The automotive data and technology consultancy conducted an audit of revenue opportunities to mark its second anniversary.
It found that around 3% of vehicles in the UK have outstanding safety recalls, which could generate £94m in extra labour revenue for dealers. Total revenues for this work, including parts and labour, would top £166m.
We connect dealers with recall databases to identify vehicles that need work. It's a low-cost way of generating additional aftersales revenue and an opportunity that could be worth up to £300m over the next five years, and in addition to the financial benefits for the sector, we are also helping to improve UK road safety.
Our business has grown as we help dealers and the automotive supply chain harness the power of data to create new revenue streams. Our combined expertise and experience have helped launch new digital services and unlock opportunities for dealers. We've come a long way, and the future has never looked more exciting.
The company advises dealers to remind customers of their obligations to schedule recall work after receiving notification from the OEM. Drivers can continue to use cars affected by a Safety Recall while waiting for the issue to be fixed ‘unless informed otherwise’.
Auto Data Solutions is led by former cap hpi senior managers Jon Sheard, Amanda Morgan and Mark Bassford. It helps dealers, fleets and OEMs trade more efficiently by using the latest technology and smarter data.
Over the last two years, it has helped automotive companies monetise their data and establish new partnerships to accelerate their growth.
It is possible to balance customer satisfaction with corporate profitability by adopting a data-centric approach. The latest technology can create hyper-personalised offerings that deliver the loyalty of happy customers. The recall study shows that using data can provide benefit to the customer while improving revenue for the dealer.
Auto Data Solutions’ customers include fast-growing fleet software company Digital INNK and international media group, Autovia. It has recently helped dealers meet their compliance requirements with audits and advanced data cleansing.
Data assets are the driving force behind the value and growth of today's automotive businesses. Building a framework to identify and realise the potential of your data is therefore essential to maximising your organisation's future performance and the value you deliver to shareholders.
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AM Online: Safety recalls are car retailers’ £166m untapped aftersales opportunity