Remarketing:  how can digitalization and automated inspection speed up the total cycle time and better identify refurbishment costs?

By definition, remarking manages the marketing of used vehicles. There are many marketing channels thanks to auctions or full-service dealerships. We address a multitude of players different by their size, processes or geographical location:

• Buy Back
• Resale of own fleet
• End of leasing contract
• Resale of passenger cars
• Trade-in of used vehicles

For all the actors, the main KPI remains the same: the turnaround time. It means putting vehicles on sale as quickly as possible. Then, you need to have as many potential buyers as possible in front of you to ensure the sale. In addition to this you would need:

• Complete sourcing of the vehicle;
• Quality of the information transmitted;
• Homogeneity of the inspections carried out;
• Efficient resale market.

1. The turnaround time

Today, the key issue for remarketing lies in the turnaround time for used vehicles. For example, more than 5 million vehicles are sold every year in France. To respond to this high volume, it is necessary to obtain and quicky provide the following information:
• The technical assessment of the car;
• Associated administrative documents: vehicle registration document or duplicate keys;
• Complete description of the vehicle, including potential damage.

2. Obtain a complete sourcing of the vehicle

The seller needs different elements to ensure the sale of the vehicle. These include a complete description of the vehicle, its mileage, the interior and exterior condition of the premises, but also commercial pictures. All of these elements help to determine the resale price of the vehicle. Directly obtaining this information to automatically establish a resale price makes the process more efficient and accurate.

3. The quality of the information transmitted

Any misinformation or information not transmitted have a significant impact on the car resale process. Complex customer specifications have to be met to avoid claims that have a substantial cost. It is difficult for an inspector, even an experienced one, to evaluate such a large volume of data and to comply with various requirements.

4. Homogeneity across all inspections

The two last points finally join this one. Standardize all inspections, whatever the date, time, or localization, is a real challenge. It is difficult for a single person to maintain the same rigor for different inspections.

5. The ability to be a single point of resale

The aim is to avoid having too many contacts. In B2B or B2C, the process can be more or less extended, depending on the number of present players carrier, inspectors, reseller, etc. Making a single offer for the entire process would create a real added-value for remarketing.

To meet all of these previous issues, the use of ADRs (Automatic Defaut Recognition System) could deeply change the remarketing:

• Industrialize the inspection process and automate the analysis of used cars;
• Produce standardized evaluations at a fraction of the cost and time of manual inspection;
• Close to zero disputable or erroneous results;
• Making vehicle inspection more transparent and cost-efficient;
• Car policies & processes will be more detailed;
• Provide greater security for used-vehicle customers;
• And finally boost the remarketing industry in general.

The digitalization and automation of processes meet all of these challenges. The solution must communicate, with both incoming and outgoing data. At ProovStation, we support you in your search for innovative solution. At the heart of our business: helping you improve your turnaround time, standardize your inspections and bring trust & transparency to the process.

Webinar Remarketing : May 5 at 11pm CEST

Automate your vehicle inspection & damage quotation 🚀

Register Now !