In many European markets, used-car transactions now outnumber new sales by more than two to one, highlighting the major opportunity that used vehicle sales present for Original Equipment Manufacturers (OEMs). It represents both a substantial revenue stream and a critical lever for customer loyalty given buyers who start their journey with a used vehicle often return to the same brand for their next purchase, whether pre-owned or new.
As this market continues to expand, customer experience (CX) has become the defining differentiator. For years, the focus on CX has centred around new vehicle launches and flagship showrooms. Today, the forecourt is just as fierce for used vehicles, where trust, transparency, and convenience are essential.
Customers demand the same seamless omnichannel journey they have grown accustomed to in other sectors:
- The ability to discover and compare vehicles online with confidence.
- Transparency on pricing, history and condition.
- Smooth progression from digital research to the physical dealership.
This means that success in the used-car market is no longer about simply having inventory available; it is about curating a journey that inspires trust and reduces friction—from online search to in-store test drive. In fact, used-car customers being more likely to transact entirely online compared to new, defining end-to-end digital excellence as an imperative.
To expand our exposure and knowledge of the industry further, our Oaklin automotive experts recently had the pleasure of attending the @FT Live Future of the Car event. Across the four days, our predominant takeaway was that in order to survive, OEMs must fully commit to becoming digital first organisations.
