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AUTO1.com launches Price Indicator to facilitate trade-ins at the point of sale
Berlin, 2. February 2021
Berlin, 2 February 2021 -AUTO1.com, Europe's largest wholesale platform for used cars, now offers car dealers a price indicator solution for their trade-in process. The AUTO1 Price Indicator supports dealers in determining the price of the old car they buy when selling a fresh car to the customer. Together with the AUTO1 EVA app for the inspection of used cars, AUTO1.com fully covers the digital value chain for the acceptance of used cars at the dealership.
According to a market study1 in which 1,035 car buyers were asked in Germany, 19% of potential car buyers break off a planned car purchase due to problems with the trade-in of their previous vehicle entirely, i.e., trade-in failure results in a full deal breaker. And another 44% do not even receive any trade-in offer from the dealer at all, risking the sale of the fresh car.
"With more than 60% of customers facing heavily troubling trade-in experiences, the study clearly reveals the immense potential of the trade-in business,” says Jost Dieckhaus, Vice President Remarketing Europe AUTO1 Group. “At the same time, we have received very strong feedback that dealers are often faced with the understandable challenge of determining a realistic price for a third-party brand. This is where our new solution for trade-in prices comes in and also flexibly connects into dealers’ trade-in processes to easily win back up to 60% of customers directly at the point of sale.”
With the new feature, registered dealers record all key vehicle data in only five minutes via our smartphone apps or the AUTO1.com website. The essential vehicle data, including the equipment details, are automatically imported by entering the vehicle identification number (VIN). If available, dealers can also upload damage reports and photos using drag & drop. Then, the dealer can request a price for each trade-in via the AUTO1.com website or AUTO1 EVA App with just a click. Within minutes, the dealer gets a market price back.
The price is based on the current market situation, real-time bidding behavior in 30 countries, as well as data from more than two million cars sold Europe-wide by AUTO1.com. The new tool allows the dealer to configure a trade-in margin, which can be deducted in advance and the sales agents can directly present the final price to the consumer.
If the dealer decides to accept the trade-in and chooses to sell it to other car trading professionals via AUTO1.com, the car can be auctioned instantly to more than 60,000 dealers across Europe with one click. Thanks to its wide European reach to more than 30 countries, AUTO1.com can achieve the best prices for the seller.
"With the A1 Price Indicator, car dealers turn potential trade-ins into actual transactions. Car dealers make faster purchase decisions and optimize their trade-in strategy. At first, trade-ins are capital-intensive and involve a stock risk. Simultaneously, the gates open for higher customer satisfaction, and ultimately, a more profitable business. Therefore, each dealer should fight for every trade-in, as every trade-in also enables the sale of a car"," says Denis Belan, Head of Remarketing AUTO1.com.
The Price Indicator is currently available in 13 markets: Germany, Austria, France, Italy, Spain, Portugal, Netherlands, Belgium, Luxemburg, Sweden, Denmark, Finland, and Poland. Partner dealers of AUTO1.com have already been testing it for about six months. The solution is available free of charge for registered dealers, registration is also free and there are no monthly fixed costs and no minimum quantities.
Interested dealers can register on AUTO1.com and then contact our Remarketing experts via firstname.lastname@example.org or call 030 2647 5032.
AUTO1.com ist Europas größte Handelsplattform für Gebrauchtwagen. Mehr als 60.000 Partnerhändler in über 30 Ländern digitalisieren mit AUTO1.com-Technologien und Services aktiv ihr Gebrauchtwagengeschäft. Käufer haben Zugang zu einem markenübergreifenden Bestand aus über 30.000 geprüften Gebrauchtwagen. Verkäufer, darunter Händler, Hersteller, Leasing- und Mietwagenfirmen, haben die Möglichkeit, Fahrzeuge digital an das Händlernetzwerk zu vermarkten. Unser europaweites Logistiknetzwerk mit über 200 Logistikpartnern ermöglicht zudem den überregionalen Handel zu wettbewerbsfähigen Preisen. Alle Services stehen unseren Partnern 24 Stunden täglich, an sieben Tagen die Woche, zu marktgerechten Einkaufskonditionen, ohne versteckte Gebühren oder Mindestabnahme zur Verfügung. Weitere Informationen finden Sie unter www.auto1.com.
AUTO1.com GmbH ist Teil der AUTO1 Group, Europas führende digitale Automobilplattform für den Online-Kauf und -Verkauf von Gebrauchtwagen. AUTO1 Group, mit Hauptsitz in Berlin, ist in über 30 Ländern aktiv und erzielte 2019 einen Umsatz von 3,5 Milliarden Euro.