MOTOM, an online platform that aims to transform the wholesale vehicle remarketing industry, has launched operations in the UK.
Claimed to be a low-cost offering, the remarketing platform is designed to be interactive and intuitive.
It intends to accelerate the process of vehicle wholesaling to minutes instead of hours.
This is said to result in higher margins for vendors as well as buyers, simplified trading experience in addition to lower trade timelines.
Marketed as a platform that offers “real value” to buyers and sellers, MOTOM intends to bring about a ‘fundamental change’ in the wholesale remarketing space.
Speaking of its objective, the firm said in its website: “The automotive industry globally will continue to keep moving toward digital solutions. MOTOM will expand the digital focus to automotive wholesaling to support the changing market environment in vehicle remarketing.”
The platform is led by a team of veterans from finance, fleet, and leasing industries. These include CEO Julian Humphreys, CFO Lisa Edwards, chief commercial officer Mel Goodliffe,
along with chief technology officer John Leightley.
Humphreys stated that MOTOM’s launch was based on research, which highlighted the requirement of a trading platform that enables motor dealers to buy and sell in minutes.
Besides, dealers were looking for an easy-to-use platform, he noted.
“We also found that many wanted additional tools to help their businesses fight back against the wave of disruption in the sector and be assured they are dealing with an independent business,” Humphreys added.