move online? Some 44 per cent of consumers surveyed by Capgemini
said they were looking to the internet as a viable sales channel
for cars, up from 20 per cent a year ago, while traffic to online
car retailer Autoquake has grown by 260 per cent since June.
Autoquake is now selling over 800 cars a month – equating to an
annual sales figure of 10,000 units, even without factoring in
projected growth.
“Our sales grew tenfold in 2008, and we are predicting a
threefold increase in 2009,” said chief marketing officer Fredrik
Skantze.
Go deeper with GlobalData
Finance and insurance are also sold through the Autoquake
website, with 20 per cent of cars sold along with finance, Skantze
said. The remainder are typically funded through debit or credit
card payments, he said.
DSG Financial Services handles the back end of the online
finance application process, although some finance customers are
sent directly to the banks with which Autoquake has partnership
agreements – a list which includes Santander and Bank of Scotland.
After filling in a form, customers receive a credit decision
“within a few hours or the next day”, said Skantze, and it is then
up to the customer to decide whether to take up the credit or not.
“It’s a very smooth process,” he added.
Separately, Autoquake has announced that it has recently signed
up several new fleet partners, and boasts remarketing agreements
with 11 of the top 20 largest players, including ALD Automotive and
ING Car Lease. Duncan Metcalfe, head of remarketing at ING Car
Lease commented: “We have remarketed cars through Autoquake.com for
18 months now and are pleased with the performance. Consumers pay
higher prices for cars than what is achieved in the trade and that
ultimately results in better returns for us.”
Jo Tacon
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
