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Fewer than one in four dealers are attempting to sell warranties and other after sales products digitally - despite evidence from iVendi that one in three used car buyers will adopt them if they are offered.
Download your free iVendi white paper on digital transformation.
A new white paper from iVendi is designed to help dealers complete digital transformations that will make their businesses fit for the post-pandemic used car, van and motorcycle markets.
With the end of the pandemic now hopefully in sight, this seems like a good moment to look at the lessons that have been learnt by dealers during the last year and which will remain important in the New Normal. Here’s our top five.
Lockdowns have exposed limits of “online retail 1.0” dealer tech, says iVendi.
Traditional “online retail 1.0” technology has often failed dealers during the pandemic because of its lack of flexibility to meet rapidly changing market conditions, says iVendi.
More than a third (37%) of used car buyers self-served motor finance and other elements of their purchase online during the most recent lockdown, iVendi can report.
iVendi, in partnership with the Institute of the Motor Industry (IMI), is hosting a new webinar discussing the challenges faced by the industry’s shift to an online retail environment.
Successive lockdowns during the last 12 months have dramatically closed the technology gap between used car sales digital disruptors and established franchise and independent dealers, says iVendi.
£1.3bn used vehicle sales through iVendi platform in pandemic year is up £200m on previous 12 months
More than £1.3bn of online and showroom vehicle sales have been processed through iVendi’s platform during the 12 months of the pandemic – representing an increase of £200m over the previous year.
Staff headcount at iVendi is set to “almost double” over the next three years in support of expansion plans in the UK and across Europe.
The issue of motor retailers losing out on sales of warranties and other value added products (VAPs) from online car, van and motorcycle retailing may have been resolved, iVendi is reporting.
Changes in the relationship between online and showroom motor retailer sales are being accelerated by recurring lockdowns, iVendi is reporting.
iVendi has signed a deal to provide motor finance technology for the new and used car platform, YesAuto, which launched in the UK earlier this year.