We spoke with Julian Humphreys, MOTOM CEO. After its launch last autumn, we find out how the business has helped with some of the challenges faced by the sector
One year on how has MOTOM been able to reimagine remarketing?
The first thing we’ve done is bring an independent business to market, which our community really values, as we have a single focus to support their business.
The second is that we’ve deployed great tech, which means the wholesale buying process can be more efficient and quicker, in some cases we’re selling vehicles in less than a minute. From a selling perspective, the tech is so light touch once we’ve onboarded a dealer to market vehicles. In summary, we’ve brought speed and efficiency to the wholesale remarketing process and taken cost out. Our sophisticated platform allows sellers to choose who they market their stock to; in a sense creating closed or tiered sales, which can be important for OEMs.
We hear that you have more than 700 users, who are they?
We have a real mix of users, from vendors who are selling on our platform; among these are (rental, lease and fleet management companies). Across the dealer network, we have independent dealers, several of the top dealer groups and some of the car supermarkets, so we add value to a cross-section of the market.
Buying stock is still a challenge, how do you think you’ve helped?
With our tech platform being so light touch, it does the searching for the buyers, so we have made it easy to buy vehicles. We have managed to bring new sellers to several buyers, so we have made a difference. This is not to say that MOTOM is of the right scale yet, we still have lots of work to do. The challenge when building a wholesale community is ensuring the right mix of users.
Our team are constantly focused on best aligning the requirements of both the seller and the buyer. Big data gets talked about a lot these days and MOTOM is harvesting transactional data to help its community achieve the best outcomes.
Moving overaged stock can be key to a dealer’s profitability and cash flow, how have you helped?
As I mentioned earlier, we have worked hard to build a seamless approach to marketing stock. This means that our sellers can leverage our APIs and have stock auto-published for sale. All of this at no cost to the seller. We bring a contemporary approach and are real partners, so well positioned to help as the market starts to turn.
Are there future developments?
It would be wrong to stay silent on this as we have a great development roadmap. We have updated our app this month with new features aimed at making it even easier to use. We have stocking finance, logistics and inspection currently in test, which will allow our users access to their stock finance partner, book vehicle movements and provide vehicle inspections using AI tools – all from the MOTOM platform.