IVendi has published a new white paper that is designed to help dealers make their businesses fit for the post-pandemic used car, van and motorcycle markets.
More than a third (37%) of used car transactions, including finance applications, took place entirely online during COVID-19 'Lockdown 3', according to iVendi.
Automotive ecommerce specialist iVendi has helped UK car retailers to facilitate £1.3 billion in vehicle sales in the past 12 months – up £200m despite the impact of COVID-19.
Staff headcount at iVendi is set to “almost double” over the next three years, in support of expansion plans in the UK and Europe, says chief executive James Tew.
Daniel Glenn has joined iVendi as vice president of technical operations, responsible for building an IT team that will expand to support the company’s growth plans over the next three years.
Online motor retail is dividing into a market of simple and complex transactions in an emerging trend heightened by the COVID-19 pandemic, says iVendi.
iVendi has signed a deal to provide motor finance technology for new and used car platform YesAuto.
COVID-19 ‘Lockdown 2’ has sparked a rapid rise in the volume of digital car finance deals being forwarded to dealership customers, according to iVendi.
Dealers need to ensure their technology is keeping up with new Financial Conduct Authority (FCA) regulations on commission unveiled recently, iVendi is warning.
UK car dealers must step up their digital services or risk being left behind, as the COVID-19 pandemic has led many customers to carry out more research from their sitting rooms before they visit car showrooms to agree the deal.
Dealers switching to a digital-first sales model in the wake of the coronavirus pandemic should consider taking making part exchanges an offline process if they want to get the best results, says iVendi.
A new iVendi product provided to coronavirus crisis-hit vehicle retailers for free has been used to manage and negotiate more than £63m of vehicle finance deals in the last 10 weeks.
A new integration between iVendi and RAPID RTC means 'improved lead generation and management' for dealers.
Online motor finance applications have risen by 53% since the period before the Coronavirus lockdown started, according to iVendi.
Dealers are being urged to have a ‘second wave plan’ to deal with the prospect of a another COVID-19 coronavirus lockdown later this year.
As lockdown eases, dealers returning to trading on June 1 are likely to prompt a ‘step change’ in online motor retail, says iVendi.
A range of smart new digital strategies from different car retailers are driving trade at a tough time.
Analysis of online activity over the last seven days indicate a potential rebound for the car retail market.
Online finance software specialist iVendi is offering car retailers its latest and most advanced car sales platform product free of charge in a bid to mitigate the impact of the COVID-19 coronavirus lockdown.
How close is the industry to a fully-functioning online buying process? These keys may help speed it along.
