Almost one in two motor finance applications made during 2022 will happen online, according to new figures compiled by iVendi.
Dealers and other automotive businesses are being warned of “a period of heightened risk” of cyber-attacks.
The UK’s established used car retail operators will continue to dominate the sector after ramping up their breadth of services to see off new market disruptors such as Cazoo and cinch, iVendi has said.
Used car dealers need to collaborate with motor finance partners to effectively compete with new digital disruptors, says iVendi.
Delegates at next week's AM Live car retail expo will hear connected retailing tips from iVendi that can help them successfully compete and better manage the digital sales journey.
Digital automotive retail finance specialist iVendi has continued its recruitment of C-suite executives with the appointment of former Cox Automotive Europe board member Darren Sinclair.
Simon Hunt has been appointed to the newly-created role of head of information security and compliance at iVendi.
Former Chrysalis-Solmotive co-owner Paul Bennett has joined iVendi as senior vice president for international business and banking alliances as part of a plan to triple revenues within three years.
iVendi has invested in a new learning and development programme for its management team to support its growth plans.
Used car buyers are paying higher deposits on their motor finance deals to combat rising prices, according to new data from iVendi.
IVendi has published a new white paper that is designed to help dealers make their businesses fit for the post-pandemic used car, van and motorcycle markets.
More than a third (37%) of used car transactions, including finance applications, took place entirely online during COVID-19 'Lockdown 3', according to iVendi.
Automotive ecommerce specialist iVendi has helped UK car retailers to facilitate £1.3 billion in vehicle sales in the past 12 months – up £200m despite the impact of COVID-19.
Staff headcount at iVendi is set to “almost double” over the next three years, in support of expansion plans in the UK and Europe, says chief executive James Tew.
Daniel Glenn has joined iVendi as vice president of technical operations, responsible for building an IT team that will expand to support the company’s growth plans over the next three years.
Online motor retail is dividing into a market of simple and complex transactions in an emerging trend heightened by the COVID-19 pandemic, says iVendi.
iVendi has signed a deal to provide motor finance technology for new and used car platform YesAuto.
COVID-19 ‘Lockdown 2’ has sparked a rapid rise in the volume of digital car finance deals being forwarded to dealership customers, according to iVendi.
Dealers need to ensure their technology is keeping up with new Financial Conduct Authority (FCA) regulations on commission unveiled recently, iVendi is warning.
UK car dealers must step up their digital services or risk being left behind, as the COVID-19 pandemic has led many customers to carry out more research from their sitting rooms before they visit car showrooms to agree the deal.
