SigningCeremony 13Dec 1

Announcing the launch of a new joint venture, Autorola MENA Holding Limited – Dubai Car News

Two of the strongest names in the automotive industry have come together to launch a new joint venture – Autorola Middle East and North Africa (MENA) Holding Limited – with the mission to reinvent the region’s B2B used car market. The joint venture will introduce an integrated and end-to-end digital platform to the industry, with 24/7 auctions, transparent pricing, streamlined, automated workflows for every step of the remarketing process. It will make the process digital and easy. . This will allow for better trade ratios, faster moving stock, and a better customer experience.

The pre-owned automobile industry in the UAE, one of the most important in the world, is now valued at USD 14 billion and will grow rapidly to USD 20.5 billion by 2025 with an expected CAGR of 10-12%. It is predicted to be USD. However, the current state of the used car market faces many legacy challenges and pain points experienced by regional automotive companies, such as: manual processes and Excel-based workflows, inconsistent pricing, in-person Limited by auctions held at Once a week, no vehicle inspection, decentralized remarketing process and silent decision making. The new joint venture’s digital platform will address these critical issues for all automotive companies and used car dealers in the region.

With Autorola MENA, the digital platform is customized and customer-centric, covering every step of the fleet monitoring, fleet operation, order and repair, booking, evaluation, and remarketing process, including transfers, storage, insurance, Includes cleaning and inspection modules. Pricing, a digital showroom, auction selection and management, and payments. It also offers document sharing and collaboration tools, as well as an integrated “flat chat” platform, making emails, SMS messages and phone calls with vendors and other partners unnecessary.

Autorola MENA is the result of a collaboration between Autorola A/S and Al-Futtaim Automotive. Autorola A/S is a global leader in online vehicle remarketing and automotive IT solutions, operating in 19 countries. The global platform has more than 55,000 active dealers and 815,000 cars auctioned in 2021, with existing clients including banks, rental dealers, leasing dealers and others.

Al Futtaim Automotive, which provides customers across the region with the world’s most recognized automotive brands, services and mobility solutions, sees immense potential in the digital transformation of the used car market in the Middle East. As a leading automotive group, Al Futtaim Automotive aims to bring its regional scale and expertise to the new venture, with the hope that many other leading automotive companies will join and support the UAE’s digitalization efforts. will enable to create a more orderly, progressive and world. -The segment business ecosystem, especially in the context of the used car market which currently appears to be very disorganized.

“This collaboration is both strategic and synergistic,” said Peter Grofthauge, CEO of Autorola A/S. “As one of the world’s most recognized and widely respected automotive brands and the go-to market partner for expansion in the Middle East, Al Futtaim Automotive has the reputation, knowledge of the local market and regulations. also brings proof of concept. Operations We bring end-to-end digital solutions, technical expertise, a broad pool of buyers with high bid volumes, convenience for sellers, and transparency and traceability. Together, we tapping into a whole new business ecosystem.”

Al Futtaim Automotive President Paul Willis commented: “This project is an important part of our growth strategy, and a historic first step for our company to enter the software business. Autorola is a leader in this field. and their complete end-to-end digital solutions allow us to serve a broad B2B customer base through a modern and digitized customer journey. Using Al Futtaim as a test bed in the region, this independent and neutral new The tech giant will likely change the face of vehicle remarketing in the UAE and the wider region.”

Autorola MENA is set to launch in the UAE and will rapidly expand to other countries in the region. The platform is built to cater to all car brands and corporations, from the outset, all client data is stored and protected on AWS servers and is treated as highly confidential.

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