Despite the demise of Autoquake casting doubt
on the viability of web-based car selling, industry experts are
highlighting the ability to sell cars and finance online as the
greatest opportunity facing the automotive retail sector in
2011.
At the most recent round table discussion held
by Motor Finance and Frontline Solutions, commentators from finance
houses, technology providers and credit information bureaus argued
that the inability of many dealers to carry out business online was
one of the industry’s greatest weaknesses.
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James Tew of consultancy firm Fortuitus
commented that while there may have been problems with Autoquake’s
structure, “the business proved without a doubt that people will
buy used cars online”.
Other issues discussed during the meeting
included the potential for selling personal leasing online, and the
strengths and weaknesses of finance houses’ systems integration
with dealer partners.
A full summary of the round table
discussion will be published alongside April’s edition of
Motor Finance.
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