Auto Avaliar shifts to high gear in Brazil
International vehicle remarketing solutions firm Auto Avaliar has just launched three large-scale business deals coming out of the 28th Fenabrave (National motor vehicles distribution federation) expo which took place in the city of São Paulo during the second week of August.
For one, through a joint venture with Brazilian fintech Zen Finance, it has established the Auto Pay program which provides funding for used car franchise dealers throughout Brazil.
“Through our newly structured one-billion-real credit line (US$258mn), we are expecting to acquire more business in the coming months,” Auto Avaliar co-founder and commercial director Daniel Nino told Global Fleet.
Auto Avaliar co-founder Daniel Nino (left) and Zen Finance CEO Jorge Vargas Neto at Fenabrave 2018 (Source: Auto Avaliar)
During Fenabrave, the company also announced a new deal with international vehicle appraisal company Dekra.
“Although we are still using our Auto Avaliar platform, we have replaced our vehicle evaluator staff with another one from Dekra. We are using the company’s expertise to carry out initial evaluations as well as final reports,”said Nino.
Meanwhile, as the company acquires a lot of data through its evaluation processes, it is planning to market this information to auto makers and other potential clients.
Every month, Auto Avaliar conducts approximately 140,000 appraisals which result in 40,000 car purchases. Moreover, through its network of 2,800 dealerships, about 10,000 cars are sold in the B2B arena with the support of the company.
“We are creating the first nation-wide vehicle transaction price table in Brazil. Divided into regions, this table will detail residual pricing in the country as well as other buying and selling information,” the executive said.
The table is being built in partnership with an economic team from Brazilian university and thinktank FGV. It should be ready in September.
Top Photo: Auto Avaliar sponsors #54 Racing Team, "Old Stock" Brazil (Source: Auto Avaliar)