2:35 pm, August 26, 2022
The Covid pandemic has proved that the worlds of physical and digital retailing can co-exist for used car dealers.
That’s the view of Julian Humphreys, CEO of recently-launched digital remarketing firm, MOTOM. Speaking on Car Dealer Live, Humphries said how the used car industry operated during the pandemic is here for the ‘long term’.
‘We think there’s a space for a digital solution that adds value to both the buyer and the seller,’ he explained in the video posted at the top of this story.
‘Through the pandemic, digital was maybe the only way a buyer or seller could buy or sell. Today there’s a combination of the two that will exist in the market in the long term.’
Speaking of launching MOTOM in June 2022, he said: ‘For us, entering the market, did we think that the shortage of used cars was going to be here? Yes. Have we come from some amazing strategic position where we’ve said the best time to launch is June 2022? No, we didn’t.
‘We’ve been opportunistic about it. What we’ve learned is that there are great conversations to have because we’re not in a normalised market.’
MOTOM launched in June of this year with the aim of ‘reimagining’ the world of remarketing. Importantly, though, the company has seen a gap in the market to offer real value to dealers.
Before launching, MOTOM began a joint venture with Australian firm Flipacar to bring the remarketing technology to the UK. After carrying out some research in the very unique UK used car market, it realised there was a real opportunity to offer something a little different.
‘We have remodelled the platform and instead of being a listing service, we’re a live trading platform which combines some of the aspects of social media and where users connect with others in a trusted environment,’ said Humphreys.
The platform is available on desktop and via the Apple App Store and Google Play store. Once registered, dealers are invited to make connections with other users to create a wholesale ‘ecosystem’, where dealers trade with dealers, and vendors trade with dealers.
Despite having only launched two months ago, business is booming and MOTOM is constantly learning how to best support its dealer partners.
For the time being, it’s focused on creating the best platform for dealers to trade in a social and professional environment, and to help them save time.
Growth areas will be in catering for a larger pool of vehicles such as HGVs, motorbikes and the leisure market. And in the long term, an entry in the wider European market is on the cards.
Other discussion points in the video are:
- How the MOTOM platform works
- How MOTOM can save dealers time
- How MOTOM can get more customers into a dealer’s showroom
- How the booming used car market has influenced the creation of a new business
You can watch the full interview at the top of this story
