Study Reveals UK Dealer Groups Could Save £1m Annually by Automating Used Car Online Merchandising Processes

The findings from Autofinity’s study on the costs associated with online vehicle merchandising for UK dealer groups are eye-opening. The analysis conducted by chief solutions officer Chris Banks revealed that dealer groups could save over £1m each year by automating their used car online merchandising processes.

The study identified 21 separate tasks involved in vehicle merchandising, from validating prices to managing inbound leads. The initial setup costs alone were estimated at £20.15 per vehicle, with ongoing maintenance adding up to £30.77 per vehicle per week. When applied to a stock of 2,000 vehicles, the total annual expenditure reached a staggering £3.2m.

However, Autofinity’s ViHUB platform offers a solution to significantly reduce these costs through automation. By eliminating double keying and improving data efficiency and accuracy, ViHUB can cut initial setup costs to just £18 per vehicle, resulting in potential annual savings of £1.87m.

The benefits of automation extend beyond initial setup costs, with dealers saving an additional £13 per vehicle per week on stock management. This translates to a group-wide saving of £1.33m per year.

The potential savings for dealer groups are substantial, and the impact of automation on efficiency and cost-effectiveness is undeniable. By integrating systems and automating tasks, dealer groups can not only save money but also free up valuable time for employees.

The results of Autofinity’s study highlight the importance of embracing automation in the automotive industry to stay competitive and maximize profitability. With the potential to save over £1m each year, dealer groups have a compelling reason to invest in technology that streamlines their online merchandising processes.