Automotive

Experience seamless transactions, competitive bidding, and a diverse inventory with our automotive auction platforms.

NovaFori empowers the automotive industry to embrace digital change

We build highly reliable and scalable marketplace and auction software to conduct multiple and simultaneous online auctions, providing both sellers and buyers with a transparent and efficient mechanism to transact cars.

Explore Auction & Trading Technology

Challenges / Opportunities

Inventory management

Automotive can be limited by physical location and have a capped buyer pool, having a knock on impact of price outcomes.

Inventory management systems

Online Auctions facilitate cross border and expand reach. Boosting buyer competition and thus end prices.

Supply chain disruptions

Available automotive inventory is usually large and complex with buyers having a limited attention span. This can lead to poor data quality and a lack of market knowledge.

Supply chain visibility platforms

Marketplace enables inventory to be segmented and increases discoverability for buyers, increasing price outcomes.

Legacy infrastructure

Legacy infrastructure and manufacturing processes hinder innovation and agility in responding to market demands.

Advanced manufacturing technology

Embracing advanced manufacturing technologies like additive manufacturing enhance flexibility, efficiency, and product customisation.

Lack of Data

Adapting to shifting consumer preferences, such as increased demand for electric vehicles or shared mobility solutions, can be challenging without sufficient quality data.

Marketplace data analytics

Leveraging data provided by an online platform can provide insights into shifting consumer preferences and market trends, guiding sales and marketing strategies.

Global competition

Intense competition from global automotive manufacturers, especially those in emerging markets with lower labor costs, can pressure profit margins.

Collaborative partnerships & alliances

This can help automotive manufacturers pool resources and expertise to address common challenges and stay competitive in the global market.

Building digital auction platforms to scale your business

We understand automotive auctioneers, given our proven track record of building enterprise-scale auction and trading platforms.

Our digital marketplace and auction solution has already made a positive impact in Europe's used-car market, boosting liquidity across borders and jurisdictions, such as with CarNext. On the data science side, NovaFori deployed its recommendation engine to the CarNext B2B marketplace.

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We know we get the best price – the highest price wins – and the process is a transparent one. In my view electronic auctions are the way to go. They represent the future.