The Autorola Group has launched Autorola Middle East & North Africa (MENA) Holding Limited – with the mission to reinvent the region’s B2B used-car market. Autorola MENA is the result of a collaboration with Al-Futtaim Automotive which provides some of the world’s most-recognised automotive brands, services, and mobility solutions to customers across the region.
Integrated digital platform for the UAE
This joint venture will introduce an integrated and end-to-end digital platform for the industry, which will digitise and simplify every step of the remarketing process, with consistent, transparent pricing, seamless, automated workflows, and auctions taking place 24/7. This will allow better trade-in ratios, stock that moves faster, and an improved better customer experience.
The Autorola MENA digital platform is customisable and customer-focused, with modules for fleet monitoring, running fleet, ordering and repairs, booking, appraisals, and every step of the remarketing process. This includes the transfer, storage, insurance, cleaning and inspection, pricing, a digital showroom, auction selection and management, and payment. It also offers document sharing and collaboration tools, as well as an integrated “Fleet Chat” platform, making emails, SMS messages and phone calls with vendors and other partners unnecessary.
Modernising the region’s used car market
Autorola MENA aims to modernise the region’s used-car market by addressing the legacy challenges and pain-points experienced by regional automotive companies.
“This collaboration is both strategic and synergistic,” said Peter Grøftehauge, Autorola’s Group CEO. “As one of the world’s most recognised and widely respected automotive brands and the go-to market partner for expansion in the UAE, Al-Futtaim Automotive brings credibility, knowledge of the local market and regulations, as well as the proof of concept and operations.
“We bring the end-to-end digital solution, the technological expertise, the wider pool of buyers with higher bid volumes, convenience for sellers, and transparency and traceability. Together, we are tapping into a whole new business ecosystem.”
Al-Futtaim sees immense potential in the digital transformation of the used-car market in the Middle East and aims to bring its regional scale and expertise into the new venture, with the hope that many other leading automotive companies will join in. It will enable the UAE to create a more organised, progressive, and world-class business ecosystem, especially within the context of the used-car market which currently seems very unorganised.
Paul Willis, President of Al-Futtaim Automotive, commented: “This venture is a vital component of our growth strategy, and a historic first for our company to enter into the software business.
“Autorola is a leader in this field and its complete end-to-end digital solutions allow us to serve a wider B2B customer base through a modern and digitised customer journey. Using Al-Futtaim as a testbed in the region, this independent and impartial new tech company will change the face of vehicle remarketing in the UAE and the wider region for all prospects,” he added.
Expanding across the region
Autorola MENA will start in the UAE and expand quickly to other countries in the region. The platform is built to cater to all car brands and corporations, right from the inception, with all client data being kept secure, protected on AWS servers, and treated as highly confidential.
The used automobile industry in the UAE is one of the most important in the world valued at US$ 14 billion and is forecast to rise quickly to US$ 20.5 billion by 2025.