Bearsted, United Kingdom – 13 July 2021: The Automotive Transformation Group has launched today as the new entity and brand name of the recently merged leading automotive suppliers, Autofutura and GForces. Created to revolutionise the entire vehicles sales process, the new Group offers the industry’s first market-ready, global and scalable solution for consistent, automated vehicle cycle management optimisation. It will enable billions of pounds in online sales and efficiencies across the global automotive industry.
As digitalisation accelerates rapidly in the automotive sector, together, Autofutura, the global data-driven business intelligence provider and industry-leading automotive ecommerce company, GForces, will maximise sales efficiency and fundamentally improve the way cars are purchased worldwide.
In an industry first, by integrating the data, products, services and technology across its portfolio, the Group will connect car maker, financiers, dealer and consumer in the most efficient way possible, simplifying the customer journey and improving customer retention. An essential component is connecting finance data, the core thread of new and used vehicle sales, across all platforms. Seamlessly integrating this will unlock the barriers to offering a complete ‘omnichannel’ customer experience – blending physical showrooms and the virtual world – from first sale, through aftersales and re-sale.
The commercial gains on offer are vast. Based on the 77 million new cars sold across the globe in 2020, with a value of $2.5 trillion**, a 1% shift in ecommerce sales would equate to $25 billion in revenue. And that’s without even factoring in the potential of global used car sales – the forecast for Europe in 2025 alone is €357 billion*.
As well as enabling its clients to grow the lifetime value of their customers, the Automotive Transformation Group is set to enable them to vastly improve their profitability. By leveraging its suite of products and services to cut transaction times and reduce sales process costs, the industry could generate an additional £2.2 billion per year in global profitability based on an extra £142 per new vehicle sale.***
The new Group, led by CEO Christian Erlandson, already handles one transaction every 3.5 minutes ($4.25 billion annually) and has an unrivalled depth of experience and operational scale in the industry. From its three UK offices, including its headquarters, plus offices in Australia, Canada, Dubai, Germany, Vietnam and the USA, the company serves more than 20 car manufacturers in over 10,000 locations across 96 countries.
Commenting on the launch of the Automotive Transformation Group, Chairman David Riemenschneider said: “The digitalisation of the sales process is advancing at an unrelenting pace. The Automotive market, which is one of the largest in the world, has lagged other sectors in terms of the speed of transition to online sales, but that is changing rapidly. Until now, the cost and complexity of integrating each element of an online and offline experience into a brand consistent omnichannel one, has prevented it being delivered at scale. The Automotive Transformation Group aims to change that. By joining up the dots we will enable car manufacturers, financiers and retailers to unlock the huge potential and efficiencies in today’s sales process and overall value chain. And now is the time to act.”
CEO Christian Erlandson added, “Since we announced the merger between Autofutura and GForces, we have been engaged in strategic discussions with some of the biggest players in the industry. This demonstrates just how dynamic the automotive industry is and how fast it is shifting towards digitalisation. We offer something truly unique. By connecting vehicles and consumers, serving the right offer, at the right time, to the right customer and then facilitating the seamless transition from one vehicle to another, we are streamlining the customer journey, right from the first transaction. We believe the companies which we support will not just have happier, longer standing customers, they will also be even more successful as a result of the substantial efficiencies they have achieved.”
Commercially, the Automotive Transformation Group’s two brands, Autofutura and GForces, will continue to successfully manage their customers independently. However, the Group will naturally be offering the full breadth of its combined product and service portfolio to all of its current and future customers.
The Automotive Transformation Group leadership team is comprised of both Autofutura and GForces executives, ensuring high-quality customer service, insight and expertise is maintained across the newly merged entity: David Riemenschneider – Chairman, Christian Erlandson – CEO, Giles Smith – Chief Product Officer, Mitch Titley – Chief Financial Officer, Tim Smith – Chief Revenue Officer, Simon Upton – Chief Operating Officer and Sinead Kanlioglu – Chief Programme Officer.
*, **Car sales and forecast data (Frost & Sullivan, May 2021)
***Calculations based on Automotive Transformation Group proprietary UK retail industry calculations and 2020 global new car sales (77 million per year)