Brent Huisman Can Tell You The Future of Wholesale Auto Remarketing

The future of wholesale auto remarketing In recent years, many changes have been seen in the automobile industry.

It can be safe to say that it’s the time for a wholesale digital revolution.

Research studies show that recently most of the automotive wholesale transactions were online. This shows the turning point for all the automobile businesses where all the sellers and buyers have the opportunity to reshape their business and propel the remarketing business on a large scale. If you want to know about the future of wholesale auto remarketing, then keep reading.

Before jumping into the future of wholesale auto remarketing, you need to understand wholesale auto remarketing, so let’s see.

What is wholesale auto remarketing?

Generally, wholesale auto remarking is the proper solution for all the buyers and sellers as it offers better options to car dealers, OEMs, leasing services companies, and fleet managers. The wholesale auto remarking involves the used car industries and certified pre-owned to run the business that is beneficial for both buyers and sellers. The new remarketing strategy covers the latest development in the industry. As a result, the demand for wholesale auto remarketing is growing.

Now, let’s move to understand important considerations for sellers and buyers while getting involved in wholesale auto remarketing.

What is the most important thing for a consignor or seller?

In wholesale auto remarketing, there are certain things that matter the most for a seller or consignor. It includes cost, retention, speed, and brand or reputation. If you are a seller of a vehicle, then it is crucial for you to look after certain important factors to make it an effective selling.

What is the most important thing to a buyer in wholesale auto remarketing?

Similarly, a buyer has certain important things to focus on in wholesale auto marketing, including vehicle price, fees, selling ability, speed, vehicle quality, and easy process. If you are a buyer of a vehicle, then it is essential for you to consider all these factors.

Now, let’s understand the factors responsible for the transformation in the automotive wholesale remarketing industry to understand the future of wholesale auto remarketing.

What are the factors responsible for the transformation in the automotive wholesale remarketing industry in 2022?

Research says that usually, it takes two to three decades to bring transformation into a daily tool through a novel innovation adoption. For instance, the emergence of vehicles hasn’t only just replaced horses; but also they’ve brought transformation into the shaped and commerce cities. In the present scenario, a similarly transformative shift has been seen in the experience of the automotive wholesale industry that can be defined by important factors like personalization, access, and connectivity. So, let’s understand these important factors. · Connectivity is the key to convenience and speed Research studies show that any business can achieve success with its connectivity power. In the case of wholesale auto remarketing, the same thing can be applied. Here, a dealer can enhance its business on their own terms with increased connectivity. Moreover, a dealer can also enjoy the convenience of an anywhere and anytime connection to the marketplace along with achieving many other significant benefits. Moreover, a buyer can able to meet immediate business needs with 24/7 connectivity and source inventory on-demand. For instance, a seller can able to move vehicles within hours with 24/7 connectivity as it does not take weeks longer to work.

These days’ smartphones are playing an important role in buying and selling vehicles within a minute. It has been identified that vehicles can be listed from a smartphone rather than transported to physical auctions. In other words, it can be said that a whole new level has been reported in the digital marketplace, which includes fueling transactions and building trust with the support of mobile technology. Likely, the development has been seen in the dealership profits, wholesale strategy, and buyer’s confidence with the technological advancement in wholesale auto remarketing. · A great opportunity for sellers and buyers with great access Nowadays, buyers are getting much more access to inventory because of the further shifting of the marketplace to digital. It has been identified that

every corner of the country has a superabundance of options to select automobile products. Moreover, sellers are also getting more options to connect with thousands of buyers through digital mode. These sellers are increasing sales opportunities significantly.

It has been identified that the marketplace can be well shaped with unparalleled access to information by spurring innovation in vehicle representation and condition reporting as well as providing more accurate tools for price discovery. Therefore, it can be predicted that the great accessibility will enable the dealers to sell and buy more confidently and smartly not only today but also in the future. · Personalization as a success for sellers and buyers The personalization options have made it easy for everyone to explore wholesale auto remarketing in 2022. As compared to the physical auctions, it has been predicted that the introduction of personalization technology has the ability to enhance the digital wholesale marketplace. Sellers and buyers can able to maximize their profits and achieve unparalleled efficiencies with the support of machine learning and artificial intelligence (AI).

The personalization vehicle option is considered good for both sellers and buyers as it helps the buyers reach sellers and find relevant inventory faster.

Moreover, artificial intelligence is helping the sellers to identify the best locations for inventory sales as well as automating strategic pricing. Further, the application of automated damage detection and other disruptive technologies shows greater potential to enhance the digital marketplace and improve the changes in auto wholesale remarketing.

Overall, the monumental changes in the digital world are expected to shift many things in the wholesale marketplace. However, the exact roadmap is yet to be determined for the future of the wholesale digital marketplace. But the clarity can be seen with more access, personalization, and connectivity for the buyers and sellers. Thus, if you want to get involved in wholesale auto remarketing, then take care of new opportunities and scope for selling and buying a vehicle.

About Author: Brent Huisman has been in the auto finance industry for over 22 years beginning with GE Capital Auto Financial Services. From there Brent went to run part of the Remarketing and Loss Mitigation departments

at Bank One which was later purchased by Chase Auto. Brent has also worked for KAR Auction Services as VP of North America Dealer Sales. Since 2007, he has worked on several retail and lease portfolios such as HSBC and Santander before running Repossession and Remarketing for Exeter Finance. Brent holds a BBA of Marketing from the University of Iowa as well as a MBA from Benedictine University from Chicago, Il.