A world leader in car valuation

The aim of the agreement is to combine the advanced image-based damage recognition technology of French start-up Monk with the experience of autobiz, a European leader in the automotive quotation. This product is the result of joint R&D between the two companies.

Signed on a perimeter of 6 European countries, this agreement aims to use autobiz big data on behalf of Nissan Europe. This global project will enable unified decision making, from the European head office through Nissan's national subsidiaries and up to nearly 1,000 of the brand's points of sale.

Last week autobiz passed the 1,000 points of sale subscribed to its autobizMarket tool in Spain. Mainly dealers and major car dealers, our customers use our data on a daily basis to manage their car stocks, pricing, trade-ins and even find bargains when they buy!

The automotive market is facing its 5th major crisis this century after 9/11 (2001), the financial crisis (2008), the Euro crisis (2012) and last, but not least, the Dieselgate (2016). The Coronavirus crisis is however difficult to compare with previous situations, as its causes and effects are unprecedented.

International financial standards have been tightened after the financial crisis of 2008, especially for the valuation of vehicle inventories of manufacturers and short- and long-term rental companies. After a specialised audit, autobiz has become the first car valuation company to comply with IFRS13.

In Spain transparency of online given car valuations is affected by the increase of online valuations given based on signing a financing project. As this phenomenon is gaining momentum, autobiz decided to apply its knowledge on advanced big data methods and its experience to offer real market value.

This alliance confirms the PSA Group’s ambitions in the used-car business. For autobiz, it rewards the work accomplished over the past decade in helping car manufacturers and distribution groups implement turnkey solutions for online automotive and trade-in pricing.

Car manufacturers, importers and dealers in Austria and Switzerland can now request access to all the features of autobizMarket, which offers a complete analysis of the current trade market for professionals to evaluate their own inventory and optimize decisions on the distribution of used cars online.

Brasil has a high potential for autobiz. Collection of data has been initiated on since April 2011 and autobiz car valuation is now being launched to the Brasilian used car market. In a country currently facing a crisis, the demand for automobiles is now centred on recent used cars.

The company expects to deliver its first market values for Portugal by the beginning of the second quarter. The context is favourable. The country returned to growth in 2014. Its GDP grew by a further 1.5% in 2015, following a 0.9% increase in 2014.

The international used car valuation and market intelligence provider autobiz has announced that it will start publishing its data on the Indian market on a regular basis as of Q3.

As part of its European deployment, autobiz is now able to locate qualified car buyers for a network of nationwide dealers in Italy. autobiz SA launched autobiz-usato.it at the beginning of February. The company’s office in Milan has already been providing the autobizMarket platform to national automotive dealers since June 2015.

This new feature of the autobizMarket platform enhances the operational efficiency of used car professionals. It enables the precise identification of a vehicle's version, with all its options.

New: autobiz has developed a programme capable of adjusting the prices of a used-vehicle stock in real-time. The software, developed jointly with the SAMM laboratory at La Sorbonne and a major French manufacturer, is now entering a test phase on several pilot sites.