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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.
Changes in the relationship between online and showroom motor retailer sales are being accelerated by recurring lockdowns, iVendi is reporting.
Online motor retail is dividing into a market of simple and complex transactions in an emerging, pandemic-heightened trend, reports iVendi.
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.
A new product from iVendi that has been provided free of charge to the company’s dealer customer base throughout the coronavirus pandemic was recognised with a major award last night.
Dealers increased their proactive digital activity by a third in the first 10 days of the new lockdown in England, iVendi is reporting.
Motor finance companies need to be working now with vehicle retailers and technology providers to create uniformity across all channels through which their products are sold in line with new FCA regulations, says iVendi.
Trade-ins and value-added products (VAPs) are proving to be the biggest hurdles for dealers rapidly adopting online motor retail technology in the post-lockdown used car sector, iVendi is finding.
A new iVendi product provided free of charge to coronavirus crisis-hit vehicle retailers has been used to manage and negotiate more than £63m of car, van and motorcycle digital deals in the last 10 weeks.
More than half of iVendi’s 90 staff are being given the option to work remotely following the company’s positive experience with this approach in recent months.
There has been a 53% increase in the number of motor finance applications made online since just before lockdown, iVendi reports.