Countries in recession such as Portugal that are faced with a huge stock of used vehicles with no major trade or consumer demand are using cross-border remarketing to sell and export these vehicles online to free up much needed cashflow. 

Meanwhile, other countries where used vehicle demand exceeds vehicle supply are using online cross- border remarketing channels to source stock and drive an alternative source of profitability at a time when new car sales are falling in most European countries. 

Autorola is Europe’s largest online remarketing company with subsidiaries in 17 European countries and over 70,000 buyers registered in 32 countries. It is running 100 cross-border online auctions at any one time through its website, offering buyers thousands of cars for sale.  

”Cross border buying and selling has been growing over the last couple of years, but the problems experienced by the global economy has seen this area grow dramatically in the first few months of 2012,” said Peter Grøftehauge, Autorola’s owner and chief executive. 

”If an entire country is not buying used cars then the danger for asset owners is that they sit parked up for months losing money. Cross-border remarketing enables them to put vehicles up for sale through our online channel and within a few weeks quickly dispose of those cars, freeing up much needed cash,” he added.

Two working examples of countries/markets benefiting from cross-border remarketing.  

Demand for new cars in Poland is very low with dealers being penalised by the Government for importing new cars.  This has led to a high demand for used cars and Autorola Poland’s import sales figures are up 45% year-to-date as dealers buy stock online through Autorola from across Europe. Portugal’s economic challenges have been well documented and demand for cars both new and used has fallen dramatically. Portugese leasing companies, asset owners and dealers are offering their used cars online to quickly dispose of unwanted stock. Autorola Portugal has experienced a 589% increase in used car exports online in 2012.

Advice and tips on cross border buying and selling 

Sellers

Vendors should price vehicles realistically to ensure they don’t undervalue or overvalue a car. Speak to Autorola’s experienced team to help with valuations.

Photographs and supporting paperwork about individual cars – including a damage report if applicable – should always accompany a car for sale online.

The more information a buyer has available to them the greater their confidence in buying a car remotely online, and the more likely you are to achieve a quick sale at the right price.

Different makes and models of cars are in demand in different countries – Autorola can provide you with this type of advice country by country.

Buyers

Once you have purchased a vehicle your money sits safe in an escrow account and is only released to the vendor once you have received and are happy with your car.

If there are questions you have on a car up for sale, then email or pick up the phone to the online remarketing supplier. They will happily help answer any questions you may have.

Good online remarketing suppliers should offer help and support in the event of a dispute between seller and buyer.