UAE Business: New JV Autorola Mena Holding to reinvent B2B used-car market – Gulf Digital News

UAE Business: New JV Autorola Mena Holding to reinvent B2B used-car market – Gulf Digital News

Two formidable names in the automotive industry have come together to launch a new joint-venture – Autorola Middle East & North Africa (Mena) Holding Limited – with the mission to reinvent the region’s B2B used-car market.

This joint-venture will introduce an integrated and end-to-end digital platform for the industry, which will digitise and simplify every step of the remarketing process, with consistent, transparent pricing, seamless, automated workflows, and auctions taking place 24/7.

This will allow better trade-in ratios, stock that moves faster, and an improved better customer experience.

Pre-owned automobile market

The pre-owned automobile industry in the UAE, one of the most important in the world, is now valued at $14 billion and is forecast to rise quickly to $20.5 billion by 2025 with an anticipated CAGR of 10-12%.

However, the current state of the used-car market is faced with many legacy challenges and pain-points experienced by regional automotive companies, such as: Limited by manual processes and excel-based workflows, inconsistent pricing, in-person auctions that take place once a week, no vehicle inspection, decentralised remarketing processes and siloed decision-making.

The new joint-venture’s digital platform will address these key pain points for all automotive companies and used-car traders within the region.

Customisable

With Autorola Mena, the digital platform is customisable