. And that\u2019s a pity, because that data is a means, and the end is optimalisation of the remarketing process \u2013 in other words, higher revenue.<\/p>\n\n<p>If anybody understands what data-driven means, it\u2019s INDICATA, which on a daily basis extracts information on 9 million used vehicles, and uses AI and data analysis to transform that data into actionable intelligence, presented to its clients in a range of practical tools.<\/p>\n\n<p>A key concept is Market Day Supply (MDS) \u2013 the number of days it would take to sell a certain volume of a particular model. \u201cMDS determines which models to stock. Models with an MDS below 60 days are fast-moving. With an MDS from 120 days, they\u2019re slow-moving.\u201d<\/p>\n\n<p>With a few case studies, Mr Shields demonstrated how a data-driven approach \u2013 in buying certain models and using dynamic pricing \u2013 can increase stock turn, eliminate the risk of over-ageing vehicles, and ultimately \u2013 at least in one case \u2013 double profitability.<\/p>\n\n<p><a href=\"https:\/\/www.fleeteurope.com\/en\/remarketing\/europe\/features\/join-fourth-virtual-car-remarketing-expert-track\"><em>Click here for an overview of the past sessions in this series<\/em><\/a>.<\/p>\n\n<p>Source: <a href=\"https:\/\/www.fleeteurope.com\/en\/remarketing\/europe\/features\/car-remarketing-expert-track-connected-ecosystems-are-future-used-car-market?a=FJA05&amp;t%5B0%5D=Car%20Remarketing%20Expert%20Track&amp;curl=1\" target=\"_blank\" rel=\"noreferrer noopener\">Fleet Europe<\/a><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Car Remarketing Expert Track: \u2018connected ecosystems\u2019 are future for used-car market If you\u2019re a Remarketeer hungry for data and insights, then you need to check the Vehicle Remarketing Expert Track. Organised by Fleet Europe and CARA, the series concluded today. But you can still see all three webinars \u2013 more information below. First, a resum\u00e9 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-unkategorisiert"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Car Remarketing Expert Track: \u2018connected ecosystems\u2019 are future for used-car market - RMS Automotive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rmsautomotive.eu\/de\/2021\/07\/29\/car-remarketing-expert-track-connected-ecosystems-are-future-for-used-car-market\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Car Remarketing Expert Track: \u2018connected ecosystems\u2019 are future for used-car market - RMS Automotive\" \/>\n<meta property=\"og:description\" content=\"Car Remarketing Expert Track: \u2018connected ecosystems\u2019 are future for used-car market If you\u2019re a Remarketeer hungry for data and insights, then you need to check the Vehicle Remarketing Expert Track. 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