The automotive landscape is changing rapidly. The digital revolution - accelerated by the economic pressure of Covid-19 - has transformed online buying behaviours and introduced a new wave of advanced technology that'll inevitably force the automotive industry to rethink its business model.
The Covid-19 pandemic has had a swift and severe impact on the industry. After initial supply and manufacturing disruptions, the sector is now experiencing a demand shock with an uncertain recovery timeline.
Although experts forecast that automotive sales will decrease by 14-22% in 2020, there is some light at the end of the Covid-19 tunnel. The global pandemic has highlighted inefficiencies within the automotive infrastructure and sparked much-needed innovation and investment in new technology.
Amidst such uncertainty, it is critical that dealerships and independent franchises take advantage of this new digital era and create cost-effective operational efficiencies to navigate through these turbulent times or else they run the risk of liquidation.
At V12 Vehicle Finance, we've been working closely with our strategic partners to help customers pivot in the wake of Covid-19, ensuring financial security and replacing manual processes with slick online digital trading. Technology-led integrated services are set to improve and streamline dealerships as we transition to the "new normal".
Integration at V12VF
Dealers want a more integrated proposition that is becoming more essential for our industry. Rest assured we are supported by and integrated with industry-leading, award-winning financial services - currently iVendi, Codeweavers, Auto Convert and DealTrak to follow. We pride ourselves with providing you with the right tools to run your business more effectively and efficiently. Our technology-led approach, using on-line architecture and service delivery, ensures both dealers and their customers can purchase and finance vehicles how, when and where they want.
Codeweavers and iVendi
Codeweavers and iVendi make up the vast proportion of the non-broker online calculator market at present. Both high performance integrated portals help dealers and customers to view multiple calculations using online calculator tools, driving instant quotes on multiple vehicles, leading to straight-forward decisions.
Putting dealers in control of their customers' online journey, the multi award winning platforms help to deliver omni-channel retail solutions for vehicles and financial services. These platforms connect the customer, dealer and lender at all stages of the vehicle buying journey.
With both our Codeweavers bespoke branded calculator, and the iVendi Transact product if a customer applies for Prime V12VF and the application is not successful, dealers can resubmit the application to our sister brand, Moneyway. Codeweavers also integrates seamlessly with our partner, Click Dealer.
With our Click Dealer integration, Click provides a portfolio of seamlessly integrated products and services, including websites, DMS, stock management and digital marketing. Within Click Dealer's web platform, you can use our V12VF and Moneyway API's to finance your Prime and Near-Prime business.
As the automotive industry recovers from the brutal impact of Covid-19, dealerships must evolve, adapt and come out of the other side stronger. As sales margins grow exponentially thinner, the sector must look for new, intelligent ways to streamline efficiencies and cut overhead costs.