AutoXchange, a South African FIRST, has grown to become the largest B2B online marketplace in South Africa.
It's meteoric success may be attributed to the multi-faceted market requirements that it satisfies.
Industry Requirement
The AutoXchange was born out of an industry wide need to mitigate Corporate Governance risks associated with trading of vehicles.
Some of the key requirements were:
More realistic pricing on trade vehicles
Elimination of subjective trading practices
Transparency, based on data rather than personal relationships
Wider geographical exposure
Reduction of over-age stock
Operational Requirement
Various Dealer Groups were unable to give first option to Group Dealers on trade units which were tending to leak into the trader and non-franchise market. Not only were poor trade prices being received, but the opportunity to retail those vehicles from within the group was also being lost.
Electronic Requirement
The wide geographic dispersion of dealers, and the range of different DMS's meant that a web based platform was required. MOL, the de facto service provider of web-based solutions to the South African Automotive Industry, was approached by various dealer groups in this regard. The result was the creation of a highly scalable and flexible application that allows for the loading and exposure of trade vehicles to various user types based on strict access control parameters.
Industry Success
At the time of writing, the AutoXchange handles over 1000 vehicles per month, with over 350 being traded at prices in excess of R3000 of the initial cover/reserve price. Over 40% of the traded vehicles are kept within the group as well.
