February 28, 2021

Market and Financial News Aggregator

Digital transactions will drive industry recovery and elevate consumer experiences in 2021 says AutoDeal CEO

3 min read


AutoDeal.com.ph; the Philippines’ no.1 online automotive marketplace finished 2020 in high spirits despite a 40% drop in annual vehicle sales as more consumers shift to the platform as a means of facilitating their vehicle purchase online.

“We experienced more than 70% growth in our partnerships with vehicle brands last year; helping both automakers and dealers to reach and transact with consumers at a very efficient cost. At the same time we helped consumers to stay safe by enabling them to do the vast majority; and in some cases, all of the transactions online through our platform with minimal physical contact at the dealership,” states AutoDeal.com.ph Chief Executive Officer, Daniel M. Scott.

Now coming to its seventh year of operation, AutoDeal solidified its position as the market leader by achieving 30,000,000 annual website visits* and by expanding its overall partnership network to more than 75% of all new car dealers in the country. Notable new partnerships last year included prominent brands like Mitsubishi, Suzuki, Isuzu, Kia, and Chery.

In total, the AutoDeal platform helped generate more than 25,000 customers in 2020. Accounting for just over 10% of the total market but claims that sales alone may be a lagging indicator of the role that digital plays in the overall purchase journey.

“We are pleased with the sales that we were able to contribute, which accounted between 2% to 20% of our partners’ total retail sales. However, we believe that the influence of marketplaces and digital mediums, in general, should also take into consideration how consumers use platforms like ours to make digitally-influenced decisions early on in the car-buying process. As more budget-conscious consumers come online, AutoDeal will become essential at fulfilling multiple legs of the car buying journey to help consumers find the best deal.”

“2020 has highlighted the importance of a digital strategy and how that will fit together in an omnichannel experience over the coming years. As we move into 2021, we will continue to provide ways to bring continuity between the manufacturers and dealers, reduce friction in the sales process and increase transparency across organizations, ultimately elevating the customer’s experience and increasing the financial return for our partners.” Added Scott

Looking forward, AutoDeal is expecting that digital transactions will continue to help drive the recovery of the Philippine automotive industry and is continuing to invest in systems and processes to provide more convenience for consumers while at the same time enabling dealers to leverage its digital platform with increased efficiency.

The company’s efforts are being reciprocated by an industry that is becoming increasingly receptive to digital commerce. In 2020, the response time experienced by consumers after requesting a full quotation from a dealer on AutoDeal accelerated by sixty-six minutes; with its top 50 fastest operating partners being able to furnish the required information within thirty minutes during business hours. The platform was also able to pilot an online payment gateway that enabled a portion of its consumers to facilitate the reservation phase of the buying process across its platform.

As online replaces many of the traditional practices done at the showroom, digital marketplaces offer the perfect destination for brands and dealers to attract in-bound consumers with high purchase intent at relatively low cost. As the market continues to recover, AutoDeal promises to build more ways to help dealers efficiently manage high inquiry volumes without the need to increase overheads. Through continued innovations in our platform’s lead-management service; we aim to generate a win-win outcome for both consumers and dealerships.

 



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