There has been a proliferation of digital platforms in recent years. These provide more transparency about the vehicle, buyer and seller and provide services such as dealer support #software, vehicle appraisal tools, financing and inventory browsing and 360-tours of vehicles.
Technology of the type developed by NovaFori, for instance, has already made a positive impact in Europe’s used-car market, boosting liquidity across borders and jurisdictions, such as with CarNext.com. On the data science side, NovaFori deployed its recommendation engine to the CarNext B2B marketplace. As a result, professional traders now bid on a wide variety of CarNext cars in 24 languages, across multiple countries in Europe, on a 24-7-365 basis.'